AMD Revenues Rose 6 Percent in Quarter to $6.2 Billion

Microprocessor maker AMD reported that it earned a net income of $667 million on revenues of $6.2 billion in the quarter ending December 30, 2023, up 6 percent year-over-year (YOY). AMD also reported the results for its full fiscal year 2023, with a net income of $854 million on revenues of $22,680, down 4 percent YOY.

“We finished 2023 strong, with sequential and year-over-year revenue and earnings growth driven by record quarterly AMD Instinct GPU and EPYC CPU sales and higher AMD Ryzen processor sales,” AMD chair and CEO Dr. Lisa Su said. “Demand for our high-performance data center product portfolio continues to accelerate, positioning us well to deliver strong annual growth in what is an incredibly exciting time as AI re-shapes virtually every part of the computing market.”

AMD’s Data Center business delivered $2.3 billion in the quarter, up 38 percent YOY. This business also grew 7 percent in the full year, to $6.5 billion. But the big news, perhaps, is that its Client business experienced a big comeback in the quarter, growing 62 percent YOY to revenues of $1.5 billion. That business declined 25 percent during all of 2023 to $4.7 billion. AMD’s Gaming business provided another $1.4 billion in revenues in the quarter, down 17 percent YOY; that business fell 9 percent for the full year to $6.2 billion.

AMD’s revenues in the quarter exceeded expectations. But the firm also predicted that revenues in the current quarter would fall below expectations, sending its stock shares down 3 percent in after-hours trading.