AMD’s revenue rose last quarter but the forecast for the current quarter is less optimistic
Not all tech companies were hit by the recession last quarter – chipmaker AMD announced about the increase in income. During this period, the company earned $6.55 billion against $6.53 billion expected.
At the same time, in the current quarter, the manufacturer expects income that is lower than expected. According to forecasts, the company will receive $6.7 billion instead of $6.83.
AMD got more opportunities amid the decline in activity of its main competitor Intel, which is going through not the best times. Manufacturer lost profits last quarter and is awaiting support from the US government to complete a new plant in Ohio. As AMD’s chips have proven to outperform Intel’s, the company is considering taking market share from a less successful competitor.
Over the course of the year, AMD’s revenue grew by 70%. All four main segments of the company were successful. Data center sales grew 83% year-over-year to $1.5 billion in revenue. In this segment, the company supplied chips for cloud computing and large enterprises.
Revenue from the client segment, which includes chips for laptops and PCs, rose 25% to $2.2 billion during the quarter. Even though demand for PCs has slowed following a two-year boom caused by the pandemic, the company has made money from laptop processors.
Sales in the gaming segment increased by 32% during the year. Although demand for GPUs for gaming PCs declined, AMD sold well processors for the Playstation 5 and Xbox Series X game consoles. Sales of integrated products, including processors for cars, brought in $1.3 billion.