AMD Q2 results signal PC recovery, shares up nearly 4% after hours

Despite the continued weakness of the personal computer (PC) market, but has shown a recovery trend - AMD's latest quarterly results better than expected is a proof.

U.S. time on August 1, AMD released its financial results for the second quarter of 2023, achieving revenue of $5.4 billion in the quarter, down 18% year-on-year, flat year-on-year; adjusted operating profit of $1.068 billion, down 46% year-on-year, down 3% year-on-year; adjusted net profit of $948 million, a year-on-year decline of 44%, down 2% year-on-year.

AMD's quarterly results beat market expectations. According to yahoo finance statistics, before analysts on AMD's revenue for the quarter is expected to be 5.32 billion dollars on average, and is expected to earnings per share of 0.57 U.S. dollars. AMD actually realized earnings per share of 0.58 U.S. dollars.

Specific business, AMD's PC chip division revenue in the second quarter was $998 million, down 54% year-on-year, a sharp decline of 65.2% year-on-year in the first quarter, an increase of 35% from the previous quarter. Although the division's second-quarter revenue fell sharply year-on-year, but the rate of decline slowed compared to the first quarter, and higher than the estimate of $ 841 million.