AMD Earnings Surpass Target Amid Talk of Cryptocurrency Bull Market Return

United States transnational IT firm Advanced Micro Devices () over delivered on Wall Street expectations for , the company confirmed in a press release on April 30.

AMD, which had previously seen volatility in its performance amid challenging 2018 conditions, posted an adjusted share of $0.06, 1 cent above the target.

The knock-on effect among investors was immediately palpable, with the company’s share price spiking more than 5% in the hours after the was published.

“We delivered solid first quarter results with significant gross margin expansion as Ryzen and processor and datacenter revenue more than doubled year-over-year,” president and CEO Dr. Lisa Su commented. She added:

“We look forward to the upcoming launches of our next-generation PC, gaming and datacenter products which we expect to drive further market share gains and financial growth.”

Like many hardware manufacturers, AMD experienced a rocky 2018, a situation made worse by the persisting bear market, which reduced demand for associated mining hardware components.

As Cointelegraph reported, experts had warned the crypto winter could continue to cause a headache for the company, along with others such as Nvidia, which has nonetheless also seen a reversal in its fortunes for Q1 2019.

Bitcoin (BTC), meanwhile, continues to trade above $5,000, buoying sentiment that the bear market is definitively over after holding on to support around that level throughout April.

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