Tech earnings: AMD, Sandisk, Polycom top estimates

AMD reported better-than-expected. Sandisk and Polycom also delivered strong first quarter results.

AMD on Thursday delivered better-than-expected first quarter results and said demand was strong for its accelerated processing units.

The company reported earnings of $510 million, or 68 cents a share, on revenue of $1.61 billion, up 2 percent from a year ago. The earnings gain was due to and equity profit on Globalfoundries. Non-GAAP earnings were 8 cents a share, 3 cents ahead of Wall Street estimates.

As for the outlook, AMD said it expects second quarter revenue to be "flat to slightly down sequentially."

Among other key tech earnings:

  • Sandisk reported first quarter earnings of $224 million, or 92 cents a share, on revenue of $1.29 billion, up 19 percent from a year ago. Non-GAAP earnings were $1.03 a share, three cents above Wall Street estimates. Sandisk cited strong demand for its embedded mobile memory.
  • Polycom reported first quarter earnings of $34 million, or 38 cents a share, on revenue of $344 million. Non-GAAP earnings were 48 cents a share. Wall Street was looking for 42 cents a share. Polycom said it saw strong demand for its unified communications products and traction in emerging markets.