AMD forecasts strong revenue output for 2022 with revenue for the full year pegged at $26.3 billion, up about 60%. The revenue projection is ahead of analysts’ estimates of $25.145 trillion.
Advanced Micro Devices (AMD) is banking on its data center boom which it says will boost demand for its chips thereby adding a positive outlook to its revenue.
AMD recorded $5.89 billion in revenue above analysts’ average estimate of $5.52 billion. The company earned $1.13 per share during the quarter compared to Wall Street estimates of 91 cents per share.
For the current quarter, the company expects revenue of about $6.5 billion, plus or minus $200 million. This is above analysts’ expected revenue of $6.38 billion.
“Each of our businesses grew by a significant double-digit percentage year-over-year, led by EPYC server processor revenue more than doubling for the third straight quarter. Our focus remains on the premium, gaming, and commercial portions of the market where we see strong growth opportunities and expect to continue gaining overall client revenue share,” said AMD chief executive Lisa Su.