AMD Shares Fall 1.2% Premarket After Reversing an 8.1% Gain

Advanced Micro Devices shares fell 1.2% in premarket trading Wednesday after an earlier climb of as much as 8.1% reversed, turning the stock lower before the U.S. market opened.

The shift followed an earlier advance during the same premarket session. AMD shares had gained 4.53% at 6:58 a.m. ET after the company released its third-quarter results. Shares later climbed as much as 8.1% before turning lower.

For the quarter ended Sept. 26, AMD reported revenue of $13.377 billion, up 45% from a year earlier. Data Center revenue reached a record $8.5 billion, a 97% increase. AMD said demand for EPYC processors and the introduction of its Instinct MI450 Series GPUs helped drive Data Center growth.