AMD Upcoming Earnings Alert - Q2 2024
📅 AMD will announce its Q4 2024 earnings report on 30th July 2024
Advanced Micro Devices (AMD) is scheduled to announce its second-quarter earnings after the market closes on Tuesday. Investors will likely be focused on record growth in the data center sector and robust guidance, driven by the surge in artificial intelligence (AI).
AMD will reveal its revenue projections for the third quarter, and investors will be paying close attention, as sentiment around the stock has been less favourable compared to many of its AI chipmaker counterparts.
Furthermore, AMD will announce revenue for its data center segment, and investors will be keenly observing continued growth fueled by AI demand.
In the first quarter, AMD's data center business achieved a record-high revenue of $2.3 billion, an 80% increase from the same period last year, driven by sales of MI300 chips used in AI data centers.
However, AMD expects Data Center segment revenues to increase by a double-digit percentage, mainly due to the ramp-up of data center GPUs on a sequential basis. Client segment revenues are also expected to rise.
On a year-over-year (YoY), AMD anticipates significant increases in Data Center and Client segment revenues, driven by a robust product portfolio.
The chipmaker has been benefiting from its strong portfolio and an expanding partner base. Its fourth-generation EPYC processor has been consistently deployed by hyperscalers to power their internal workloads and public instances.
As of the end of the first quarter of 2024, AMD had over 900 public cloud instances available. Amazon (AMZN), Google, and Microsoft (MSFT) increased their usage of fourth-gen EPYC processor offerings with new instances and regional deployments.
Additionally, Microsoft, Meta Platforms, Oracle, and other cloud providers announced further MI300X deployments during the reported quarter.
The chipmaker anticipates second-quarter 2024 revenues to be $5.7 billion, with a margin of $300 million. At the midpoint of this range, it reflects a year-over-year growth of about 6% and a sequential growth of around 4%.
AMD stock has experienced significant gains, rising 65% from $90 in early January 2021 to around $150 currently, compared to an approximately 45% increase for the S&P 500 over the same roughly three-year period.
Visit Us: https://graniteshares.com/institutional/uk/en-uk/
Capital at Risk | Sophisticated Investors Only
Sources:
1. Investopedia
2. Forbes
Advanced Micro Devices (AMD) is scheduled to announce its second-quarter earnings after the market closes on Tuesday. Investors will likely be focused on record growth in the data center sector and robust guidance, driven by the surge in artificial intelligence (AI).
AMD will reveal its revenue projections for the third quarter, and investors will be paying close attention, as sentiment around the stock has been less favourable compared to many of its AI chipmaker counterparts.
Furthermore, AMD will announce revenue for its data center segment, and investors will be keenly observing continued growth fueled by AI demand.
In the first quarter, AMD's data center business achieved a record-high revenue of $2.3 billion, an 80% increase from the same period last year, driven by sales of MI300 chips used in AI data centers.
However, AMD expects Data Center segment revenues to increase by a double-digit percentage, mainly due to the ramp-up of data center GPUs on a sequential basis. Client segment revenues are also expected to rise.
On a year-over-year (YoY), AMD anticipates significant increases in Data Center and Client segment revenues, driven by a robust product portfolio.
The chipmaker has been benefiting from its strong portfolio and an expanding partner base. Its fourth-generation EPYC processor has been consistently deployed by hyperscalers to power their internal workloads and public instances.
As of the end of the first quarter of 2024, AMD had over 900 public cloud instances available. Amazon (AMZN), Google, and Microsoft (MSFT) increased their usage of fourth-gen EPYC processor offerings with new instances and regional deployments.
Additionally, Microsoft, Meta Platforms, Oracle, and other cloud providers announced further MI300X deployments during the reported quarter.
The chipmaker anticipates second-quarter 2024 revenues to be $5.7 billion, with a margin of $300 million. At the midpoint of this range, it reflects a year-over-year growth of about 6% and a sequential growth of around 4%.
AMD stock has experienced significant gains, rising 65% from $90 in early January 2021 to around $150 currently, compared to an approximately 45% increase for the S&P 500 over the same roughly three-year period.
Visit Us: https://graniteshares.com/institutional/uk/en-uk/
Capital at Risk | Sophisticated Investors Only
Sources:
1. Investopedia
2. Forbes
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