AMD posted third quarter results that beat analysts’ expectations.
The chipmaker’s third-quarter adjusted earnings came in at 41 cents a share, compared to Wall Street forecasts of 35 cents.
Revenue of $2.8 billion (vs. $1.8 billion a year earlier) also exceeded analysts’ expectations of $2.56 billion.
The company’s core computing and graphics segment sales came in at $1.67 billion, beating estimates of $1.55 billion. Ryzen processor sales growth were partially offset by softer graphics revenue.
Gross margin in the rose 1 percentage point year-over-year to 44%.
AMD CEO and President Lisa Su cited strong demand for our PC, gaming, and data center products as key drivers of record quarterly revenue.
Looking ahead, AMD projected fourth-quarter revenue of about $3 billion, up 41% year-over-year. Non-GAAP gross margin is expected at about 45% for the fourth quarter.