AMD Securities Earnings Q3 2023

AMD Securities Earnings Q3 2023

The stock fell as the Fourth Quater Outlook by the Company Disappoints Investors

Advanced Micro Devices (AMD) for Q3 FY23 reported revenue of $5.8 billion, up by 4% YoY. (Source: AMD)

On a Segmental basis, Data Center segment revenue for the third quarter stood at $1.6 billion, flat YoY, as growth in the company's 4th Gen AMD EPYC CPU sales was offset by a decline in adaptive System-on-Chip (SoC) data center products. Moreover, AMD's client segment revenue was up by 42% YoY at $1.5 billion, driven primarily by higher Ryzen mobile processor sales. The company's gaming segment revenue fell by 8% YoY, primarily due to a decline in semi-custom revenue, partially offset by an increase in the company's GPU sales. (Source: AMD)

For the third quarter, AMD reported a net income of $299 million up by 323% YoY. After four back-to-back quarters of declining earnings due to a downturn in personal computers and traditional servers. The company reported robust earnings this quarter. (Source: AMD)

AMD's Chief Executive Lisa Su mentioned that the strong revenue was attributed to robust sales of Ryzen 7000 series PC processors and record server processor sales. (Source: AMD)

Moreover, the company's gross margins for the quarter stood at 47% and operating income of $224 million. (Source: AMD)

In the fourth quarter, the company's CFO Jean Hu said that they expect strong growth in the Data Center and continued momentum in the Client, partially offset by lower sales in the Gaming segment and additional softening of demand in the embedded markets. Moreover, the company forecasts revenue in the range of $5.80 billion - $6.40 billion in Q4. (Source: AMD)

The AMD stock fell by 4.5% to 94.10 after its fourth-quarter revenue estimate on October 31st. (Source: CNBC)

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