Chipmaker AMD Beats Fourth-Quarter Targets

Chipmaker AMD Beats Fourth-Quarter Targets- Check out in detail

Chipmaker Advanced Micro Devices (AMD) late Tuesday cleared Wall Street's hurdles for the fourth quarter

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The Santa Clara, Calif.-based company earned an adjusted 69 cents a share on sales of $5.6 billion in the December quarter.

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Analysts polled by FactSet had expected AMD earnings of 67 cents a share on sales of $5.51 billion.

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On a year-over-year basis, AMD earnings fell 25% while sales rose 16%.

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In the fourth quarter, AMD's PC chip sales dropped 51% year over year to $903 million amid weak personal computer demand.

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Meanwhile, data center chip sales increased 42% to $1.7 billion, driven by Epyc server processors.

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