AMD reports weaker-than-expected earnings even as revenue tops estimates
1. AMD missed earnings estimates, stock fell 5% post-announcement. 2. Company projects Q3 sales of $8.7 billion, exceeding analyst expectations. 3. AMD introduced new AI chips, gaining interest from Meta and OpenAI. 4. Export controls cost AMD $800 million, affecting gross margins significantly. 5. Client and Gaming segments showed 69% annual revenue growth, driven by Ryzen CPU sales.