As a long-time tech enthusiast with a particular fondness for AMD’s innovative solutions, I can’t help but feel a mix of excitement and cautious optimism after reading their Q3 2024 earnings report. The impressive revenue numbers, especially from the data center sector, are a testament to AMD’s strategic decisions and market-leading products like the EPYC Series processors.
In simple terms, AMD has shared its financial results for Q3 2024, surpassing analyst predictions with a gross revenue of $6.8 billion USD. This strong performance is attributed to the success of its EPYC server processors and data center products. The company anticipates a profitable quarter, primarily driven by the demand for its upcoming processor series.
“During the third quarter of 2024, we achieved outstanding financial results with a new revenue record, thanks to increased sales of EPYC and Instinct data center products, as well as high consumer demand for our Ryzen PC processors,” said AMD’s Chair and CEO Dr. Lisa Su in her Q3 2024 financial report. “As we move forward, we anticipate substantial growth potential across our data center, personal computer (PC), and embedded business sectors due to the ongoing need for increased computational power.” [sic]
AMD’s Data Center segment reported a significant jump in revenue, reaching approximately $3.5 billion – marking a 122% increase compared to the previous year. A substantial portion of this growth is attributed to AMD’s EPYC Series processors, which have experienced a surge in demand from multiple customers. Remarkably, these earnings helped compensate for the losses incurred by AMD’s gaming sector, where a loss of $462 million was reported.
It appears the stock market showed little excitement towards AMD’s recent earnings report. Although AMD shares closed at an increase of $6.33 per share on Tuesday, October 29th, they dropped over $10 per share in post-market trading.
According to the Q4 2024 financial report forecast, AMD anticipates generating around $7.5 billion in revenue, with a possible variation of +/- $300 million. At the middle point of this range, this equates to an estimated year-on-year growth of roughly 22% and sequential growth of about 10%. Additionally, the non-GAAP gross margin is projected to be approximately 54%.
Keep an eye out for further details following the AMD Q3 2024 earnings call, which will be streamed live and available on-demand on the Shacknews YouTube channel for interested viewers.
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2024-10-30 00:27