Computing company AMD’s stock price has dropped 22 per cent after underwhelming third quarter revenues.
VentureBeat reports that AMD revenue increased 40 per cent this quarter year-over-year, bringing in $1.65 billion. But that wasn’t up to expectations analysts set, hoping the manufacturer would reach $1.7 billion. Stock in the processor producer currently sits at $18.55 a share.
AMD’s GPU lineup saw weaker sales this year. In part, that was down to the company’s hardware not keeping pace with Nvidia - but the real kicker was the total evaporation of blockchain purchases this quarter as returns on currency mining continues to shrink.
But CEO Lisa Su doesn’t appear particularly worried. During a conference call, she claimed AMD was gaining market share thanks to its new Zen processors. If AMD is losing out to Nvidia on one front, then at least the company is predicted to outperform Intel on another.
“We remain focused on executing our strategy and delivering our product leadership,” said Su.
Su believes the Zen-based Epyc chips, in particular, will nab a mid-single-digit server unit market share by the end of 2018. Longer term, she hopes AMD can capture double-digit unit market share.