AMD Reports Record Q3 Revenue Amid Strong AI Chip Demand
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AMD Reports Record Q3 Revenue Amid Strong AI Chip Demand

Summary

Advanced Micro Devices (AMD) announced a 36% year-over-year increase in third-quarter revenue, reaching $9.2 billion, driven by robust demand for its AI and data center products.

Advanced Micro Devices (AMD) reported a 36% year-over-year increase in third-quarter revenue, reaching a record $9.2 billion. This growth was primarily driven by strong demand for the company's EPYC processors and Instinct AI accelerators.

The Data Center segment saw a 22% revenue increase to $4.3 billion, while the Client and Gaming segment experienced a 73% surge to $4.0 billion.

CEO Dr. Lisa Su stated, "We delivered an outstanding quarter, with record revenue and profitability reflecting broad-based demand for our high-performance EPYC and Ryzen processors and Instinct AI accelerators."

For the fourth quarter, AMD forecasts revenue of approximately $9.6 billion, plus or minus $300 million, representing a 25% year-over-year growth at the midpoint.

Despite these strong results, AMD's stock declined by 3.9% in after-hours trading, potentially due to broader market concerns about high valuations in the AI sector.

Source

The Motley Fool

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Fact-checking

Fact-check the facts of the article using external sources and databases.

✓
Confirmed

Advanced Micro Devices (AMD) reported a 36% year-over-year increase in third-quarter revenue, reaching a record $9.2 billion.

✓
Confirmed

The Data Center segment saw a 22% revenue increase to $4.3 billion, while the Client and Gaming segment experienced a 73% surge to $4.0 billion.

✓
Confirmed

CEO Dr. Lisa Su stated, 'We delivered an outstanding quarter, with record revenue and profitability reflecting broad-based demand for our high-performance EPYC and Ryzen processors and Instinct AI accelerators.'

✓
Confirmed

For the fourth quarter, AMD forecasts revenue of approximately $9.6 billion, plus or minus $300 million, representing a 25% year-over-year growth at the midpoint.

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Partly Confirmed

Despite these strong results, AMD's stock declined by 3.9% in after-hours trading, potentially due to broader market concerns about high valuations in the AI sector.

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