AMD hits a sales milestone and expects to more hike as the data-centre strategy comes together
Advanced Micro Devices Inc. ( AMD ) reported more than $5 billion in quarterly revenue or 70% of year-over-year revenue for the first time
even without the contribution of the company’s Feb. 14 closing of its Xilinx acquisition.
and AMD executives forecast second-quarter revenue of $6.3 billion to $6.7 billion
and increased their revenue forecast to about $26.3 billion for the year.
Analysts surveyed by FactSet were estimating revenue of $5.14 billion for the second quarter, and $21.48 billion for the year.
Shares rallied as much as 7% after hours, following a 1.4% rise in the regular session to close at $91.13.
AMD Chief Executive Lisa Su said “We made a lot of progress on the safer side and significant investments,”
“We continue to get sort of very good support from our suppliers. That’s one of the reasons we can increase our guidance.”
Regarding COVID-19 shutdowns in China “From our standpoint, we haven’t had any significant impact on our own shipments and our own supply chain,”
With Xilinx in hand, a big change is in store: AMD will finally make data-centre sales more transparent and will begin reporting independently.