Weeks after recommending the Advanced Micro Devices (AMD) September 18, 2020 62.50 calls at $5, the option is set to open above $11 this morning.
All thanks to blow-out earnings and guidance.
Last night, AMD said it expects for 2020 revenue to grow about 32% from 2019 to roughly $8.88 billion. That’s a respectable increase from initial guidance of $8.08 billion. Analysts were only looking for 2020 revenue guidance of about $8.4 billion.
The company also earned an adjusted 18 cents on sales of $1.93 billion in its latest quarter. Analysts were only looking for 16 cents on sales of $1.86 billion.
“We delivered strong second quarter results, led by record notebook and server processor sales as Ryzen and EPYC revenue more than doubled from a year ago,” said Dr. Lisa Su, AMD president and CEO. “Despite some macroeconomic uncertainty, we are raising our full-year revenue outlook as we enter our next phase of growth driven by the acceleration of our business in multiple markets.”
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