AMD reported that its business accelerated in the third quarter as strong demand for our PC, gaming and data center products drove record quarterly revenue
AMD (NASDAQ: AMD) has reported record revenue for the third quarter of 2020 at $2.80 billion. The company’s operating income during the quarter was $449 million, net income $390 million and diluted earnings per share of $0.32. On a non-GAAP basis, its operating income was $525 million, net income was $501 million and diluted earnings per share was $0.41.
“Our business accelerated in the third quarter as strong demand for our PC, gaming and data center products drove record quarterly revenue,” said Dr Lisa Su, AMD president and CEO.
She added, “We reported our fourth straight quarter with greater than 25 percent year-over-year revenue growth, highlighting our significant customer momentum. We are well positioned to continue delivering best-in-class growth as we further extend our leadership product portfolio with the launches of our next generation Ryzen, Radeon and EPYC processors.”
Computing and graphics segment revenue was $1.67 billion
The company’s computing and graphics segment revenue was $1.67 billion, up 31 per cent year-over-year and 22 per cent quarter-over-quarter. Revenue was higher year-over-year driven by a significant increase in Ryzen processor sales partially offset by lower graphics revenue. Revenue, as per the company, was higher quarter-over-quarter driven by a significant increase in Ryzen processor sales and an increase in graphics revenue.
AMD’s enterprise, embedded and semi-custom segment revenue was $1.13 billion, up 116 per cent year-over-year and 101 per cent quarter-over-quarter. Revenue was higher year-over-year and quarter-over-quarter due to higher semi-custom product sales and increased EPYC processor sales.
For the fourth quarter of 2020, AMD expects revenue to be approximately $3 billion, plus or minus $100 million. The figures represent an increase of approximately 41 percent year-over-year and 7 percent sequentially. The company also expects 2020 revenue to grow by approximately 41 per cent compared to 2019, up from prior guidance of 32 per cent.
