AMD has reported its latest financial results for the third quarter of this year, posting its sixth consecutive quarter of growth.
AMD: Revenue up 54% thanks to demand for servers and consoles
AMD’s financial results are better than expected by analysts, who had expected lower numbers. Now things are different, and forecasts are already suggesting that the fourth quarter could be even better for the red company.
Here’s how the chipmaker fared against Refinitiv’s consensus estimates for the quarter ended Oct. 2:
eps: $0.73, adjusted, vs. $0.67 expected, up 16% year over year.
Revenue: $4.31 billion vs. $4.12 billion expected, up 54% year over year.
AMD itself expects to exceed those numbers in the fourth quarter with revenue of $4.5 billion. Analysts are or were expecting fourth-quarter revenue of $4.25 billion. If AMD’s numbers are indeed that, year-over-year growth would be 39%.
The company reported that sales of server and console chips grew the most in the embedded, enterprise and semi-custom segments. AMD reported sales of $1.9 billion in this key category, up 69% year-over-year.
AMD will soon announce new EPYC processors and Radeon Instinct graphics to further boost its performance in the server segment.
Meanwhile, Sony’s PlayStation 5 gaming consoles and Microsoft’s new Xbox models remain in high demand and hard to come by, selling out quickly.
“Demand for Microsoft’s and Sony’s game consoles remains very strong,” AMD said. The company also said it repurchased $750 million in stock during the quarter. Since then, the stock is up 30%.
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