====Advanced Micro (AMD) reported earnings on Thur 20 Oct 2016 (a/h)

Advanced Micro beats by $0.02, beats on revs; guides Q4 revs in-line :

• Reports Q3 (Sep) earnings of $0.03 per share, $0.02 better than the Capital IQ Consensus of $0.01; revenues rose 23.2% year/year to $1.31 bln vs the $1.21 bln Capital IQ Consensus.
• Gross margin was 5 percent, down from 31 percent from the previous quarter due to a $340 million charge related to the 6th amendment to the Wafer Supply Agreement with GLOBALFOUNDRIES. Non-GAAP gross margin of 31 percent was flat quarter-over-quarter.
• Co issues in-line guidance for Q4, sees Q4 revs of $1.03-1.11bln (Down 21-15%) vs. $1.06 bln Capital IQ Consensus Estimate; expects non-GAAP gross margin to be approximately 32%; expects inventory to decline to approximately $660 million