$2.80 Billion: AMD’s Revenue in 3Q 2020

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AMD reported that its business accelerated in the third quarter as strong demand for our PC, gaming and data center products drove record quarterly revenue

AMD (NASDAQ: AMD) has reported record revenue for the third quarter of 2020 at $2.80 billion. The company’s operating income during the quarter was $449 million, net income $390 million and diluted earnings per share of $0.32. On a non-GAAP basis, its operating income was $525 million, net income was $501 million and diluted earnings per share was $0.41.

“Our business accelerated in the third quarter as strong demand for our PC, gaming and data center products drove record quarterly revenue,” said Dr Lisa Su, AMD president and CEO.

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She added, “We reported our fourth straight quarter with greater than 25 percent year-over-year revenue growth, highlighting our significant customer momentum. We are well positioned to continue delivering best-in-class growth as we further extend our leadership product portfolio with the launches of our next generation Ryzen, Radeon and EPYC processors.”

Computing and graphics segment revenue was $1.67 billion

The company’s computing and graphics segment revenue was $1.67 billion, up 31 per cent year-over-year and 22 per cent quarter-over-quarter. Revenue was higher year-over-year driven by a significant increase in Ryzen processor sales partially offset by lower graphics revenue. Revenue, as per the company, was higher quarter-over-quarter driven by a significant increase in Ryzen processor sales and an increase in graphics revenue.

AMD’s enterprise, embedded and semi-custom segment revenue was $1.13 billion, up 116 per cent year-over-year and 101 per cent quarter-over-quarter. Revenue was higher year-over-year and quarter-over-quarter due to higher semi-custom product sales and increased EPYC processor sales.

For the fourth quarter of 2020, AMD expects revenue to be approximately $3 billion, plus or minus $100 million. The figures represent an increase of approximately 41 percent year-over-year and 7 percent sequentially. The company also expects 2020 revenue to grow by approximately 41 per cent compared to 2019, up from prior guidance of 32 per cent.

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