Summary by Moomoo AI
Advanced Micro Devices (AMD) reported a net revenue of $22.7 billion for the year 2023, marking a 4% decrease from the previous year's $23.6 billion. The decline was attributed to a 25% drop in Client segment revenue due to lower processor sales and a 9% decrease in Gaming segment revenue, primarily from reduced semi-custom product sales. However, this was partially offset by a 17% increase in Embedded segment revenue, largely from the full-year inclusion of Xilinx product revenue, and a 7% rise in Data Center segment revenue, driven by higher sales of AMD Instinct GPUs and 4th Gen AMD EPYC CPUs. Gross margin improved slightly to 46% in 2023 from 45% in 2022, while operating income fell to $401 million from $1.3 billion in the prior year, mainly due to lower Client...Show More