Earnings Summary: AMD Exceeds Expectations and Announces Strong Outlook for Q2

Advanced Micro Devices Press Release (NASDAQ: AMD): Non-GAAP EPS for the second quarter was $0.69, up from $0.01.

Revenue was 5.84 billion dollars (up 9.0% from the previous year), which was 0.1 billion dollars higher than 20 million dollars.

Revenue in the data center segment reached a record high of $2.8 billion, up 115% year over year. This was mainly due to the rapid increase in AMD Instinct™ GPU shipments and strong sales of 4th generation AMD EPYC™ CPUs. Revenue increased 21% from the previous quarter, mainly due to strong shipments of AMD Instinct GPUs.

Client segment revenue was $1.5 billion, up 49% year over year and 9% quarter over quarter, mainly due to sales of AMD Ryzen™ processors.

The gaming segment's revenue was 0.6 billion 48 million dollars, down 59% year over year and 30% quarter over quarter, mainly due to a decline in semi-custom revenue.

AMD expects revenue for the third quarter of 2024 to be approximately $6.7 billion. This is plus or minus 0.3 billion dollars compared to the consensus estimate of 6.61 billion dollars. The median revenue range shows growth of approximately 16% compared to the previous year and approximately 15% compared to the previous quarter. The non-GAAP gross margin is expected to be approximately 53.5%.

AMD beat!!