AMD
📈 AMD reported Q1 revenues of $4.0 billion, marking a 36% year-over-year increase, with a net income of $709 million (10% margin) and EPS of $0.44, though revenues fell 3% sequentially.
💻 The Data Center segment revenue grew an impressive 57% year-over-year, although it experienced a 5% sequential decline. Client and Gaming segments also showed annual growth but were less dynamic.
🔮 AMD guided Q2 revenues flat at around $7.4 billion, with non-GAAP gross margins estimated at 43% (or 54% excluding inventory charges), raising questions about its high valuation (98x future P/E vs. a potential 36x).
@bernardodegarcia:
“AMD first quarter results: 4 billion dollars. Gross margins 50, operating 806, net income 709, a 10% margin. Okay. And earnings per share $0.44. … We grew first-quarter revenue by 36% and delivered strong profits as our business gained scale. … Growth of 36% year-over-year. It falls 3% sequentially. Gross profit also, they are 46. Quarter falls, so sequentially it hasn’t been the best result, but annually it has been fantastic growth. Data Center Segment Revenue grows 57%, Client and Gaming 2.9. … We expect revenues for the next quarter: 7-7.4 billion dollars. 7.4 compared to 7.4, so flat. … Gross margins, non-GAAP estimated at 43%, yes? Including 800 million in charges for inventory and reserves for the new export controls. The same as Nvidia, excluding this charge, gross margins would be approximately 54%. Is it good? No. … Data Center revenue year-over-year 57%, quarterly falls 5%. Client and Gaming 28% annual, up 2%. … We could be trading at 36 times future earnings. We are at 98.”
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