Advanced Micro reports EPS in-line, revs in-line; guides Q1 revs below consensus (172.06 -5.77)
- Reports Q4 (Dec) earnings of $0.77 per share, excluding non-recurring items, in-line with the FactSet Consensus of $0.77; revenues rose 10.2% year/year to $6.17 bln vs the $6.13 bln FactSet Consensus.
- Non-GAAP gross margins were flat yr/yr at 51%.
- Data Center segment revenue in the quarter was $2.3 billion, up 38% year-over-year and 43% sequentially driven by strong growth in AMD Instinct GPUs and 4th Gen AMD EPYC CPUs.
- Client segment revenue was $1.5 billion, up 62% year-over-year driven primarily by an increase in AMD Ryzen 7000 Series CPU sales.
- Gaming segment revenue was $1.4 billion, down 17% year-over-year and 9% sequentially, due to a decrease in semi-custom revenue, partially offset by an increase in AMD Radeon GPU sales.
- Embedded segment revenue was $1.1 billion, down 24% year-over-year and 15% sequentially primarily due to customers reducing their inventory levels.
- Co issues downside guidance for Q1, sees Q1 revs of $5.1-5.7 bln vs. $5.73 bln FactSet Consensus.
- Co expects Data Center segment revenue to be flat, with a seasonal decline in server sales offset by a strong Data Center GPU ramp. Client, Embedded and Gaming segment sales are expected to decline sequentially, with semi-custom revenue expected to decline by a significant double-digit percentage.
- Non-GAAP gross margin is expected to be approximately 52%.