(Bloomberg) -- Advanced Micro Devices Inc. climbed in late trading after an expansion into server processors helped offset a slumping personal-computer market last quarter and the chipmaker vowed to make further gains.

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Profit topped analysts’ predictions in the third quarter, with sales coming in roughly in line with projections. In the current period, revenue will be approximately $5.5 billion. Though that missed the average estimate of about $5.9 billion, it represents an increase at a time when several of AMD’s peers are suffering contractions.

Chief Executive Officer Lisa Su assured investors that a long turnaround of the chipmaker is still on course, helped by market-share wins. The company expects sales to increase about 14% in the fourth quarter, in contrast with double-digit declines at rivals Intel Corp. and Nvidia Corp.

“We believe we will continue to gain share” in the data-center market, Su told analysts on a conference call. “We’re planning for a weaker PC environment in the fourth quarter,” meanwhile, as customers cut inventory and the company ships fewer parts, she said.

Underlining how important servers are becoming to AMD’s finances, the company’s data-center unit posted a revenue increase of 45% from a year earlier. That helped cushion the impact of a 40% drop in its personal-computer chip revenue. Strong demand for game-console parts -- it supplies Microsoft Corp. and Sony Group Corp. with custom chips -- helped boost sales for AMD’s gaming division by 14%.

The results helped send the shares up as much as 7.1% in extended trading.

AMD had warned in October that its third-quarter performance would fall short of projections, and other chipmakers -- including Intel and Nvidia -- have provided gloomy outlooks for the industry. Facing a shaky economy and soaring inflation, consumers and corporations have turned away from buying computers.

Against that backdrop, AMD’s numbers were a bit better than expected. Profit was 67 cents a share in the period, excluding some items. Analysts had estimated 65 cents.

Investors have been seeking signs of whether the steep PC decline will continue -- and take the market back to pre-Covid depths -- or settle at the higher level. A rebound to the heights of the early pandemic is now looking increasingly unlikely. Su said that the company is assuming that the PC market will decline about 10% in 2023.