AMD shares fall more than 5% as outlook overshadows earnings beat

Advanced Micro Devices Inc. shares declined in the extended session Tuesday after the chip maker topped Wall Street estimates for the quarter, but its outlook was lower than most analysts had forecast.

AMD AMD shares fell more than 5% after hours, following a 0.3% rise to close the regular session at $89.91, less than 0.1% above what they were 12 months ago.

AMD…