Advanced Micro Devices, Inc. (NASDAQ: AMD) reported fourth quarter 2020 earnings results today.
Revenue rose 53% year-over-year to $3.24 billion, driven by the Computing and Graphics and the Enterprise, Embedded and Semi-Custom segments.
Net income was $1.78 billion, or $1.45 per share, compared to $170 million, or $0.15 per share, in the same period last year. Adjusted net income rose 66% to $636 million while adjusted EPS increased 63% to $0.52 from last year.
Both revenue and earnings exceeded market expectations.
For the first quarter of 2021, AMD expects revenue to be approx. $3.2 billion, plus or minus $100 million, up approx. 79% year-over-year. For the full year of 2021, revenue is expected to grow approx. 37% over 2020 driven by growth in all businesses.
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