Advanced Micro Devices Non-GAAP EPS of $0.92 in-line, revenue of $6.82B beats by $110M

• Advanced Micro Devices press release (NASDAQ:AMD): Q3 Non-GAAP EPS of $0.92 in-line.
• Revenue of $6.82B (+17.6% Y/Y) beats by $110M.
• Shares -3.81%.

• Segment Summary

  • Record Data Center segment revenue of $3.5 billion was up 122% year-over-year and 25% sequentially primarily driven by the strong ramp of AMD Instinct™ GPU shipments and growth in AMD EPYC™ CPU sales.
  • Client segment revenue was $1.9 billion, up 29% year-over-year and 26% sequentially primarily driven by strong demand for “Zen 5” AMD Ryzen™ processors.
  • Gaming segment revenue was $462 million, down 69% year-over-year and 29% sequentially primarily due to a decrease in semi-custom revenue.
  • Embedded segment revenue was $927 million, down 25% year-over-year as customers normalized their inventory levels. On a sequential basis, revenue increased 8% as demand improved in several end markets.

  • Current Outlook

    AMD’s outlook statements are based on current expectations. The following statements are forward-looking and actual results could differ materially depending on market conditions and the factors set forth under “Cautionary Statement” below.

    For the fourth quarter of 2024, AMD expects revenue to be approximately $7.5 billion, plus or minus $300 million. At the mid-point of the revenue range, this represents year-over-year growth of approximately 22% and sequential growth of approximately 10%. Non-GAAP gross margin is expected to be approximately 54%.

  • Q4 revenue consensus is $7.55B

Note: The revised post corrects revenue.