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Advanced Micro Devices (AMD) posted revenue of $4.9B, increasing 49% from a year ago, with non-GAAP profits of 92 cents per share, topping the Wall Street consensus of $45B.
Source: AMD
AMD up +11.57%, pre-market trading
The increase in revenue was largely attributable to increased contributions from the chipmaker’s Computing and Graphics and Enterprise, Embedded, and Semi-Custom Segments.
Operating income grew to $1.2 billion, surging 112% over the year-ago quarter based on higher revenue and expansion of gross margin.
Net income dropped to $974 billion or $0.80 per diluted share attributable to a $1.3 billion income tax benefit related to valuation allowance release.
For the full year, AMD’s revenue surged to $16.4B, a 68% increase over 2020s $976B. Operating income expanded 166% to $3.65B as net income rose $3.16B or $2.57 per diluted share.
AMD revised its guidance for the first quarter of 2022 with an estimated revenue range of $4.9B to $5.1B, increasing 45% YoY.
For the full year 2022, AMD’s outlook comprises a total revenue of nearly $21.5 billion, 31% higher than the figure in 2021.
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