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published in Blogs
Aug 03, 2022
AMD (AMD, $99.29) beats fiscal Q2 earnings expectations

AMD (AMD, $99.29) beats fiscal Q2 earnings expectations

Advanced Micro Devices, Inc. (AMD) reported its fiscal second quarter earnings that topped analysts’ expectations, while revenue was close to estimates.

The semiconductor company’s earnings for the quarter were $1.05 per share, which exceeded analyst’ expectations of $0.91 per share.

Revenue surged +70% year-over-year to $6.6 billion, in line with expectations.

The company’s revenue from its Data Center segment was up +83% from the year-ago quarter to $1.5 billion. Client segment revenue was up +25% y/y to  $2.2 billion. Revenue from Gaming business rose +32% y/y to  $1.7 billion. Embedded segment revenue grew 2,228% y/y.  

Looking ahead, AMD expects revenue for its fiscal third quarter  to be about $6.7 billion, (plus or minus $200 million). For the full fiscal year 2022, the company projects revenue to be around $26.3 billion (plus or minus $300 million) –which would imply a +60%  increase over 2021.

Related Tickers: AMD