AMD Guides Q4 Revenue to ~$17B, Well Above $16.23B Consensus; Shares Jump 7%
AMD has more than doubled off its 52-week low of $188.22.
Summary
AMD guided Q4 revenue to roughly $17 billion, plus or minus 3%, versus a $16.23 billion analyst consensus — a midpoint implying about 66% year-over-year growth and 27% sequential growth. That forward number is the story; the Q3 beat was already out. Q3 revenue came in at $13.38 billion against $13.09 billion expected, adjusted EPS was $2.09 versus $1.95, and Data Center revenue nearly doubled on EPYC processors and the Instinct MI450 GPU launch. Gaming remains the weak spot, down 40% year-over-year on lower semi-custom and graphics sales, but data center demand more than covers it, and Client revenue year-over-year growth softened in Q3. Management also guided Q4 non-GAAP gross margin to about 55% and said growth accelerates from here. Shares rose about 7% after the bell.
At the time of this announcement, AMD was trading at $519.63 on NASDAQ in the Technology sector, with a market capitalization of approximately $790B. The 52-week trading range was $188.22 to $658.52. This news item was assessed with neutral market sentiment and an importance score of 8 out of 10. Source: Reuters.