Shares of Advanced Micro Devices touched a new 10-year high on Wednesday after the chipmaker reported Q2 results after hours Tuesday that were better-than-expected and raised its full-year revenue growth outlook. AMD was up almost 9% recently, with a new 52-week range of $5.66 to $15.65.
Q2 adjusted earnings were $0.02 per share, compared to a loss of $0.05 per share a year earlier, which beat the consensus by two cents. Revenues rose to $1.22 billion from $1.03 billion and beat expectations for $1.16 billion.
For the full year, AMD expects revenues to increase by mid to high-teens in percentage terms, compared to a prior view for low double-digit percentage growth.