AMD Jumps 7% After Q3 Revenue Hits $13.38 Billion as Data Center Sales Nearly Double
Updated
Updated · CNBC · Nov 3
AMD Jumps 7% After Q3 Revenue Hits $13.38 Billion as Data Center Sales Nearly Double
3 articles · Updated · CNBC · Nov 3
Summary
AMD rose 7% in extended trading after posting adjusted EPS of $2.09 on $13.38 billion in third-quarter revenue, beating LSEG estimates of $1.95 and $13.09 billion.
45% revenue growth was driven mainly by data center sales, which nearly doubled and grew to 64% of total revenue from 47% a year earlier.
AMD forecast about $17 billion in fourth-quarter revenue, topping the $16.2 billion analyst consensus, while guiding gross margin to 55%, just below the 55.3% StreetAccount estimate.
Weakness persisted outside AI infrastructure: revenue in AMD's client-and-gaming segment fell 8% to $3.7 billion, with gaming revenue down 40% amid a soft PC market.
The results strengthen AMD's case as a broader AI challenger to Nvidia and contrast with Intel, whose shares sank last week despite strong data center growth because of weak guidance and demand concerns.