Categories AlphaGraphs, Earnings, Technology

AMD Earnings: Advanced Micro Devices Q2 2023 profit drops on lower revenues

Semiconductor company Advanced Micro Devices, Inc. (NASDAQ: AMD) reported a sharp fall in adjusted profit for the second quarter of 2023, hurt by an 18% decline in revenues.

Advanced Micro Devices Q2 2023 earnings infographic

Earnings, excluding special items, dropped to $0.58 per share in the most recent quarter from $1.05 per share in the second quarter of 2022. On a reported basis, net income was $27 million or $0.02 per share, compared to $447 million or $0.27 per share in the prior-year period.

Second-quarter revenues declined to $5.36 billion from $6.55 billion in the corresponding period of last year.

“We made strong progress meeting key hardware and software milestones to address the growing customer pull for our data center AI solutions and are on track to launch and ramp production of MI300 accelerators in the fourth quarter,” said AMD’s CEO Lisa Su.

Prior Performance

  • Advanced Micro Devices Q4 2022 earnings infographic
  • Advanced Micro Devices Q3 2022 earnings infographic

Most Popular

Key takeaways from Kroger’s (KR) Q1 2025 earnings report

The Kroger Co. (NYSE: KR) recently reported mixed results for the first quarter of fiscal 2025, with earnings beating estimates and sales missing. The grocery giant’s stock rose following the

What to expect when McCormick & Company (MKC) reports Q2 2025 earnings results

Shares of McCormick & Company, Incorporated (NYSE: MKC) gained over 1% on Monday. The stock has dropped 7% over the past three months. The condiments maker is slated to report its second

Earnings Preview: Paychex (PAYX) looks set to end FY25 on a strong note

Paychex Inc. (NASDAQ: PAYX) has benefited from the stable labor market and resilient customers, despite inflationary pressures and the challenging economic environment. The company is leveraging its strong fundamentals and

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top