AMD Revenues Jump 24 Percent to $7.7 Billion

Microprocessor maker AMD reported a net income of $482 million on revenues of $7.7 billion in the quarter ending December 28, 2024. Net income was down 37 percent year-over-year (YOY), while revenues surged 24 percent YOY.

AMD also reported its full-year 2024 financial results, with net income up 92 percent to $1.64 billion and revenues up 14 percent to $25.8 billion.

“2024 was a transformative year for AMD as we delivered record annual revenue and strong earnings growth,” AMD Chair and CEO Dr. Lisa Su said. “Data Center segment annual revenue nearly doubled as EPYC processor adoption accelerated and we delivered more than $5 billion of AMD Instinct accelerator revenue. Looking into 2025, we see clear opportunities for continued growth based on the strength of our product portfolio and growing demand for high-performance and adaptive computing.”

AMD’s Data Center business segment was its biggest in the quarter, with a record $3.9 billion in revenues, up 69 percent YOY and driven by a “strong ramp” of Instinct GPUs and EPYC CPU sales. Data Center’s full year revenues of $12.6 billion were also a company record, and were up 94 percent YOY. That said, Wall Street expected over $4 billion in revenues this quarter, so these results disappointed investors.

The Client business segment added another $2.3 billion in revenues, a record, up 58 percent YOY and driven by strong sales of AMD Ryzen “Zen 5” processors. Client revenues for the full year were $7.1 billion, up 52 percent, and also a record.

AMD’s Gaming and Embedded businesses continue to trail, with both posting revenue losses in the quarter and year. Gaming delivered $563 million in revenues in the quarter (down 59 percent YOY) and $2.6 billion for the year (down 58 percent). And Embedded delivered $923 million in revenues in the quarter (down 13 percent) and $3.6 billion in revenues for the year (down 33 percent).