Advanced Micro Devices (AMD) came out with quarterly earnings of $0.92 per share, beating the Zacks Consensus Estimate of $0.91 per share. This compares to earnings of $0.70 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 1.10%. A quarter ago, it was expected that this chipmaker would post earnings of $0.67 per share when it actually produced earnings of $0.69, delivering a surprise of 2.99%. Over the last four quarters, the ...

A new report about OpenAI's hardware strategy just powered significant gains for AMD stock.Advanced Micro Devices (AMD 3.96%) stock surged in Tuesday's trading. The company's share price closed out the day's trading up 4% and had been up as much as 4.7% earlier in the session.Reuters published a report today detailing elements of OpenAI's strategy when it comes to the use of hardware for artificial intelligence (AI). While most of the report was concentrated on the company's efforts to design a new AI chip ...

Advanced Micro Devices (AMD) reported third-quarter earnings that missed expectations, sending shares lower after the closing bell Tuesday. The chipmaker's third-quarter revenue grew 18% year-over-year to $6.82 billion, ahead of the Visible Alpha analyst consensus. Net income at $771 million or 47 cents per share was up from $299 million or 18 cents per share a year earlier, but below Street estimates as costs rose. AMD's Outlook Disappoints Despite Record Data Center Revenue AMD's revenue gains came as dat ...

ToplineAdvanced Micro Devices beat Wall Street expectations on earnings and revenue by a small margin, sending shares of the semiconductor firm tumbling in after-hours trading.Advanced Micro Devices, Inc. (AMD) logo seen displayed on a smartphone with an AI chip and symbol in ... [+] the background. (Photo Illustration by Budrul Chukrut/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty Images Key FactsAMD reported $0.92 earnings per share and $6.8 in revenue in the third quarter of ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Advanced Micro Devices (AMD) reported third-quarter results on Tuesday, with earnings in line with forecasts and revenue that slightly beat expectations.Here's how the company did, compared to LSEG estimates for the quarter ending Sept. 28:Earnings per share: 92 cents adjusted vs. 92 cents expectedRevenue: $6.82 billion vs. $6.71 billion expectedAMD said its important data center business doubled in sales for the second quarter in a row, but overall revenue guidance for the fourth quarter was in line with c ...

