AMD(US:AMD) 智通财经网·2025-05-06 23:31Core Viewpoint - AMD's first-quarter performance exceeded expectations, but the company warned that restrictions on chip sales to China will reduce its revenue by $1.5 billion this year, overshadowing an otherwise optimistic outlook [1][2] Financial Performance - AMD reported Q1 revenue of $7.4 billion, a 36% year-over-year increase, surpassing analyst expectations of $7.12 billion [1] - Adjusted earnings per share for Q1 were $0.96, exceeding the average analyst estimate of $0.94 [1] - The data center segment saw a 57% year-over-year revenue increase to $3.7 billion, driven by sales of AMD EPY CPUs and AMD Instinct GPUs, outperforming analyst expectations of $3.66 billion [1] - Client and gaming segments experienced a 28% year-over-year revenue growth to $2.9 billion [1] - The embedded segment's revenue declined by 3% year-over-year to $823 million due to mixed demand in the end market [1] Market Position and Strategy - AMD continues to gain market share in the lucrative data center chip market, competing effectively against Intel [1] - The company has transformed into a leading technology provider in the computing industry over the past decade, with current revenue more than five times that of ten years ago [1] - Despite strong demand for personal computer chips, AMD lags behind Nvidia in the rapidly growing AI accelerator market [1] Future Outlook - AMD expects Q2 revenue to be approximately $7.4 billion, above analyst expectations of $7.23 billion, but warns of a $700 million impact on sales from export restrictions on the MI308 chip [2] - CEO Lisa Su remains optimistic about overall AI infrastructure demand and anticipates that new chip launches in the second half of the year will drive sales growth [2] - The company acknowledges uncertainties related to tariffs and trade restrictions but believes investment in AI infrastructure will continue, leading to strong growth in the latter half of the year [2]