AMD shares surge after Q4 results as data center revenue impresses

Updated at 4:29 p.m. EST

modern micro devices (AMD) – Get a free report released better-than-expected fourth-quarter results on Tuesday, as a big gain in data center chip sales offset continued weakness in its gaming and personal computing businesses.

AMD said non-GAAP earnings for the quarter came in at 67 cents a share, down 27.2% from the same period last year, which was broadly in line with Street’s guidance. Consolidated revenue rose 30% to $5.6 billion, according to AMD, just above analyst forecasts of $5.5 billion. AMD itself had forecast revenue in the region of $5.5 billion plus or minus $300 million.