AMD revenue beats targets, Wall St relieved after Intel's grim outlook

FILE PHOTO: Lisa Su, president and CEO of AMD, holds up a 3rd generation Ryzen desktop processor during a keynote address at the 2019 CES in Las Vegas, Nevada, U.S., January 9, 2019. REUTERS/Steve Marcus/File Photo

(Reuters) -U.S. chip maker Advanced Micro Devices Inc on Tuesday posted revenue that beat Wall Street targets, enthusing investors who saw the company gaining on rival Intel.

Shares rose about 1.5% in after hours trading. Although AMD's forecast was behind expectations, it was not as weak as some worried.