In Thursday trading, shares of Advanced Micro Devices Inc. (AMD, Financial) advanced after reporting first quarter earnings per share of 11 cents on revenue of $1.65 billion, a 39.8% year-over-year increase. The company beat earnings estimates by 2 cents and revenue estimates by $80 million.
The gross margin was 36%, up 4% year-over-year and 2% quarter-over-quarter. This was explained by a greater percentage of revenue from Ryzen, Radeon and EPYC products.
Looking ahead, for the second quarter of 2018, the company expects revenue to be approximately $1.725 billion, plus or minus $50 million, an increase of 50% year-over-year, and non-GAAP gross margin of approximately 37%.
Shares of Align Technology Inc. (ALGN, Financial) jumped after announcing its first-quarter results. The company registered earnings per share of $1.17 on revenue of $436.9 million, a 40.8% year-over-year decline. The company managed to beat earnings estimates by 19 cents andrevenue expectations by $28.65 million.
The company's president and CEO Joe Hogan said: “I’m pleased to report better than expected first quarter results and a strong start to the year for Align, with revenues, volumes and EPS above our guidance. Record first quarter revenues were up 41% year-over-year reflecting continued strong Invisalignvolume across all geographies and customer channels, as well as iTero scanner sales which were up 84% year-over-year."
For the second quarter of 2018, the company expects net revenues between $460 million and $470 million, a 29-32% increase over the same trimester a year ago. Operating margin is expected in the range of 21.0-21.8% and diluted earnings per share between $1.02 and $1.06.
Disclosure: The author holds no position in any stocks mentioned.
