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Shanthi Rexaline

AMD Beats Estimates As Server And PC Processors Drive Revenue Growth

AMD Srini Pajjuri

POLAND - 2023/07/31: In this photo illustration an AMD logo seen displayed on a smartphone with stock market percentages on a laptop screen. (Photo Illustration by Omar Marques/SOPA Images/LightRocket via Getty Images)

Advanced Micro Devices, Inc. (NASDAQ:AMD) reported second-quarter results Tuesday that exceeded estimates, as its business segments — with the exception of gaming — reported sequential revenue growth. The company noted strong demand for its server and PC processors and hinted at a strong AI revenue pipeline when its AI-specific chip launches in the fourth quarter.

AMD’s Q2 Headline Numbers: For the second quarter that ended June 30, 2023, AMD reported non-GAAP earnings per share of 58 cents, ahead of the consensus estimate of 52 cents per share.

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