Shulou(Shulou.com)11/24 Report--

According to news in the morning of August 2, Beijing time, AMD today released the company's second-quarter results for fiscal year 2023. According to the report, AMD's second-quarter revenue was $5.359 billion, down 18% from $6.55 billion in the same period last year and basically unchanged from $5.353 billion in the previous quarter. Net profit was $27 million, down 94% from $447 million in the same period last year, compared with a net loss of $139 million in the previous quarter, equivalent to an increase of 119% year-on-year Earnings per share were $0.02, down 93% from $0.27 in the same period last year, compared with a loss of $0.09 per share in the previous quarter, equivalent to a year-on-year increase of 122%.

AMD's second-quarter revenue and adjusted earnings per share both beat Wall Street analysts' expectations, pushing its shares up nearly 6 per cent in after-hours trading.

Main results: for the quarter ended July 1, AMD's net profit was $27 million, down 94% from $447 million in the same period last year, compared with a net loss of $139 million in the previous quarter, equivalent to a year-on-year increase of 119% Earnings per share were $0.02, down 93% from $0.27 in the same period last year, compared with a loss of $0.09 per share in the previous quarter, equivalent to a year-on-year increase of 122%.

Excluding certain one-time items (not in accordance with GAAP), AMD's adjusted net income for the second quarter was $948 million, down 44% from $1.707 billion in the same period last year; adjusted earnings per share was 58%, down 45% from adjusted earnings per share of $1.05 in the same period last year, but it was still slightly ahead of analysts' expectations. On average, 31 analysts expected AMD's adjusted earnings per share to reach .57 yuan in the second quarter, according to data provided by Yahoo Finance.

AMD's second-quarter revenue was $5.359 billion, down 18% from $6.55 billion in the same period last year and roughly flat from $5.353 billion in the previous quarter, which also slightly beat analysts' expectations. On average, 30 analysts expect AMD's second-quarter revenue to reach $5.31 billion, according to Yahoo Finance.

AMD's operating expenses were $2.471 billion in the second quarter, down 1 per cent from $2.508 billion in the same period last year and 2 per cent from $2.514 billion in the previous quarter. Of this total, R & D expenditure was $1.443 billion, compared with $1.3 billion in the same period last year and $1.411 billion in the previous quarter, while marketing, general and administrative expenses were $547 million, compared with $592 million in the same period last year and $585 million in the previous quarter.

Excluding some one-time items (not in accordance with GAAP), AMD adjusted operating expenses were $1.605 billion in the second quarter, up 3 per cent from $1.562 billion in the same period last year and 1 per cent from $1.587 billion in the previous quarter.

AMD's second-quarter operating loss was $20 million, compared with a year-on-year operating profit of $526 million, down 104 per cent from a year earlier, compared with an operating loss of $145 million, or 86 per cent year-on-year growth. AMD's operating margin was 0 per cent in the second quarter, down 8 percentage points from 8 per cent in the same period last year and up 3 percentage points from-3 per cent in the previous quarter.

Excluding certain one-time items (not in accordance with US GAAP), AMD's adjusted operating profit in the second quarter was $1.068 billion, down 46 per cent from $1.982 billion in the same period last year and 3 per cent from $1.098 billion in the previous quarter. Excluding some one-time items (not in accordance with US GAAP), AMD's adjusted operating margin was 20 per cent in the second quarter, down 10 percentage points from 30 per cent in the same period last year and 1 percentage point from 21 per cent in the previous quarter.

AMD's second-quarter gross profit was $2.443 billion, down 19 per cent from $3.028 billion in the same period last year and up 4 per cent from $2.359 billion in the previous quarter. AMD's gross margin in the second quarter was 46 per cent, unchanged from 46 per cent in the same period last year and up 2 percentage points from 44 per cent in the previous quarter.

Excluding some one-time items (not in accordance with GAAP), AMD's adjusted gross profit for the second quarter was $2.665 billion, down 25% from $3.538 billion in the same period last year and roughly flat from $2.675 billion in the previous quarter. Excluding some one-time items (not in accordance with US GAAP), AMD's adjusted gross margin was 50 per cent in the second quarter, down 4 percentage points from 54 per cent in the same period last year and unchanged from 50 per cent in the previous quarter.

Division results: AMD's net revenue from the data center division was $1.321 billion in the second quarter, compared with $1.486 billion in the same period last year and $1.295 billion in the previous quarter, and operating profit was $147 million, compared with operating profit of $472 million in the same period last year and $148 million in the previous quarter.

AMD's net revenue from its customer business was $998 million in the second quarter, compared with $2.152 billion in the same period last year and $739 million in the previous quarter, while its operating loss was $69 million, compared with an operating profit of $676 million in the same period last year and an operating loss of $172 million in the previous quarter.

AMD's net revenue from the gaming business was $1.581 billion in the second quarter, compared with $1.655 billion in the same period last year and $1.757 billion in the previous quarter, while operating profit was $225 million, compared with $187 million in the same period last year and $314 million in the previous quarter.

AMD's net revenue from embedded business was $1.459 billion in the second quarter, compared with $1.257 billion in the same period last year and $1.567 billion in the previous quarter. Operating profit was $757 million, compared with $641 million in the same period last year, compared with operating profit of $798 million in the previous quarter.

AMD posted an operating loss of $1.08 billion from all other businesses in the second quarter, compared with an operating loss of $1.45 billion in the same period last year and $1.233 billion in the previous quarter.

Performance outlook: AMD expects revenue in the third quarter of 2023 to reach about $5.7 billion, up and down by $300m, which falls short of Wall Street analysts' expectations; gross profit margins that are not in accordance with GAAP are expected to be around 51 per cent. On average, 29 analysts expect AMD's third-quarter revenue to reach $5.82 billion, according to Yahoo Finance.

Changes in stock prices:

On the day, AMD shares rose $3.20, or 2.8%, to $117.60 in regular Nasdaq trading. AMD shares rose another $6.80, or 5.78 per cent, to $124.40 in after-hours trading as of 04:28 est (04:28 Beijing time on the 2nd). In the past 52 weeks, the highest price for AMD is $132.83 and the lowest price is $54.57.

Welcome to subscribe "Shulou Technology Information " to get latest news, interesting things and hot topics in the IT industry, and controls the hottest and latest Internet news, technology news and IT industry trends.