Unfortunately ALL of the headlines and stories under Yahoo are reporting that AMD beat consensus by $1.21 vs $1.14. I emailed Michael Kanellos the following:
"ALL of the analysts that follow AMD specifically stated that their estimates of profit, which averaged $1.14 according to FIRST CALL, were WITHOUT TAXES Without taxes, AMD's first quarter profit was $1.51, not $1.21."
I got this curt repsonse almost immediately:
no they weren't, not according to the people who submitted the numbers.
-----Original Message-----
From: Petzinger, John
Sent: Wednesday, July 19, 2000 3:43 PM
To: 'michaelk@cnet.com'
Subject: AMD earnings in reality are 32% ABOVE CONSENSUS
ALL of the analysts that follow AMD specifically stated that their estimates
of profit, which averaged $1.14 according to FIRST CALL, were WITHOUT TAXES.
Without taxes, AMD's first quarter profit was $1.51, not $1.21.
Perhaps the proper way to report this is that analysts expected AMD to earn
$0.91 of taxed net income. AMD actually earned $1.21 taxed net income, or
32% above consensus.
John Petzinger
PS - I didn't make up the $1.51 number, it was repeated several times during
the AMD conference call.
/////////////// end of quotation /////////////////
I replied with a couple of albert's reports but I think this turd deserves some more email.
Petz |
