AMD beats second-quarter earnings with $6.55 billion in revenue, up 70%

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Advanced Micro Devices announced that its revenue and profit for the second quarter ended June 30 exceeded expectations, with revenue up 70% to $6.55 billion on a GAAP basis.

Non-GAAP net income for the quarter was $1.707 billion, or $1.05 per share, beating expectations of $1.05 per share on revenue of $6.5 billion on a non-GAAP basis. AMD shares are down 3.7% at $95.55 per share after hours trading.

The Santa Clara, Calif.-based company continues to benefit from its highly competitive Zen and Zen 2 architectures for processors, which can generate 50% or more higher performance per clock cycle than the generation former. This architecture put AMD ahead of Intel in performance for the first time in a decade, and helped the perennial No. 2 PC chipmaker become a fast-growing competitor to Intel.

The results are better than what its competitor Intel reports. Over the past two years, Intel has also stumbled on both the chip design and manufacturing side, where it has lost its technological edge to rivals such as TSMC, which makes both processors and processors. graphics chips for AMD. As a result, AMD has achieved historic market share gains over the past three years.

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The HPE Cray Frontier uses AMD Epyc processors.

Interestingly, AMD made these gains amid a historic shortage of chips caused by the pandemic's supply boom and unprecedented demand for electronics goods.

AMD reported quarterly revenue of $6.55 billion, a non-GAAP gross margin of 54%, and a non-GAAP operating margin of 30%. On a GAAP basis, revenue was $6.55 billion, up 70%.

"We achieved our eighth consecutive quarter of record revenue thanks to our strong execution and expanded product portfolio," AMD CEO Lisa Su said in a statement. “Each of our segments experienced significant year-over-year growth, driven by increased sales from our data center...