Financial Performance - AMD reported Q3 2024 revenue of $6.8 billion, with a gross margin of 50% and net income of $771 million[2] - Non-GAAP Q3 2024 revenue was $6.8 billion, with a gross margin of 54% and net income of $1.5 billion[2] - AMD's Q3 2024 net revenue reached $6.819 billion, a 17% increase from Q2 2024[23] - AMD's Q3 2024 gross margin improved to 50%, up from 49% in Q2 2024[23] - AMD's Q3 2024 operating income surged to $724 million, a 169% increase from Q2 2024[23] - AMD's Q3 2024 net income was $771 million, a 191% increase from Q2 2024[23] - AMD's nine-month net revenue for 2024 totaled $18.127 billion, a 10% increase from the same period in 2023[23] - AMD's nine-month gross margin for 2024 improved to 49%, up from 46% in the same period in 2023[23] - AMD's nine-month operating income for 2024 was $1.029 billion, a significant increase from $59 million in the same period in 2023[23] - AMD's nine-month net income for 2024 was $1.159 billion, a substantial increase from $187 million in the same period in 2023[23] - Net income for the nine months ended September 28, 2024, was $1.159 billion, a significant increase from $187 million in the same period last year[25] - Adjusted EBITDA rose to $1,887 million in September 2024, up from $1,430 million in June 2024 and $1,439 million in September 2023[28] - Free cash flow increased to $496 million in September 2024, compared to $439 million in June 2024 and $297 million in September 2023[29] - Free cash flow margin improved to 7% in September 2024, compared to 8% in June 2024 and 5% in September 2023[29] Segment Performance - Data Center segment revenue reached a record $3.5 billion, up 122% year-over-year and 25% sequentially[6] - Client segment revenue was $1.9 billion, up 29% year-over-year and 26% sequentially[6] - Data Center segment net revenue increased to $3,549 million in September 2024, up from $2,834 million in June 2024 and $1,598 million in September 2023[26] - Client segment operating income improved to $276 million in September 2024, compared to $89 million in June 2024 and $140 million in September 2023[26] - Gaming segment net revenue declined to $462 million in September 2024, down from $648 million in June 2024 and $1,506 million in September 2023[26] Future Outlook - AMD expects Q4 2024 revenue to be approximately $7.5 billion, representing year-over-year growth of 22% and sequential growth of 10%[16] - AMD expects record annual revenue growth for 2024 driven by significant growth in Data Center and Client segments[20] - AMD anticipates Q4 2024 revenue and non-GAAP gross margin to align with financial outlook[20] Acquisitions and Strategic Investments - AMD announced the acquisition of ZT Systems to expand data center AI systems capabilities, expected to close in the first half of 2025[12] - AMD completed the acquisition of Silo AI to accelerate development and deployment of AI models on AMD hardware[13] - Acquisitions, net of cash acquired, amounted to $548 million, indicating ongoing strategic investments[25] Product Announcements - AMD unveiled new AMD EPYC 9005 Series processors and AMD Instinct MI325X accelerators for enterprise AI solutions[7][8] - AMD announced new Ryzen AI PRO 300 Series mobile processors with 50+ AI TOPS for next-gen AI PCs[9] Partnerships and Collaborations - AMD and Intel announced the creation of an x86 ecosystem advisory group to collaborate on architectural interoperability[14] Balance Sheet and Cash Flow - Total assets increased to $69.636 billion from $67.885 billion, reflecting growth in current and non-current assets[24] - Cash and cash equivalents decreased slightly to $3.897 billion from $3.933 billion, with a net decrease of $36 million over the nine-month period[25] - Accounts receivable increased to $7.241 billion from $5.376 billion, indicating higher sales activity[24] - Inventories rose to $5.374 billion from $4.351 billion, reflecting increased production or procurement[24] - Net cash provided by operating activities for the nine months ended September 28, 2024, was $1.742 billion, up from $1.286 billion in the same period last year[25] - Total current liabilities increased to $7.500 billion from $6.689 billion, driven by higher accounts payable and accrued liabilities[24] - Stockholders' equity grew to $56.985 billion from $55.892 billion, supported by retained earnings and additional paid-in capital[24] - Net cash used in financing activities was $1.891 billion, primarily due to common stock repurchases and tax withholding on employee equity plans[25] - Total assets grew to $69,636 million in September 2024, up from $67,886 million in June 2024 and $67,626 million in September 2023[26] - Stock-based compensation expense was $351 million in September 2024, slightly higher than $346 million in June 2024 and $353 million in September 2023[28] - Capital expenditures decreased to $132 million in September 2024, down from $154 million in June 2024 and $124 million in September 2023[26]

SANTA CLARA, Calif., Oct. 29, 2024 (GLOBE NEWSWIRE) -- AMD (NASDAQ:AMD) today announced revenue for the third quarter of 2024 of $6.8 billion, gross margin of 50%, operating income of $724 million, net income of $771 million and diluted earnings per share of $0.47. On a non-GAAP(*) basis, gross margin was 54%, operating income was $1.7 billion, net income was $1.5 billion and diluted earnings per share was $0.92. “We delivered strong third quarter financial results with record revenue led by higher sales of ...

AMD is about to post earnings soon after this hits your inbox, after markets close today (along with GOOGL). Options traders are staking some big claims about what the outcome of that earnings release will be.But before I get into where I think AMD will land, I'd like to go over a few points.First off, AMD has had a wide range this year starting around $134, hitting a high of $226 and currently printing around $164 having only hit $150 6 days ago. What this translates into is AMD is sitting towards the lowe ...

A significant driver of the ongoing two-year bull run is the potential of AI to revolutionize entire industries. While Nvidia (NASDAQ: NVDA) is the biggest beneficiary of this fact thus far — having seen impressive gains of 190.49% year-to-date (YTD), such a rapid rise has led to widespread concerns about the company's valuation. In contrast, NVDA's only real, direct competitor in terms of chipmaking, Advanced Micro Devices (NASDAQ: AMD) has seen comparatively modest gains of 16.09% in the same period. Finb ...