Multinational semiconductor company AMD saw its shares moving higher this week after the company reported second quarter financial results and upgraded its revenue guidance looking forward.

For the quarter ended June 27th, the company reported 13 cents per share, adjusted, compared to the 16 cents per share as expected by analysts, according to Refinitiv. Revenue at $1.93 billion was higher than the $1.86 billion that was expected by analysts per Refinitiv.

The chip-maker’s revenue grew 26% year over year in the quarter according to a statement from the company. The company also reported revenue from the computing and graphics category that includes chips and graphics processing units for desktop PCs and laptops of $1.37 billion, which was up 45% and meeting expectations of analysts surveyed by FactSet.

Looking towards the third quarter, AMD has called for $2.55 billion in revenue, give or take $100 million. Analysts surveyed by Refinitiv had been looking for $2.32 billion in revenue for the quarter.

The company anticipates 32% revenue growth for the year, up from 25% growth the company predicted in April. Analysts polled by Refinitiv had expected 25% growth.

AMD also expects the PC market to grow, rather than decline, in the second half of the year, CEO Lisa Su said to analysts.

Su said on the earnings call, “We delivered our highest client processor revenue in more than 12 years. Increased working and schooling from home due to COVID-19 resulted in a strong PC market in the quarter. Although we believe our growth was largely driven by our 11th straight quarter of market share gains. Desktop processor sales decreased sequentially as anticipated, while revenue and ASP increased year over year as demand for our higher-end Ryzen processors drove a richer mix.”

“We expect strong second-half semi-custom growth as we read production to support the holiday launches of the new PlayStation 5, and Xbox Series X consoles,” Su said.

CFO Devinder Kumar remarked, “Amidst the COVID-19 backdrop, we delivered strong financial results, introduced industry-leading products and gain CPU market share. The second-quarter results and increased full-year revenue guidance highlight our ability to consistently deliver on our commitments as we continue to drive long-term financial growth.”

Disclaimer: We have no position in Advanced Micro Devices, Inc. (NASDAQ: AMD) and have not been compensated for this article.