AMD Stock Revenue Climbs 38% to $10.25 Billion in Q1
Published on Β· Source: finance.yahoo.com
AI Summary
Summarized by AI from the source belowAdvanced Micro Devices (AMD) reported Q1 revenue of $10.25 billion, a 38% year-over-year increase, exceeding analyst expectations of $9.89 billion. Adjusted earnings per share rose 43% to $1.37, surpassing the forecast of $1.29. Data center CPU revenue surged 57% to $5.8 billion, driven by increasing demand in the AI market, with projections indicating a total addressable market of $120 billion by 2020. AMD anticipates continued growth, with data center CPU revenue expected to increase by 70% in Q2 and averaging rising prices for next-generation CPUs.
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About Advanced Micro Devices Inc. (AMD)
Advanced Micro Devices designs CPUs and GPUs that compete with Intel and Nvidia across PCs, gaming consoles, data centers, and AI workloads.
The Information Technology sector covers hardware, software and semiconductor companies driving the digital economy.
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