Advanced Micro Devices, Inc. (AMD) Tops Q2 EPS by 9c, Q3 Revenue Guidance Beats

Advanced Micro Devices, Inc. (NASDAQ: AMD) reported Q2 EPS of $0.63, $0.09 better than the analyst estimate of $0.54. Revenue for the quarter came in at $3.85 billion versus the consensus estimate of $3.62 billion.

GUIDANCE:

Advanced Micro Devices, Inc. sees Q3 2021 revenue of $4-4.2 billion, versus the consensus of $3.82 billion.

• The following statements are forward-looking and actual results could differ materially depending on market conditions and the factors set forth under “Cautionary Statement” below.For the third quarter of 2021, AMD expects revenue to be approximately $4.1 billion, plus or minus $100 million, an increase of approximately 46 percent year-over-year and approximately 6 percent quarter-over-quarter. The year-over-year increase is expected to be driven by growth across all businesses. The quarter-over-quarter increase is expected to be primarily driven by growth in AMD’s data center and gaming businesses. AMD expects non-GAAP gross margin to be approximately 48 percent in the third quarter of 2021.For the full year 2021, AMD now expects revenue growth of approximately 60 percent, up from prior guidance of approximately 50 percent, driven by strong growth across all businesses. AMD now expects non-GAAP gross margin to be approximately 48 percent for the full year 2021, up from prior guidance of approximately 47 percent.

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