AMD sharply lowered Q3 earnings revenue expectations

The slump in the PC industry continues to spread, and AMD has inevitably been affected.

This week, AMD adjusted its third-quarter earnings estimates, with revenue revised downward to about $5.6 billion, of which client business revenue is expected to decline 53% sequentially and 40% year-over-year.

A significant comparison can be made to the previous interim outlook, which had third-quarter revenue up to about $6.7 billion, or a downward revision of $1.1 billion. The year-over-year increase also fell from 55 percent to 29 percent.

AMD said the revised earnings estimates were due to low demand in the PC market and significant inventory finishing in the channel.

As planned, AMD will release its third quarter earnings on November 1.

After the news was announced, AMD shares fell 4% at one point in trading.

Earlier, friend NVIDIA and Intel both reported rare losses in their last quarterly earnings, which can be said to be a strong signal of the downturn of the entire PC industry.