AMD’s third-quarter performance for 2024 saw the company achieve record growth, increasing by 18% from the same quarter in the previous year to reach $6.819 billion in revenue. Net income according to GAAP standards stood at $771 million.
Dr. Lisa Su, CEO of AMD, attributed the record-breaking revenue in the quarter to the increased sales of EPYC and Instinct CPUs for data centers, as well as the growing demand for Ryzen PC processors. Looking ahead, AMD anticipates growth across its data center, client, and embedded businesses in response to rising processing demands.
Revenue breakdown by AMD’s business groups is as follows:
– Data Center group revenue: $3.549 billion, a 122% increase driven by growth in Instinct and EPYC sales.
– Client group revenue: $1.881 billion, a 29% increase fueled by higher demand for Ryzen Zen 5 processors.
– Gaming group revenue: $462 million, a 69% decrease due to impacts from reduced revenues of custom semi-conductors.
– Embedded group revenue: $927 million, a 25% decrease from lower orders, but up 8% compared to the previous quarter.
TLDR: AMD reported record growth in Q3 2024, with increased revenue driven by sales of data center and PC processors, despite declines in gaming and embedded segments.
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