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Jul 01, 2023
AMD Q2 2023 Earnings Report
AMD reported strong Q2 2023 results driven by the ramp of 4th Gen EPYC and Ryzen 7000 processors.
Key Takeaways
AMD announced Q2 2023 revenue of $5.4 billion, a gross margin of 46%, an operating loss of $20 million, net income of $27 million, and diluted earnings per share of $0.02. On a non-GAAP basis, the company reported a gross margin of 50%, operating income of $1.1 billion, net income of $948 million, and diluted earnings per share of $0.58.
Data Center segment revenue was $1.3 billion, down 11% year-over-year.
Client segment revenue was $998 million, down 54% year-over-year, but increased 35% sequentially.
Gaming segment revenue was $1.6 billion, down 4% year-over-year.
Embedded segment revenue was $1.5 billion, up 16% year-over-year.
Revenue by Segment
Forward Guidance
For the third quarter of 2023, AMD expects revenue to be approximately $5.7 billion, plus or minus $300 million, and expects non-GAAP gross margin to be approximately 51%.
Positive Outlook
- Revenue to be approximately $5.7 billion, plus or minus $300 million
- Data Center segment revenues to grow by a double-digit percentage sequentially
- Client segment revenues to grow by a double-digit percentage sequentially
- Increasing demand for our EPYC processors
- Increasing demand for our Ryzen processors
Challenges Ahead
- Actual results could differ materially depending on market conditions
- Actual results could differ materially depending on the factors set forth under “Cautionary Statement”
- Gaming segment declines
- Embedded segment declines
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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