- Advanced Micro Devices (NASDAQ:AMD) reports Q2 earnings with EPS and revenue beats.
- Computing and Graphics segment sales up 51% on the year to $659M and 24% sequentially. Client and GPU ASPs were both up on the year, and operating income returns to the green with $7M compared to last year’s $81M loss. Improvements were due to pricing and product mix.
- Enterprise, Embedded and Semi-Custom segment sales down 5% to $563 due to lower semi-custom SoC sales. Operating income dropped from last year’s $84M to $42M due to lower sales and higher R^D investments in datacenters.
- Other segment also had an operating loss increase from $11M last year to $24M due to stock-based compensation charges and a $7M restructuring credit.
- AMD ended the quarter with $844M in cash and equivalents.
- Q3 guidance: revenue up 20% to 26% sequentially with the midpoint at about 15% year-over-year, which would put the actual number around $1.5B compared to the $1.39B consensus.
- Press release
- AMD shares are up 6.8% aftermarket.
- Previously: Advanced Micro Devices beats by $0.02, beats on revenue (July 25)
- Now read: Why AMD's Vega Matters
Original article