AMD last night reported that it earned a net income of $786 million on record revenues of $5.9 billion for the quarter ending March 26. Revenues were up an incredible 71 percent year-over-year (YOY).
“The first quarter marked a significant inflection point in our journey to scale and transform AMD as we delivered record revenue and closed our strategic acquisition of Xilinx,” AMD CEO and chairperson Dr. Lisa Su said. “Each of our businesses grew by a significant double-digit percentage year-over-year, led by EPYC server processor revenue more than doubling for the third straight quarter. Demand remains strong for our leadership products, with our increased full-year guidance reflecting higher AMD organic growth and the addition of the growing Xilinx business.”
AMD’s Computing and Graphics business unit delivered record revenues of $2.8 billion in the quarter, up 33 percent YOY. The YOY increase was driven by Ryzen and Radeon processor sales, AMD said, with the client processor average selling price (ASP) increasing YOY to an unspecified amount.
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Revenues from AMD’s Enterprise, Embedded, and Semi-Custom business unit also set a record, at $2.5 billion, up 88 percent YOY and driven by higher EPYC processor revenue, semi-custom, and embedded product sales.
Xilinx is AMD’s newest business thanks to an acquisition, and it delivered partial-quarter revenues of $559 million. And AMD’s All Other landed with an operating loss of $886 million, compared to an operating loss of $100 million in the year-ago quarter.
Thanks to the strong results, AMD has raised its financial expectations for the full-year 2022 and now expects revenues to jump approximately 60 percent over 2021. (The previous estimate was 31 percent.)