Infographic: Advanced Micro Devices Q1 2023 earnings drop on lower revenues

Semiconductor company Advanced Micro Devices, Inc. (NASDAQ: AMD) reported a sharp fall in adjusted profit for the first quarter of 2023, hurt by a 9% decline in revenues.

Earnings, excluding special items, dropped to $0.60 per share in the most recent quarter from $1.13 per share in the first quarter of 2022. On a reported basis, it was a net loss of $139 million or $0.09 per share, compared to net income of $786 million or $0.56 per share in the prior-year period.

First-quarter revenues declined to $5.35 billion from $5.89 billion in the corresponding period of last year.

“Longer-term, we see significant growth opportunities as we successfully deliver our roadmaps, execute our strategic data center and embedded priorities and accelerate adoption of our AI portfolio,” said AMD’s CEO Lisa Su.

Prior Performance