AMD Beats Q3 Expectations, Stock Surges on Strong Data Center Sales

AMD reported third-quarter earnings after Tuesday's market close, beating analyst expectations, causing its stock to surge. Earnings per share reached $2.09, exceeding the forecast range of $1.88–$1.97 from analysts at LSEG. Revenue hit $13.38 billion, surpassing the expected $13 billion and up from $9.2 billion a year earlier. Data center sales nearly doubled compared to the same quarter last year, driving the strong performance. AMD's stock had already risen 3.7 percent by Tuesday's market close. The results mark a significant improvement from the $1.20 per share profit recorded in the third quarter of the previous year.