AMD in the II quarter reduced net profit by 1.6 times with record revenue

The American microchip manufacturer Advanced Micro Devices in the second quarter of 2022 reduced its net profit by 1.6 times, but revenue jumped by 70% and became a record eighth quarter in a row.

According to a press release from the company, its net income in the past quarter was $447 million, or $0.27 per share, compared with $710 million, or $0.58 per share, in the same period last year.

Earnings before one-off factors were $1.05 per share compared to $0.63 per share last year.

AMD’s quarterly revenue increased to a record $6.55 billion from $3.85 billion in the same period a year earlier.

Analysts surveyed by FactSet had, on average, expected the company’s adjusted earnings to be $1.03 on revenue of $6.53 billion. The company itself was expecting quarterly revenue in the range of $6.3-6.7 billion.

Revenue of division which, in particular, is engaged in sale of products for data centers and game consoles, increased to $1.49 billion in comparison with $813 million the previous year. Thus, the indicator jumped by 83%.

Hannah Bentley

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