AMD Forecast Strong Revenue Output For 2022

Share post:

AMD forecasts strong revenue output for 2022 with revenue for the full year pegged at $26.3 billion, up about 60%. The revenue projection is ahead of analysts’ estimates of $25.145 trillion.

Advanced Micro Devices (AMD) is banking on its data center boom which it says will boost demand for its chips thereby adding a positive outlook to its revenue.

AMD recorded $5.89 billion in revenue above analysts’ average estimate of $5.52 billion. The company earned $1.13 per share during the quarter compared to Wall Street estimates of 91 cents per share.

For the current quarter, the company expects revenue of about $6.5 billion, plus or minus $200 million. This is above analysts’ expected revenue of $6.38 billion.

“Each of our businesses grew by a significant double-digit percentage year-over-year, led by EPYC server processor revenue more than doubling for the third straight quarter. Our focus remains on the premium, gaming, and commercial portions of the market where we see strong growth opportunities and expect to continue gaining overall client revenue share,” said AMD chief executive Lisa Su.

The sources for this piece include a story in Reuters.


Related articles

Google does the unthinkable – reportedly erasing a 125 billion dollar pension fund

It's reported that Google inadvertently erased the Google Cloud account of UniSuper, an Australian pension fund valued at...

Microsoft’s AI success may spell defeat for it’s climate goals

Microsoft's ambitious strides in AI technology are now posing a significant challenge to its own climate goals, as...

OpenAI’s Chief Scientist Ilya Sutskever Departs Company

Ilya Sutskever, co-founder and chief scientist of OpenAI, has officially announced his departure from the company. This move...

OpenAI snubs Microsoft, launching GPT-4o only on macOS

OpenAI, despite Microsoft's substantial $10 billion investment, has chosen to release its new ChatGPT app exclusively on macOS,...

Become a member

New, Relevant Tech Stories. Our article selection is done by industry professionals. Our writers summarize them to give you the key takeaways