Categories AlphaGraphs, Earnings, Technology

Infographic: AMD Q3 results beat; to acquire Xilinx for $35 billion

Semiconductor company Advanced Micro Devices, Inc. (NASDAQ: AMD) Tuesday said its third-quarter revenues grew 56% as demand conditions continued to improve. Consequently, earnings increased and surpassed the consensus estimate. Separately, the company announced the acquisition of rival chipmaker Xilinx (XLNX).

Advanced Micro Devices Q3 2020 earnings infographic

In the September quarter, revenues surged 56% year-over-year to $2.8 billion, which is also above the market’s projection. Adjusted net income was $0.41 per share, compared to $0.18 per share in the third quarter of 2019. Analysts had predicted a slower bottom-line growth.

Net income, including special items, jumped to $390 million or $0.32 per share from $120 million or $0.11 per share in the year-ago quarter.

Read management/analysts’ comments on AMD’s Q2 results

In a separate statement, the company said it signed an agreement to acquire Silicon Valley tech firm Xilinx, Inc. for $35 billion. The transaction, which is expected to close by the end of the calendar year 2021, will be immediately accretive to AMD’s margins, earnings, and free cash flow.

“Our acquisition of Xilinx marks the next leg in our journey to establish AMD as the industry’s high-performance computing leader and partner of choice for the largest and most important technology companies in the world. This is truly a compelling combination that will create significant value for all stakeholders, including AMD and Xilinx shareholders who will benefit from the future growth and upside potential of the combined company,” said AMD’s CEO Dr. Lisa Su.

Soon after the report came out, AMD shares declined in Tuesday’s early trading hours, paring a part of the recent gains. The stock has gained 64% since the beginning of the year.

  • Advanced Micro Devices (AMD) Q3 2019 earnings; provides weaker Q4 outlook
  • Advanced Micro Devices (AMD) Q2 profit dips 70% but meets estimates

Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!

Most Popular

CL Earnings: Key quarterly highlights from Colgate-Palmolive Company’s Q4 2022 financial results

Colgate-Palmolive Company (NYSE: CL) reported fourth quarter 2022 earnings results today. Net sales increased 5% year-over-year to $4.62 billion. Organic sales growth was 8.5%. Net income attributable to Colgate-Palmolive Company was

Key highlights from Chevron Corporation’s (CVX) Q4 2022 earnings results

Chevron Corporation (NYSE: CVX) reported fourth quarter 2022 earnings results today. Total revenues and other income were $56.4 billion compared to $48.1 billion in the year-ago period. Net income attributable

AXP Earnings: All you need to know about American Express’ Q4 2022 earnings results

American Express Company (NYSE: AXP) reported fourth quarter 2022 earnings results. Consolidated total revenues net of interest expense were $14.2 billion, up 17% from a year ago. Net income was

Add Comment
Viewing Highlight