Advanced Micro Devices (AMD) reported a 2% increase in net revenue to $5.5 billion for the quarter ended March 30, 2024, compared to the same period last year. The growth was attributed to higher sales in the Data Center segment, driven by AMD Instinct GPUs and 4th Gen AMD EPYC CPUs, and in the Client segment, primarily due to Ryzen 8000 Series processor sales. However, this was partially offset by decreased revenues in the Gaming and Embedded segments. Gross margin improved to 47% from 44% year-over-year, thanks to higher revenue in the Data Center and Client segments and lower amortization of acquisition-related intangible assets. Operating income turned positive at $36 million, a significant improvement from the $145 million operating loss in the prior year. Net income also...Show More

Advanced Micro Devices (AMD) reported a 2% increase in net revenue to $5.5 billion for the quarter ended March 30, 2024, compared to the same period last year. The growth was attributed to higher sales in the Data Center segment, driven by AMD Instinct GPUs and 4th Gen AMD EPYC CPUs, and in the Client segment, primarily due to Ryzen 8000 Series processor sales. However, this was partially offset by decreased revenues in the Gaming and Embedded segments. Gross margin improved to 47% from 44% year-over-year, thanks to higher revenue in the Data Center and Client segments and lower amortization of acquisition-related intangible assets. Operating income turned positive at $36 million, a significant improvement from the $145 million operating loss in the prior year. Net income also saw a turnaround, with $123 million compared to a net loss of $139 million in the previous year. Cash, cash equivalents, and short-term investments rose to $6.0 billion, up from $5.8 billion at the end of the last fiscal year. AMD's business development was marked by increased sales of high-performance computing products and a focus on AI technology. Looking ahead, AMD expects international sales to remain a significant portion of total sales and plans to fund operations, capital expenditures, and debt payments through cash from operations, existing credit facilities, and potential access to capital markets.