AMD Reports 20 Percent Increase in Revenues

Advanced Micro Devices (NASDAQ:AMD), high-performance computing company focused on the gaming industry announced a 20 percent uptick in revenues since the first quarter in its most recent earnings report. The company posted a total US$1.53 billion in revenue and US$59 million in operating income, a decline from US$153 million a year ago.

As quoted in the press release:

Q2 2019 Results

• Revenue was $1.53 billion, down 13 percent year-over-year due to lower revenue in both segments. Revenue was up 20 percent quarter-over-quarter due to higher revenue in both segments.

• Gross margin was 41 percent, up 4 percentage points year-over-year, primarily driven by increased Ryzen^TM and EPYC^TMprocessor sales. Gross margin was flat quarter-over-quarter.

• Operating income was $59 million compared to $153 million a year ago and $38 million in the prior quarter. Non-GAAP operating income was $111 million compared to $186 million a year ago and $84 million in the prior quarter. The year-over-year decline was primarily due to lower revenue and higher operating expenses.

• Net income was $35 million compared to $116 million a year ago and $16 million in the prior quarter. Non-GAAP net income was $92 million compared to $156 million a year ago and $62 million in the prior quarter.

• Diluted earnings per share was $0.03, compared to $0.11 a year ago and $0.01 in the prior quarter. Non-GAAP diluted earnings per share was $0.08, compared to $0.14 a year ago and $0.06 in the prior quarter.

• Cash, cash equivalents and marketable securities were $1.1 billion at the end of the quarter.

Click here to read the full press release.