Summary by Moomoo AI
AMD reported Q2 2024 revenue of $5.8B, up 9% YoY, with GAAP net income of $265M and non-GAAP net income of $1.1B. Record Data Center segment revenue reached $2.8B, surging 115% YoY driven by strong AMD Instinct GPU and EPYC CPU sales. Client segment revenue grew 49% YoY to $1.5B, while Gaming and Embedded segments declined.The company expanded its AI portfolio with new products, including the AMD Instinct MI325X accelerator launching in Q4 2024 and Ryzen AI 300 Series processors. Microsoft announced general availability of Azure ND MI300X V5 instances powered by AMD Instinct accelerators. AMD also previewed 5th Gen EPYC processors codenamed "Turin" for 2H 2024.For Q3 2024, AMD expects revenue of approximately $6.7B (±$300M), representing 16% YoY growth, with non-GAAP gross margin around 53.5%. The company sees strong revenue growth potential in the second half driven by increasing demand for AI solutions across its product portfolio.
