From CNBC: 2024-07-30 17:55:51

Lisa Su engaged in conversation with Ryan Patel at the SXSW 2024 Conference, where Advanced Micro Devices (AMD) reported earnings that surpassed expectations. AMD’s revenue of $5.83 billion exceeded the $5.72 billion expected, resulting in an 8% rise in shares. The chipmaker reported expected sales of $6.7 billion for the current quarter.

In the second quarter of 2024, AMD reported a net income of $265 million, or 16 cents per share, a significant increase from the year-ago period. Their AI chip sales exceeded $1 billion, contributing to the growth of their Data Center segment by 115% year-over-year. Core business sales also grew, indicating a recovering market post-pandemic.

Despite AMD’s AI chip success, their gaming revenue suffered at $648 million, a 59% decrease year-over-year. The acquired Xilinx segment reported $861 million in sales for industrial customers, beating Wall Street expectations. Optimism remains about market share gains from rival Nvidia and growth in the data center AI business.



Read more at CNBC:: AMD earnings report Q2 2024