Press release
AMD Reports Second Quarter 2020 Financial Results
Revenue grows 26 percent year-over-year driven by Ryzen™ and EPYC™ processor sales SANTA CLARA, Calif., July 28, 2020 (GLOBE NEWSWIRE) -- AMD (NASDAQ:AMD)
About this update from Advanced Micro Devices Inc
[{"type":"text","content":"Revenue grows 26 percent year-over-year driven by Ryzen™ and EPYC™ processor sales\nSANTA CLARA, Calif., July 28, 2020 (GLOBE NEWSWIRE) -- AMD (NASDAQ:AMD) today announced revenue for the second quarter of 2020 of $1.93 billion, operating income of $173 million, net income of $157 million and diluted earnings per share of $0.13. On a non-GAAP* basis, operating income was $233 million, net income was $216 million and diluted earnings per share was $0.18.\n GAAP Quarterly Financial Results Q2 2020 Q2 2019 Y/YQ1 2020 Q/QRevenue ($B)$1.93 $1.53 Up 26%$1.79 Up 8%Gross margin44% 41% Up 3pp46% Down 2ppOperating expenses ($M)$675 $562 Up $113$641 Up $34Operating income ($M)$173 $59 Up $114$177 Down $4Net income ($M)$157 $35 Up $122$162 Down $5Earnings per share$0.13 $0.03 Up $0.10$0.14 Down $0.01 Non-GAAP* Quarterly Financial Results Q2 2020Q2 2019Y/YQ1 2020Q/QRevenue ($B)$1.93 $1.53 Up 26%$1.79 Up 8%Gross margin44% 41% Up 3pp46% Down 2ppOperating expenses ($M)$617 $512 Up $105$584 Up $33Operating income ($M)$233 $111 Up $122$236 Down $3Net income ($M)$216 $92 Up $124$222 Down $6Earnings per share$0.18 $0.08 Up $0.10$0.18 Flat “We delivered strong second quarter results, led by record notebook and server processor sales as Ryzen and EPYC revenue more than doubled from a year ago,” said Dr. Lisa Su, AMD president and CEO. “Despite some macroeconomic uncertainty, we are raising our full-year revenue outlook as we enter our next phase of growth driven by the acceleration of our business in multiple markets.” Q2 2020 Results Revenue was $1.93 billion, up 26 percent year-over-year primarily driven by higher Computing and Graphics segment revenue. Revenue was up 8 percent quarter-over-quarter primarily driven by higher Enterprise, Embedded and Semi-Custom segment revenue.Gross margin was 44 percent, up 3 percentage points year-over-year and down 2 percentage points quarter-over-quarter. The year-over-year increase was primarily driven by Ryzen™ and EPYC™ processor sales. The quarter-over-quarter decrease was due to increased semi-custom product sales.Operating income was $173 million compared to operating income of $59 million a year ago and $177 million in the prior quarter. Non-GAAP operating income was $233 million compared to operating income of $111 million a year ago and $236 million in the prior quarter. Operating income improved year-...