Published , by Ozzie Mejia
Published , by Ozzie Mejia
Following the release of its Q1 2022 financial results, AMD has high expectations for its future. The company announced as part of its earnings report that it is raising full-year guidance for 2022.
"The first quarter marked a significant inflection point in our journey to scale and transform AMD as we delivered record revenue and closed our strategic acquisition of Xilinx," AMD Chair and CEO Dr. Lisa Su said in the AMD Q1 2022 financial results. "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. Demand remains strong for our leadership products, with our increased full-year guidance reflecting higher AMD organic growth and the addition of the growing Xilinx business."
"[AMD] said it expects second quarter revenue of $6.30 billion to $6.70 billion," reads the detailed breakdown on Earnings Whispers. "The current consensus revenue estimate is $6.40 billion for the quarter ending June 30, 2022. The company also said, with the completion of the Xilinx acquisition, it expects 2022 revenue of approximately $26.30 billion. The company's previous guidance was revenue of approximately $21.50 billion and the current consensus revenue estimate is $25.12 billion for the year ending December 31, 2022."
AMD completed its acquisition of Xilinx back in February. The all-stock transaction also coincided with Dr. Su's appointment as new AMD CEO. The Xilinx acquisition has opened the door for AMD to significantly expand its scale and portfolio, furthering its reach into the home computing and cloud computing markets.
AMD has previously outlined grand plans for 2022, revealing the AMD Ryzen 6000 Series back at CES 2022. The company had announced the new series of processors for this year and have been included in newly-released laptops, such as the Razer Blade 14 and the ASUS ROG Strix G15. The Ryzen 7000 desktop processors are expected to hit the market later this year.
We'll have more to say about AMD as the company issues out its Q1 2022 financial results and prepares for its quarterly conference call. For more, keep it on Shacknews.