{"id":753943,"date":"2023-05-02T18:10:10","date_gmt":"2023-05-02T22:10:10","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/amd-reports-first-quarter-2023-financial-results\/"},"modified":"2023-05-02T18:10:10","modified_gmt":"2023-05-02T22:10:10","slug":"amd-reports-first-quarter-2023-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/amd-reports-first-quarter-2023-financial-results\/","title":{"rendered":"AMD Reports First Quarter 2023 Financial Results"},"content":{"rendered":"
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SANTA CLARA, Calif., May 02, 2023 (GLOBE NEWSWIRE) — AMD<\/a> (NASDAQ:AMD) today announced revenue for the first quarter of 2023 of $5.4 billion, gross margin of 44%, operating loss of $145 million, net loss of $139 million and diluted loss per share of $0.09. On a non-GAAP(<\/sup>*)<\/sup> basis, gross margin was 50%, operating income was $1.1 billion, net income was $970 million and diluted earnings per share was $0.60.<\/p>\n

\u201cWe executed very well in the first quarter as we delivered better than expected revenue and earnings in a mixed demand environment,\u201d said AMD Chair and CEO Dr. Lisa Su. \u201cWe launched multiple leadership products and made significant progress accelerating our AI roadmap and customer engagements in the quarter. Longer-term, we see significant growth opportunities as we successfully deliver our roadmaps, execute our strategic data center and embedded priorities and accelerate adoption of our AI portfolio.\u201d<\/p>\n

\u201cOur strategically important Data Center and Embedded segments contributed more than 50 percent of revenue in the first quarter,” said AMD EVP, CFO and Treasurer Jean Hu. “For the second quarter we expect sequential growth in our Data Center and Client segments offset by modest declines in our Gaming and Embedded segments. We remain confident in our growth in the second half of the year as the PC and server markets strengthen and our new products ramp.\u201d<\/p>\n

\n GAAP Quarterly Financial Results<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n Q1 2023<\/strong>\n <\/td>\n\n Q1 2022<\/strong>\n <\/td>\n\n Y\/Y<\/strong>\n <\/td>\n<\/tr>\n
Revenue ($M)<\/td>\n$5,353<\/td>\n$5,887<\/td>\nDown 9%<\/td>\n<\/tr>\n
Gross profit ($M)<\/td>\n$2,359<\/td>\n$2,818<\/td>\nDown 16%<\/td>\n<\/tr>\n
Gross margin %<\/td>\n44%<\/td>\n48%<\/td>\nDown 4 ppts<\/td>\n<\/tr>\n
Operating expenses ($M)<\/td>\n$2,514<\/td>\n$1,950<\/td>\nUp 29%<\/td>\n<\/tr>\n
Operating income (loss) ($M)<\/td>\n$(145)<\/td>\n$951<\/td>\nDown 115%<\/td>\n<\/tr>\n
Operating margin %<\/td>\n(3)%<\/td>\n16%<\/td>\nDown 19 ppts<\/td>\n<\/tr>\n
Net income (loss) ($M)<\/td>\n$(139)<\/td>\n$786<\/td>\nDown 118%<\/td>\n<\/tr>\n
Earnings (loss) per share<\/td>\n$(0.09)<\/td>\n$0.56<\/td>\nDown 116%<\/td>\n<\/tr>\n<\/table>\n

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\n Non-GAAP(*) Quarterly Financial Results<\/strong>\n <\/p>\n\n\n\n\n\n\n\n\n\n\n
\u00a0<\/td>\n\n Q1 2023<\/strong>\n <\/td>\n\n Q1 2022<\/strong>\n <\/td>\n\n Y\/Y<\/strong>\n <\/td>\n<\/tr>\n
Revenue ($M)<\/td>\n$5,353<\/td>\n$5,887<\/td>\nDown 9%<\/td>\n<\/tr>\n
Gross profit ($M)<\/td>\n$2,675<\/td>\n$3,100<\/td>\nDown 14%<\/td>\n<\/tr>\n
Gross margin %<\/td>\n50%<\/td>\n53%<\/td>\nDown 3 ppts<\/td>\n<\/tr>\n
Operating expenses ($M)<\/td>\n$1,587<\/td>\n$1,346<\/td>\nUp 18%<\/td>\n<\/tr>\n
Operating income ($M)<\/td>\n$1,098<\/td>\n$1,837<\/td>\nDown 40%<\/td>\n<\/tr>\n
Operating margin %<\/td>\n21%<\/td>\n31%<\/td>\nDown 10 ppts<\/td>\n<\/tr>\n
Net income ($M)<\/td>\n$970<\/td>\n$1,589<\/td>\nDown 39%<\/td>\n<\/tr>\n
Earnings per share<\/td>\n$0.60<\/td>\n$1.13<\/td>\nDown 47%<\/td>\n<\/tr>\n<\/table>\n

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