Shares of Advanced Micro Devices are trading sharply higher in late Tuesday on better-than-expected results for the fourth quarter, and a forecast that blew past Wall Street expectations. The results were driven by strong demand for both server and PC processors.
For the fourth quarter, Advanced Micro Devices (ticker: AMD) posted revenue of $4.8 billion, up 49% from a year ago, with non-GAAP profits of 92 cents a share, exceeding the Wall Street consensus of $4.5 billion in revenue and profits of 76 cents a share. Under generally…