AMD Announces First Quarter 2023 Financial Results

Making brand new announcements, AMD announced its financial reports for the first quarter of 2023. In the first quarter of the year, revenue of $5.4 billion and a gross margin of 44% were reported.

For the first quarter of 2023, AMD announced revenue of $5.4 billion, a gross margin of 44%, an operating loss of $145 million, a diluted loss of $139 million and $0.09 per share. On a non-GAAP basis, gross profit was 50%, operating income was $1.1 billion, net income was $970 million, and diluted earnings per share were $0.60.

AMD President and CEO Dr. Lisa Su said, “We performed very well in the first quarter as we generated better-than-expected revenue and earnings in a mixed demand environment. We have launched more than one segment-leading product. Again this quarter, we made significant progress by accelerating our Artificial Intelligence roadmap and customer relations. In the longer term, where we will successfully deliver our roadmaps, we see significant growth opportunities as we drive our strategic data center and established priorities, while accelerating the adoption of our AI portfolio.” said.

Jean Hu, AMD EVP, CFO and Chief Financial Officer, said: “Our strategically important Data Center and Embedded segments generated more than 50 percent of revenue in the first quarter. In the second quarter, we expect growth in our Data Center and Client segments, as well as in our Gaming and Embedded segments, offset by modest declines. With the growth of the PC and server market and the increase in the number of new products, we have full confidence in our growth in the second half of the year.” made statements.

Highlights in the first quarter

• At AMD, we maintain our leadership in computing as major cloud service providers such as Microsoft Azure, Google Cloud and Oracle Cloud Infrastructure announce new capabilities based on AMD EPYC processors.
• AMD has expanded its capabilities for developers to build robust AI solutions using AMD products, including updates to the PyTorch Foundation’s PyTorch 2.0 framework now offering native support for ROCm software, and the latest TensorFlow-ZenDNN plug-in that enables neural network extraction on AMD EPYC CPUs. .
• AMD announced that the AMD Alveo MA35D media accelerator, with an integrated AI processor that dynamically adjusts video quality, will power a new era of live, interactive streaming services.
• AMD has expanded its embedded processor portfolio with powerful, scalable offerings for a variety of embedded applications.AMD has demonstrated its growing presence in the telecommunications space, such as expanding collaboration with Nokia to power Nokia Cloud RAN solutions.
• AMD Ryzen mobile processors power new commercial, consumer and gaming experiences.
• Samsung and AMD have signed a multi-year agreement to bring multiple generations of high-performance, ultra-low-power AMD Radeon™ graphics solutions to the expanded Samsung Exynos SoC portfolio.
• AMD announced the AMD Radeon PRO W7000 Series graphics cards, the first professional graphics cards built on advanced AMD chiplet design to deliver leadership performance and unique features.
• AMD FidelityFX Super Resolution technology is now supported in 250 current and upcoming games, 110 of which support FSR 2, the latest update of cross-platform temporal amplification technology.
• AMD announced the appointment of Jack Huynh as Senior Vice President and General Manager of Computing and Graphics following the retirement of Rick Bergman, former Vice President of Computing and Graphics.

Current status

AMD expects revenue in the second quarter of 2023 to be approximately $5.3 billion, plus or minus $300 million. AMD expects its non-GAAP gross margin to be approximately 50%.

These statements made by AMD for the upcoming period are based on current expectations. Actual results may differ significantly depending on market conditions and certain factors.