Lisa Su, CEO of AMD, discussed the company’s EPYC processor during a keynote address at CES in Las Vegas on January 9th. In the quarter ending in March, AMD’s earnings per share came in at 62 cents adjusted, exceeding LSEG consensus expectations and revenue reached $5.47 billion as opposed to the expected $5.46 billion.
AMD’s outlook for the current quarter is an expected $5.7 billion in sales, representing a 6% annual growth and is in line with Wall Street estimates. The company recorded net income of $123 million or 7 cents per share, a significant improvement compared to a net loss of $139 million or 9 cents per share during the same period last year. Revenue was also up about 2% year-over-year.
One of AMD’s successful segments was the Data Center which showed an impressive 80% growth year-over-year to $2.3 billion, driven by sales of its MI300 AI chip which competes with Nvidia’s AI graphics processors. The company noted that it had sold over $1 billion worth of the AI chips since their fourth-quarter 2023 launch. Additionally, AMD’s client segment revenue, their original business of processors for chips and PCs, reported $1.4 billion in first-quarter sales, marking an 85% annual increase.
However, AMD’s gaming segment was their weakest division, declining by 48% annually to $922 million, attributed to lower chip sales for game consoles and PCs