AMD Q2 2024 Earnings Report
Key Takeaways
AMD announced strong Q2 2024 financial results with revenue of $5.8 billion, a gross margin of 49%, and operating income of $269 million. The company's growth was primarily driven by record Data Center segment revenue and strong growth in the Client segment. AMD is well-positioned for continued growth in the second half of the year, led by demand for Instinct, EPYC, and Ryzen processors.
AMD delivered strong revenue and earnings growth in the second quarter, driven by record Data Center segment revenue.
The AI business continued accelerating, positioning AMD to deliver strong revenue growth in the second half of the year.
AMD executed well with revenue above the midpoint of guidance, driven by strong growth in the Data Center and Client segments.
Gross margin expanded and solid earnings growth was delivered, while increasing strategic AI investments for future growth.
AMD
AMD
Forward Guidance
For the third quarter of 2024, AMD expects revenue to be approximately $6.7 billion, plus or minus $300 million. Non-GAAP gross margin is expected to be approximately 53.5%.
Positive Outlook
- Revenue is expected to be approximately $6.7 billion, plus or minus $300 million.
- Represents year-over-year growth of approximately 16% at the midpoint of the revenue range.
- Sequential growth of approximately 15% is expected at the midpoint of the revenue range.
- Non-GAAP gross margin is expected to be approximately 53.5%.