AMD stock jumps 10% after hours on strong financial results
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AMD stock surged nearly 10% in after-hours trading Tuesday following strong quarterly financial results. AMD reported revenue of $1.93 billion and operating income of $173 million. Thanks to strong Ryzen processor sales, Computing and Graphics segment revenue increased 45% to $1.37 billion. AMD also confirmed that there won’t be any delay in its product plans. You can find more details below.
Summary of AMD’s financial results:
- Computing and Graphics segment revenue was $1.37 billion, up 45 percent year-over-year and down 5 percent quarter-over-quarter. Revenue was higher year-over-year driven by strong Ryzen processor sales. The quarter-over-quarter decline was due to lower graphics processor sales.
- Client processor average selling price (ASP) was up year-over-year driven by Ryzen processor sales. Client processor ASP was down quarter-over-quarter due to a higher percentage of Ryzen mobile processor sales.
- GPU ASP was lower year-over-year and quarter-over-quarter due to lower channel sales.
- Operating income was $200 million compared to $22 million a year ago and $262 million in the prior quarter. The year-over-year increase was driven by higher revenue. The quarter-over-quarter decline was due to higher operating expenses and lower revenue.
- Enterprise, Embedded and Semi-Custom segment revenue was $565 million, down 4 percent year-over-year and up 62 percent quarter-over-quarter. Revenue was lower year-over-year due to lower semi-custom product sales largely offset by higher EPYC processor sales. The quarter-over-quarter increase was driven by higher EPYC processor and semi-custom product sales.
- Operating income was $33 million compared to $89 million a year ago and an operating loss of $26 million in the prior quarter. The year-over-year decline was due to higher operating expenses and lower revenue. The quarter-over-quarter increase was driven by higher revenue.
- All Other operating loss was $60 million compared to operating losses of $52 million a year ago and $59 million in the prior quarter.
Source: AMD
