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Sep 26, 2020
AMD Q3 2020 Earnings Report
AMD's business accelerated due to strong demand across PC, gaming, and data center products, resulting in record quarterly revenue and substantial year-over-year growth in net income and EPS.
Key Takeaways
AMD reported record revenue for Q3 2020 of $2.80 billion, a 56% increase year-over-year. Net income and EPS more than doubled compared to the previous year, driven by strong demand for PC, gaming, and data center products.
Revenue reached a record $2.80 billion, up 56% year-over-year.
Operating income was $449 million, a 141% increase year-over-year.
Net income was $390 million, a 225% increase year-over-year.
Diluted earnings per share was $0.32, up 191% year-over-year.
AMD
AMD
Forward Guidance
AMD expects revenue to be approximately $3.0 billion, plus or minus $100 million, an increase of approximately 41 percent year-over-year and 7 percent sequentially. AMD expects non-GAAP gross margin to be approximately 45 percent in the fourth quarter of 2020.
Positive Outlook
- The year-over-year increase is expected to be primarily driven by the ramp of new Ryzen, EPYC and semi-custom products
- Growing customer momentum.
- AMD expects revenue to be approximately $3.0 billion, plus or minus $100 million
- AMD expects an increase of approximately 41 percent year-over-year and 7 percent sequentially.
- AMD expects non-GAAP gross margin to be approximately 45 percent in the fourth quarter of 2020.
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”
- global economic backdrop
- customer demand signals
- AMD now expects 2020 revenue to grow by approximately 41 percent compared to 2019, up from prior guidance of 32 percent.