Categories AlphaGraphs, Earnings, Technology

AMD Earnings: Advanced Micro Devices Q4 revenue up 16%, profit drops

January 31, 2023February 1, 2023

Semiconductor company Advanced Micro Devices, Inc. (NASDAQ: AMD) reported a decline in fourth-quarter earnings, despite an increase in revenues.

Earnings, excluding special items, dropped to $0.69 per share in the most recent quarter from $0.92 per share in the fourth quarter of 2021. Net income, on a reported basis, was $21 million or $0.01 per share, compared to $974 million or $0.80 per share in the prior-year period.

Check this space to read management/analysts’ comments on AMD’s Q4 2022 results

Fourth-quarter revenues climbed to $5.60 billion from $4.83 billion in the corresponding period of last year. The top line also topped Wall Street’s prediction.

“We accelerated our data center momentum and closed our strategic acquisition of Xilinx, significantly diversifying our business and strengthening our financial model. Although the demand environment is mixed, we are confident in our ability to gain market share in 2023 and deliver long-term growth based on our differentiated product portfolio,” said AMD’s CEO Lisa Su.