Amd's revenue this year 2018 exceeds all expectations

AMD's (Advanced Micro Devices) quarterly earnings and revenue exceeded Wall Street's targets, something that has been made possible by higher prices, and high demand for graphics chips for cryptocurrency mining.

AMD makes more revenue and profit than expected

The forecast for revenue for the current quarter also exceeded the company's own expectations, something that has pushed its shares up more than 9 percent in after-hours trading on Wednesday. The value of each share has risen more than 250 percent in the past two years, due in large part to the high demand for graphics chips used in computers, video game consoles and, above all, for the mining of cryptocurrencies such as Bitcoin and Ethereum. Cryptocurrencies are estimated to have been responsible for 10% of AMD's total revenue, which is quite a significant portion.

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AMD has reported a net income of $ 81 million in the first quarter of this year 2018, a great advance compared to a net loss of $ 33 million in the same period of the previous year. AMD's total revenue increased 40% to $ 1.65 billion, exceeding expectations of $ 1.57 billion. This has caused AMD to earn 11 cents a share, above analysts' average estimate of 9 cents.

AMD expects to earn $ 1.73 billion in revenue in the current quarter. Something that would be possible due to the success of the recently launched second-generation Ryzen processors, which have received very positive reviews from analysts and users. Over the next few months, second-generation Threadripper and EPYC processors will arrive.