Shares in the chipmaker were higher in pre-market trading after it reported first fiscal-quarter earnings that topped expectations, and provided a strong guide for current-quarter revenue.
For the quarter, AMD (AMD) saw adjusted earnings per share (EPS) of $0.96 on revenue of $7.4bn, ahead of analysts' expectations of $0.94 on revenue of $7.1bn, based on Bloomberg consensus estimates. The company reported EPS of $0.62 and revenue of $5.4bn in the same quarter last year.
AMD also said it anticipates Q2 revenue of between $7.1bn (£5.3bn) and $7.7bn. Analysts were anticipating $7.2bn.
AMD CEO Lisa Su said that the company achieved its first-quarter results despite strict regulations on advanced AI chip exports. The company’s forecast included $800m in costs that the company said it would incur because the US limited the export of some of the company’s artificial intelligence chips during the quarter.
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“Despite the dynamic macro and regulatory environment, our first quarter results and second quarter outlook highlight the strength of our differentiated product portfolio and consistent execution positioning us well for strong growth in 2025,” Su said in a statement.
The company’s data centre segment, including AI graphics and central processor sales, topped estimates and rose 57%.
Ben Barringer, global technology analyst at Quilter Cheviot, said: "While AMD continues to lag behind Nvidia (NVDA) in the GPU space, it remains a credible second source for customers and is steadily expanding its client base. The company is also leaning into new product launches this year and next, built on cutting-edge manufacturing technology.
"Although export restrictions to China remain a material headwind which will drag on growth, AMD’s outlook remains positive, with guidance for double-digit revenue growth and Q2 guidance coming in around 3% above analyst expectations. The China drag takes some of the shine off, but overall, this is a confident update from a company that’s holding its own in an increasingly competitive market."
Shares in the Danish pharmaceutical group behind the obesity drug Wegovy were up by 5% in early European trading, even after the company cut its 2025 sales forecast, ending a four-year run of upgrades driven by soaring demand.
Novo Nordisk (NVO, NOVO-B.CO) said first-quarter sales of its first-to-market weight-loss drug Wegovy were 17.36bn Danish crowns (£1.97bn/$2.64bn), declining 13% from the previous quarter. Revenues rose 18% and operating profits rose 20% at constant exchange rates in the first quarter of this year.
“In the first quarter of 2025, we delivered 18% sales growth and continued to expand the reach of our innovative GLP-1 treatments,” said Lars Fruergaard Jørgensen, president and chief executive. “However, we have reduced our full-year outlook due to lower-than-planned branded GLP-1 penetration, which is impacted by the rapid expansion of compounding in the US."
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The company now expects full-year sales growth in local currencies of between 13% and 21%, down from a previous forecast of 16% to 24%. It also revised its operating profit growth outlook to a range of 16% to 24%, compared with 19% to 27% previously.
Sheena Berry, healthcare analyst at Quilter Cheviot, said: "The focus for Novo Nordisk remains on Ozempic and Wegovy for type two diabetes and obesity. Wegovy missed expectations, with the group indicating that half of the softness was due to destocking.
"Consequently, full-year guidance has been lowered, which is not surprising given recent prescription trends for Wegovy and compounded versions still being on the market."
Shares in the EV maker were just below the flatline ahead of the US opening bell as it said it will deliver fewer electric vehicles this year than originally forecast as US president Donald Trump's tariff blitz continues to hit the car industry.
The California-headquartered company said it expected to deliver between 40,000 and 46,000 EVs in 2025, down from a range of 46,000 to 51,000 that already targeted fewer deliveries than last year.
Rivian (RIVN) reported revenue of $1.240bn against $981.21bn estimated by Bloomberg, slightly higher than the $1.204bn reported a year ago. The company posted an adjusted loss per share of $0.41 vs. $0.79 estimated, with an adjusted EBITDA (earnings before interest, taxes, depreciation, and amortisation) loss of $329m compared to $546.4m expected.
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The company did maintain its 2025 full-year adjusted EBITDA loss projection in the range of $1.7bn to $1.9bn.
"This quarter we hit our second consecutive gross profit and our highest gross profit to date at $206 million," CEO RJ Scaringe said in a statement. "We have continued to make significant progress on R2, including vehicle validation builds underway and our Normal, Illinois manufacturing facility expansion on track."
Shares in Super Micro (SMCI) were down by over 5% in pre-market trading after it cut its sales outlook for fiscal 2025, citing short-term impacts of heightened economic uncertainty and tariffs.
Super Micro’s reported revenue growth of 19% year-on-year for the quarter ended 31 March, but net income declined to 17 cents per share, compared with 66 cents in the same period last year.
The server maker now expects sales of between $21.8bn and $22.6bn for the fiscal year ending 30 June, down from a previous forecast of $23.5bn to $25bn.
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The macroeconomic environment is likely to weigh on performance, the company said, following Trump’s announcement in early April of sweeping new tariffs on imported goods.
Chief executive Charles Liang told analysts the company had observed “a customer waiting and evaluating AI platforms between the current Hopper and the upcoming Blackwell GPUs, leading to a delayed commitment.” He added that he expects those delayed commitments to materialise in the June and September quarters.
Liang also said the company would not be issuing guidance for fiscal 2026, citing ongoing uncertainty around tariffs.
Trainline (TRN.L) profits surged last year after it made a record amount of sales, as the company benefited from the growing popularity of digital tickets and fewer rail strikes.
The London-listed firm reported an £86m operating profit for the year to 28 February, up 56% compared with the previous year.
It made £5.9bn from selling tickets, up 12% from the year before, mainly driven by fast sales growth in the UK and expansion in European countries.
Trainline makes most of its money by taking a commission on ticket sales for coach and rail journeys, and benefited from fewer train strikes last year than in 2023.
It also cited the growing popularity of digital tickets stored on mobile phones versus paper tickets for its improving sales.
But the company faces a potential crisis in its main UK market in the coming years, amid competition from a government-owned train operator called Great British Railways.
Other companies in the news on Wednesday 7 May:
Card Factory (CARD.L)
Smiths News (SNWS.L)
Japan Tobacco (2914.T)
Zurich Insurance (ZURN.SW)
Unicredit (UCG.MI)
Siemens Healthineers (SHL.DE)
BMW (BMW.DE)
Wolters Kluwer (WKL.AS)
Ahold Delhaize (AD.AS)
Legrand (LR.PA)
Fresenius (FRE.DE)
Endesa (ELE.MC)
Randstad (RAND.AS)
Pandora (PNDORA.CO)
Skanska (SKA-B.ST)
Telecom Italia (TIT.MI)
Uber (UBER)
ARM (ARM)
Applovin (APP)
DoorDash (DASH)
Barrick Gold (GOLD)
Carvana (CVNA)
Rockwell (ROK)
Formula One (FWONK)
Zillow (Z)
Coherent (COHR)
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