On July 30, 2024, Advanced Micro Devices, Inc. (AMD) reported its financial results for the second quarter ended June 29, 2024. The company announced a revenue of $5.8 billion, a gross margin of 49%, and net income of $265 million, resulting in diluted earnings per share of $0.16. Non-GAAP figures showed a gross margin of 53%, operating income of $1.3 billion, net income of $1.1 billion, and diluted earnings per share of $0.69. AMD's Data Center segment revenue reached a record $2.8 billion, a 115% increase year-over-year, primarily driven by AMD Instinct GPU shipments and strong sales of 4th Gen AMD EPYC CPUs. The Client segment also saw a 49% increase in revenue year-over-year, attributed to AMD Ryzen processor sales. However, the Gaming segment revenue declined by 59% year-over-year...Show More

On July 30, 2024, Advanced Micro Devices, Inc. (AMD) reported its financial results for the second quarter ended June 29, 2024. The company announced a revenue of $5.8 billion, a gross margin of 49%, and net income of $265 million, resulting in diluted earnings per share of $0.16. Non-GAAP figures showed a gross margin of 53%, operating income of $1.3 billion, net income of $1.1 billion, and diluted earnings per share of $0.69. AMD's Data Center segment revenue reached a record $2.8 billion, a 115% increase year-over-year, primarily driven by AMD Instinct GPU shipments and strong sales of 4th Gen AMD EPYC CPUs. The Client segment also saw a 49% increase in revenue year-over-year, attributed to AMD Ryzen processor sales. However, the Gaming segment revenue declined by 59% year-over-year, and the Embedded segment decreased by 41% due to inventory normalization by customers. AMD's CEO, Dr. Lisa Su, highlighted the company's strong performance in the Data Center segment and the acceleration of its AI business. CFO Jean Hu noted the revenue growth, gross margin expansion, and solid earnings growth, alongside increased AI investments. AMD expects a revenue of approximately $6.7 billion for the third quarter of 2024, with a non-GAAP gross margin of about 53.5%. The company held a conference call on July 30, 2024, to discuss these financial results and forward-looking guidance.