AMD Q2 earnings beat expectations after Intel falters with 7nm delay

AMD today appear its earnings for the 2nd quarter of its 2022 fiscal year. In all, the company reported $1.93 billion in acquirement, which is up 26 percentage from the same catamenia last twelvemonth. Operating income landed at $173 one thousand thousand, while net income came in at $157 1000000.

"We delivered strong second quarter results, led by record notebook and server processor sales every bit Ryzen and EPYC revenue more than than doubled from a year ago," said Dr. Lisa Su, AMD president and CEO, in a press release. "Despite some macroeconomic dubiety, nosotros are raising our total-yr revenue outlook equally we enter our next phase of growth driven by the dispatch of our business organization in multiple markets."

AMD says that its revenue bump was largely driven past its computing and graphics segment. That segment accounted for $1.37 billion in acquirement, which was up 45 pct over the same menstruation last year. Nonetheless, information technology was downwardly five pct compared to Q1 2022 because of lower GPU sales.

"Every bit in Q1, AMD set records in CCG with the highest customer processor revenue in 12 years, driving 45% growth and doubling Ryzen notebook revenue," said Moor Insights & Strategy president and master analyst Patrick Moorhead. "In fact, this was the highest notebook revenues ever. I believe both these records were driven by the company's increased competitiveness in notebooks, particularly with its Ryzen Mobile 4000 platform, which, in Q2, was selling in for dorsum to school designs."

On the enterprise side, AMD says revenue was downwards by four percentage compared to Q2 2022, coming in at $565 million. AMD says information technology saw lower semi-custom product sales that were "largely starting time past higher EPYC processor sales."

The latest earnings report comes as AMD has seen its momentum proceed to grow. The company is coming off of the launch of its tertiary Gen Ryzen 3000XT series of desktop processors, a new prepare of capable Ryzen PRO 4000 serial laptop processors, and growth in the enterprise segment with its EPYC processors.

It also comes days after Intel appear information technology would delay its 7nm CPU launch by half dozen months, falling further behind AMD. AMD'due south stock enjoyed a bump following the news, passing Intel's stock cost for the first time since 2006. Intel this week announced significant leadership changes likely related to the 7nm delay.

Moving forward, AMD says it expects revenue for the third quarter to land around $2.55 billion, which would be up around 42 percent over Q3 2022. This growth is expected to come up from Ryzen, EPYC, and "adjacent generation semi-custom products" sales. Total 2022 acquirement is expected to grow past 32 percent backed past PC, gaming, and data center functioning.

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