AMD Shares Soar After Meeting Earnings Targets While Revenue Misses

Shares of Advanced Micro Devices (NASDAQ:AMD 19.25 -4.61%) shot up by as much as 10 percent in after-hours trading this afternoon after the chip maker posted its fourth-quarter financial results. AMD met earnings forecasts but missed Wall Street estimates for revenue.

2017 Revenue: $5.3 billion
2018 Revenue: $6.5 billion (up 23%)
2017: Net Income -$33 million
2018 Net Income: $337 million
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"Despite near-term graphics headwinds, 2019 is shaping up to be another exciting year driven by the launch of our broadest and most competitive product portfolio ever with our next-generation 7-nanometer Ryzen, Radeon, and Epyc products".