Advanced Micro Devices, or AMD, reported third-quarter revenue of $13.38 billion on Nov. 3 U.S. Eastern Time, up 45% from a year earlier, according to Techub, citing CNBC. Adjusted earnings came in at $2.09 per share, above the market expectation of $1.95. Revenue also topped expectations of $13.09 billion.
The company said data center revenue nearly doubled year over year. That segment accounted for 64% of total revenue in the quarter, compared with 47% in the same period last year. AMD shares rose 7% in after-hours trading following the earnings release.
Chief Executive Officer Lisa Su said growth in data center processors is expected to accelerate and that meeting demand will not be a problem. A few days before AMD’s report, Intel said its own data center revenue rose 78% year over year, though its stock fell 29% because of weak guidance.
Advanced Micro Devices, or AMD, released its third-quarter results on Nov. 3 U.S. Eastern Time. The company reported revenue of $13.38 billion, up 45% year over year. Adjusted earnings were $2.09 per share, above the market expectation of $1.95, while revenue also came in ahead of the $13.09 billion consensus estimate.
AMD said data center revenue nearly doubled from a year earlier. The segment made up 64% of total revenue in the quarter, compared with 47% in the same period last year. AMD shares gained 7% in after-hours trading after the results were published.
CEO Lisa Su said growth in data center processors is expected to accelerate and that meeting demand will not be an issue.
A few days before AMD’s earnings release, Intel reported 78% year-over-year growth in data center revenue. Its stock, however, fell 29% on weak guidance. CNBC was cited as the source in the Techub report.
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