As a seasoned gamer with decades of experience under my belt, I can’t help but feel a tinge of concern when I see AMD’s gaming segment revenue taking such a hit. I remember the thrill of those early days, the anticipation before each new console release, and the excitement that came with it.
In Q2 2024, AMD surpassed expected earnings, primarily driven by robust GPU sales and CPU transactions. However, it’s important to mention that the gaming sector appears to be facing some challenges. AMD’s gaming segment revenue dropped by approximately $648 million or 59% compared to the same period last year, largely due to a decline in semi-custom income.
According to the Q2 2024 earnings report released on Tuesday, AMD’s gaming segment revenue dropping significantly is worth mentioning due to the gaming hardware connected to AMD’s custom semi-conductor chips. AMD has provided these custom chips to PlayStation, Xbox, and Valve, suggesting a link with declining hardware sales. Earlier today, Microsoft revealed during its Q4 2024 earnings announcement that Xbox hardware sales dropped by 42% compared to the previous year.
As a gaming enthusiast, I’m excited to see AMD pouring more resources into AI technology development. Upcoming products like the AMD Instinct MI325X accelerator and the AMD Ryzen AI 300 Series processors are set to prioritize AI tech, but don’t worry, us gamers aren’t being left behind! The new AMD Ryzen 9000 Series processors, powered by the Zen 5 architecture, are still in the works for us regular consumers.
On Tuesday, July 30, AMD’s (NASDAQ: AMD) share price dropped by about $1.31 per share at market close. However, the situation improved in after-hours trading, with the stock closing up between $9 to $10 per share.
Here at Shacknews, we’ll keep you updated on major financial news related to tech firms such as AMD. Stay tuned for the most recent developments!
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2024-07-31 00:57