Advanced Micro Devices reports EPS in-line, beats on revs; guides Q4 revs in-line (166.25 +6.33)
- Reports Q3 (Sep) earnings of $0.92 per share, excluding non-recurring items, in-line with the FactSet Consensus of $0.92; revenues rose 17.6% year/year to $6.82 bln vs the $6.71 bln FactSet Consensus.
- 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.
- Co issues in-line guidance for Q4, sees Q4 revs of $7.2-7.8 bln vs. $7.55 bln FactSet Consensus.
- Non-GAAP gross margin is expected to be approximately 54%.