AMD Revenues Up 9 Percent in Quarter

Microprocessor maker AMD reported that it earned a net income of $265 million on revenues of $5.8 billion in the quarter ending June 29. Revenues were up 9 percent year-over-year (YOY).

“We delivered strong revenue and earnings growth in the second quarter driven by record Data Center segment revenue,” AMD Chair and CEO Dr. Lisa Su said. “Our AI business continued accelerating and we are well positioned to deliver strong revenue growth in the second half of the year led by demand for Instinct, EPYC and Ryzen processors. The rapid advances in generative AI are driving demand for more compute in every market, creating significant growth opportunities as we deliver leadership AI solutions across our business.”

AMD’s Data Center business recorded revenues of $2.8 billion, up 115 percent YOY thanks to continued strong sales of its Instinct GPUs and 4th generation EPYC CPUs. But AMD’s Client segment—which designs CPUs and GPUs for PCs—came on strong as well, with $1.5 billion in revenues, a gain of 49 percent YOY.

AMD’s smaller businesses, Gaming and Embedded, didn’t fair as well. Gaming revenues fell 59 percent YOY to $648 million in the quarter, while Embedded saw a revenue decline of $41 percent to $861 million.

AMD announced its next-generation PC processors in the quarter, and later said it would launch the products at the end of July. But it later delayed its desktop Ryzen 9000 series chips by two weeks because it discovered a manufacturing issue. The mobile Ryzen AI 300 series chips are expected to launch tomorrow as planned.