AMD releases its Q2 FY23 earnings report

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AMD reported results, which were somewhat higher than expected for the second quarter, propelling the stock up 4% in after-hours trading. AMD CEO Lisa Su also stated that the company’s AI engagements increased 7x during the quarter as customers launched or extended existing Instinct Accelerator programmes for AI workloads.

The business also revealed that its much-anticipated MI300A and MI300X GPUs are on schedule for a Q4 release and are already sampling to HPC, Cloud, and AI providers, giving the company with a new set of products to fight Nvidia, the undisputed leader in AI workloads.

AMD’s sales was $5.4 billion, an 18% decrease from the previous year, with a gross margin of 46%, an operating loss of $20 million, and a net gain of $27 million. AMD offered a lower-than-expected third-quarter guidance, offsetting the good news.

AMD’s consumer chip revenue was $998 million in the third quarter, down 54% year on year as the chip glut continued, affecting Intel’s sales as well.

AMD
credit: tomshardware

AMD, like Intel, claims that PC market circumstances have improved, with revenue increasing 35% over the previous quarter.

Much of that rise is due to higher sales of Zen 4 Ryzen 7000 processors. AMD reported a $69 million operating loss for this division, but the firm expects it to return to profitability and generate double-digit revenue growth in the next quarter.

AMD’s gaming division sales was $1.6 billion, a 4% decrease year on year and a 10% decrease from the previous quarter. The chip maker attributed the dip to decreased gaming GPU sales, but semi-custom sales to Microsoft and Sony remained strong. The REd tean claims that new enthusiast-class Radeon 7000 GPUs will be available in the third quarter. The group’s operating margin was $225 million, up 11% year on year.

AMD’s data centre revenue fell 11% year on year to $1.3 billion as sales of its third-generation EPYC Milan slowed owing to a poor market. This was largely offset by sales of the more expensive fourth-generation EPYC Genoa models, thus revenue in this segment increased by 2% over the previous quarter. The company’s data centre group earned $147 million in operational profits during the quarter, much outperforming Intel’s data centre group, which lost $200 million.

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