Gaming stocks, November 4 morning: AMD rises after results

AMD shares rose 8% in after-hours trading following its third-quarter results, according to a Reuters report published at 00:03 on November 4. That was a later snapshot, not the closing price. The Nasdaq-listed stock (AMD) closed at $483.90 on November 3, when the regular session ended at 23:00, according to Investing.com.

AMD makes Radeon graphics cards and console chips. Its results put gaming revenue at $773 million, down 40% from a year earlier as semi-custom and graphics revenue fell. The broader Client and Gaming segment, which also includes PC processors, brought in $3.7 billion, down 8%.

Company-wide revenue rose 45% to $13.377 billion, while data center revenue grew 97% to about $8.5 billion. AMD forecasts roughly $17 billion in fourth-quarter revenue, plus or minus 3%.

In regular trading on November 3, Nvidia (Nasdaq: NVDA), maker of GeForce graphics cards, rose 2.3%, according to The Associated Press. Microsoft (Nasdaq: MSFT) and Amazon (Nasdaq: AMZN) each gained more than 2%. Microsoft owns Xbox, while Amazon runs the Luna cloud gaming service. AP described the moves as part of a wider rebound in technology and AI stocks.

The Tokyo exchange was closed on November 3 for Culture Day. Nintendo is scheduled to release its half-year results on November 5, according to its investor calendar.

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