Lisa Su, president and chief executive officer of Advanced Micro Devices Inc. (AMD), speaks during a launch event in San Francisco, California, U.S., on Wednesday, Aug. 7, 2019.David Paul Morris | Bloomberg | Getty ImagesAMD reported results for the quarter ending in June that beat estimates for profit and revenue, but the chipmaker gave a forecast for the current quarter that trailed Wall Street expectations.AMD stock fell 4% in extended trading.Here's how AMD did per Refinitiv consensus expectations:EPS: $1.05, adjusted, versus $1.03 expectedRevenue: $6.55 billion, versus $6.53 billion expectedThe chipmaker said it expected $6.7 billion in revenue during the current quarter, plus or minus $200 million. Analysts expected $6.83 billion.AMD currently has a significant market opportunity as its primary rival for PC and server processors, Intel, stumbles with execution.AMD's chips have surpassed Intel's in terms of performance, and investors are looking to see if the company has the supply and execution to take market share.AMD said that data center sales rose 83% year-over-year to $1.5 billion. Server chip sales are critical AMD as it seeks to take market share from Intel.Client segment revenue, which is comprised of PC sales, rose 25% to $2.2 billlion during the quarter despite signs that computer sales have been slowing at the end of a two-year pandemic-fueled boom.Sales of chips for consoles like the Playstation 5 and Xbox Series X were also a highlight for AMD during the quarter. Gaming segment sales rose 32% year-over-year to $1.7 billion.AMD stock is down over 31% so far in 2022 as investors have been selling fast-growing semiconductor stocks in the face of inflation and recession fears.
AMD beats on earnings and revenue, but third-quarter forecast comes in light.