Published , by Donovan Erskine
Published , by Donovan Erskine
AMD has released its earnings report for Q3 2023, showing a beat for both revenue and earnings-per-share. The report also included some insight about AMD’s gaming division, as the company is a leading brand in processors and GPUs. It’s here that we learned that AMD’s gaming segment was down 8 percent compared to Q3 of last year.
AMD’s Q3 2023 earnings report was released at the close of markets today. Under the Quarterly Segment Summary section, AMD shares its gaming revenue for the quarter. “Gaming segment revenue was $1.5 billion, down 8% year-over-year, primarily due to a decline in semi-custom revenue, partially offset by an increase in AMD Radeon GPU sales.” The company attributes the decline in revenue to lower semi-custom sales. There is also a statement from AMD’s CFO about how the gaming segment factors into the company’s outlook for the fourth quarter.
“We executed well in the third quarter, delivering year-over-year growth in revenue, gross margin and earnings per share,” said AMD EVP, CFO and Treasurer Jean Hu. “In the fourth quarter, we expect to see strong growth in Data Center and continued momentum in Client, partially offset by lower sales in the Gaming segment and additional softening of demand in the embedded markets.”
Although AMD was able to topple both revenue and EPS expectations shares of the company were initially down after the release of its Q3 2023 earnings report. This is likely because AMD’s revenue guidance for the upcoming quarter came in lower than analysts were expecting. For more financial news as it relates to technology, stay right here on Shacknews.