AMD Q1 2024 Earnings Report
Key Takeaways
AMD announced its Q1 2024 financial results, reporting revenue of $5.5 billion, a gross margin of 47%, and diluted earnings per share of $0.07. The Data Center and Client segments showed substantial growth, driven by the ramp of MI300 AI accelerator shipments and the adoption of Ryzen and EPYC processors.
Data Center segment revenue reached a record $2.3 billion, up 80% year-over-year.
Client segment revenue increased by 85% year-over-year, driven by AMD Ryzen™ 8000 Series processor sales.
Gaming segment revenue decreased by 48% year-over-year due to lower semi-custom revenue and AMD Radeon™ GPU sales.
AMD expects revenue to be approximately $5.7 billion, plus or minus $300 million, for the second quarter of 2024.
AMD
AMD
Forward Guidance
For the second quarter of 2024, AMD expects revenue to be approximately $5.7 billion, plus or minus $300 million. Non-GAAP gross margin is expected to be approximately 53%.
Positive Outlook
- Revenue expected to be approximately $5.7 billion, plus or minus $300 million.
- Represents year-over-year growth of approximately 6% at the mid-point of the revenue range.
- Sequential growth of approximately 4% at the mid-point of the revenue range.
- Non-GAAP gross margin is expected to be approximately 53%.