AMD Q2 2023 Earnings Highlights
[Rewards] AMD leaps on Q2 earnings beat, with increased AI engagements
Claim your Earnings Season offer by winning Rewards Points and discovering Investment Opportunities!
KEY Figures:
● Total 23Q2 revenue of AMD was $5.4 billion, representing a decrease of 18% year-on-year (YoY), but still topped estimates for sales.
● AMD's Non-GAAP gross margin was 50% in Q2 2023, compared with 54% YoY and flat quarter-on-quarter (QoQ).
● Non-GAAP net income was $948 million, representing a decrease of 44% YoY and a decrease of 2% QoQ.
● The adjusted earnings per share (EPS) was $0.58, versus $0.57 expected by Refinitiv consensus estimates.
● “Our AI engagements increased by more than 7 times in this quarter as multiple customers initiated or expanded programs supporting future deployments of Instinct accelerators at scale. " Said the CEO of AMD, Dr. Lisa Su.
● For the Q3 2023 Outlook, AMD expects revenue to be approximately $5.7 billion, plus or minus $300 million, and expects non-GAAP gross margin to be approximately 51%.
● For the Q3 2023 Outlook, AMD expects the Data Center and Client segment revenues to each grow by a double-digit percentage sequentially driven by increasing demand for the EPYC and Ryzen processors, partially offset by Gaming and Embedded segment declines.
More statistics:
The KEY in your hands:
By August 1, 2023, AMD shares had risen more than 81.6% since the beginning of 2023, outpacing the S&P 500 (.SPX), which was up about 19.2% during the same period (Source: moomoo APP).
How do you see AMD currently? What's your opinion or analysis about it? Speak out with mooers and get inspired by sharing!
Rewards:
1) Inspiration Reward: Based on comment originality, quality and engagement, one mooer has the chance to win 600 points! The other two mooers will win 300 points each!
2) Participation Reward: We will provide 60 points for everyone who comments here with relevant posts over 15 words. For sure, any comment is welcome!
*You can exchange abundant gifts at the Rewards Club. Comments before August 17 ET will be counted. The above rewards are mutually exclusive.
Disclaimer
Comments above are made available for informational purposes only. Before investing, please consult a licensed professional. *Source of data: https://news.moomoo.com/notice/149476154# This presentation is for information and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Before investing, please consult a licensed professional. See this link for more information.
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
Read more
Comment
Sign in to post a comment
Moomoo Community Official Account
Trade like a pro.
37KFollowers
80Following
25KVisitors
Follow
70729581 :
727727727 : what an awful day to announce earnings... any other day and the stock would pop (although not as much as I predicted it would). US credit worthiness downgrade will hurt every single stock today.
Gong Xi Fuck Cai ❤ : AMD i always see wrong go buy AMC, then join those monkeys run here and there for nothing. But finally woke up and go buy wrong AMC again. Till now still thought AMD is AMC.
Srikanth Reddy :
SgDavidC : AMD Q2 results may not seems good vs last year, this doesn't mean that it's not doing well. However, I think they will soom overtake Intel and then proceed to go after Nvidia. No one has ever thought that AMD would shine and penetrate Intel's market few years ago which they did. No one thinks that they can compete with NVDA now, but I have strong confident that they can.
Shuseido : At this current price level, I would hold and wait for it to return < 100 before consider to add more.
There are just too many uncertainties in the market right now. Do trade with care and stick to your plans!
ZnWC : AMD Q2 2023 revenue and EPS (earning per share) meet expectation but total revenue decline 18% YoY led by a 54% drop in its Client segment AMD's Personal Computing (PC) business. Gaming segment revenue declined 4%, while its Embedded segment (formerly Xilinx) posted a 16% year-over-year increase in revenue.
The good news is demand for AMD AI chip skyrocketed. AMD's MI300X chip meant to compete directly with Nvidia's H100 remains on track for delivery in Q3. The MI300X GPU is designed to power the supercomputers that train Large Language Models (LLMs) -- the algorithms behind chatbots like ChatGPT.
Personally I think the company's growth potential cannot be ignored. The share may experience temporary price correction due to macroeconomics factors. In the long run, I don't see anything stopping the share price to rally like other AI stocks.
mr_cashcow : AMD a semiconductor technology company definitely have a lot more potential for growth, they just need a right partnership with another game console company. There is so much more they can do!
Asphen : using options to grab at 90 or 95
73407951 SgDavidC: Although AMD has not increased much, it is stable; at least it will not plummet or rise
View more comments...