Why AMD Stock's Q2 Earnings Beat Is Not All It's Cracked Up to Be

Advanced Micro Devices (NASDAQ:AMD) ripped higher after earnings beat expectations.Net income of $265 million, 69 cents per share when adjusted and revenue of $5.8 million were all pleasant surprises. Net income was more than double that of the first quarter.There’s more to come, according to the earnings release. Third quarter revenue was estimated at $6.7 billion, plus or minus $300 million. That’s 15% higher than the second quarter, 16% higher than a year ago.Shares jumped $10.30 in early morning trade J ...