Published , by Ozzie Mejia
Published , by Ozzie Mejia
AMD has released its quarterly earnings for Q2 2022. On Tuesday, the company reported $6.55 billion in revenue, a total that's up 70 percent year-over-year. That offsets some slightly worse news for the company in terms of operating losses.
The AMD Q2 2022 quarterly earnings report released on Tuesday afternoon. Its adjusted EPS sits at $1.05 per share versus the mean EPS estimate of $1.03 per share and the whisper EPS of $1.09 per share. Heading into the day, AMD had a mean revenue estimate of $6.5 billion, a total that the company slightly surpassed. The company is looking to record a $6.8 billion revenue total in Q3 2022 with a $6.7 billion guidance. AMD shares were up by $2.51 prior to the market closing on Tuesday, but is trading down in after hours trading, according to Yahoo! Finance.
"We delivered our eighth straight quarter of record revenue based on our strong execution and expanded product portfolio," AMD Chair and CEO Dr. Lisa Su said in the earnings report. "Each of our segments grew significantly year-over-year, led by higher sales of our data center and embedded products. We see continued growth in the back half of the year highlighted by our next generation 5nm product shipments and supported by our diversified business model."
While revenues appear to be growing, they're also offsetting some substantial losses. Operating losses are at $1.5 billion, up from $92 million, due to the amortization of intangible assets from the Xilinx acquisition.
We expect more information on AMD's Q2 2022 earnings and its projections for the next year during Tuesday's earnings call. We'll have that over on the Shacknews Twitch channel. Tune in for the latest and come back to Shacknews for any major updates.