Advanced Micro Devices Inc. (AMD - Free Report) just released its fourth quarter fiscal 2017 financial results, posting earnings of 8 cents per share and revenues of $1.48 billion. Currently, AMD is a Zacks Rank #3 (Hold), and is down 5.3% to $12.20 per share in trading shortly after its earnings report was released.

The chip maker:

Beat earnings estimates. AMD reported non-GAAP diluted earnings of 8 cents per share, surpassing the Zacks Consensus Estimate of 5 cents per share. Net income was $88 million.

Beat revenue estimates. The company saw revenue figures of $1.48 billion, just topping our consensus estimate of $1.4 billion and increasing 34% year-over-yeargrowth thanks to strong sales of its Radeon and Ryzen processors.

Gross margin came to 35%, up 3 percentage points year-over-year but flat on a sequential basis.

AMD’s computing and graphics segment revenue was $958 million, growing 60% year-over-year and 17% sequentially.

For the first quarter of fiscal 2018, the company expects revenue to be roughly $1.55 billion, plus or minus $50 million, which represents an increase of 32%. This anticipated growth is primarily driven by the strength of AMD’s new Ryzen, GPU, and EPYC products.

"We are even more excited about 2018 as we launch our next wave of high-performance products and continue to position AMD as one of the premier long-term growth companies in the technology industry,” said Dr. Lisa Su, AMD president and CEO.

Here’s a graph that looks at Advanced Micro Devices’ price, consensus, and EPS surprise:

Advanced Micro Devices, Inc. Price, Consensus and EPS Surprise

Advanced Micro Devices, Inc. Price, Consensus and EPS Surprise | Advanced Micro Devices, Inc. Quote