AMD’s Q3 2022 results beat EPS expectations
AMD today shared its results for the third quarter of 2022 and included numbers in the report that reflect that the company exceeded previous EPS expectations. Previously, estimates were around $0.49 per share according to sources like Earnings Whispers. In the report, AMD saw shares at $0.67 each.
Revenue for the quarter was $5.6 billion, up 29% year over year (YoY) with a gross margin of 42%. The report notes that this is a decrease of 6 percentage points year-on-year “primarily due to the amortization of intangible assets associated with the acquisition of Xilinx”. Meanwhile, net income came in at $66 million for the quarter with diluted earnings per share at $0.04.
Other highlights of the report include AMD’s Data Center segment revenue of $1.6 billion, up a whopping 45% year-over-year and “driven by strong sales of EPYC server processors “. Operating profit was $505 million (31% of revenue), compared to $308 million (28%) last year.
Additionally, in-vehicle segment revenue was reported at $1.3 billion, up a staggering 1,549% year-over-year, with growth primarily driven by “the inclusion of Xilinx’s in-vehicle product revenue.” Operating profit here was $635 million (49% of revenue) versus $23 million (30%) last year.
For more on AMD’s earnings, be sure to read the full report. Also check out some of our other market coverage, including where you can listen to AMD’s Q3 2022 earnings call, and how Electronic Arts (EA)’s Q2 2023 earnings beat EPS and revenue expectations.