Advanced Micro Devices (NASDAQ:AMD) reported quarterly earnings of $0.58 per share which beat the analyst consensus estimate of $0.57 by 1.75 percent. This is a 44.76 percent decrease over earnings of $1.05 per share from the same period last year. The company reported quarterly sales of $5.36 billion which beat the analyst consensus estimate of $5.32 billion by 0.68 percent. This is a 18.18 percent decrease over sales of $6.55 billion the same period last year.
“We delivered strong results in the second quarter as 4th Gen EPYC and Ryzen 7000 processors ramped significantly,” said AMD Chair and CEO Dr. Lisa Su. “Our AI engagements increased by more than seven times in the quarter as multiple customers initiated or expanded programs supporting future deployments of Instinct accelerators at scale. We made strong progress meeting key hardware and software milestones to address the growing customer pull for our data center AI solutions and are on-track to launch and ramp production of MI300 accelerators in the fourth quarter.”
“We are pleased with our second quarter execution,” said AMD EVP, CFO and Treasurer Jean Hu. “Looking to the third quarter, we expect our Data Center and Client segment revenues to each grow by a double-digit percentage sequentially driven by increasing demand for our EPYC and Ryzen processors, partially offset by Gaming and Embedded segment declines.”
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