AMD beats quarterly expectations as revenue and data center sales surge, shares jump after hours

Earnings per share in the third quarter were $2.09, compared with analysts’ expectations of $1.88 to $1.97, according to research firm LSEG.

In the same quarter last year, earnings were $1.20 per share.

Revenue was $13.38 billion, compared with expectations of $13 billion and $9.2 billion a year earlier.

Sales in the data center business almost doubled from the same quarter last year and now account for 64 percent of total revenue.

The company also sees bright prospects for the future. AMD expects revenue of about $17 billion in the next quarter, citing continued strong demand in data centers.

At the close of trading on the New York Stock Exchange on Tuesday, the stock was up 3.7 percent. AMD, ranked 18th among the world’s most valuable listed companies, has risen 126 percent since the beginning of the year.

In after-hours trading in New York following the report, the stock rose a further 9.5 percent.