Advanced Micro Devices, Inc. – Common reported second-quarter earnings on Tuesday that beat expectations, but the stock slumped in extended trading after rising during regular trading hours.
Here’s how the chipmaker did versus LSEG consensus estimates for the quarter ended June 27:
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- EPS: $1.66, adjusted, versus $1.62 expected
- Revenue: $11.54 billion versus $11.28 billion expected
Overall, AMD revenue climbed 50% from $7.69 billion a year ago, a sign of the company’s central position in the market for artificial intelligence chips.
AMD’s Data Center unit is what is driving the company’s growth. Data Center sales were $6.7 billion, up 107% on an annual basis, which the company attributed to central processing unit and graphics processing unit sales.
The chipmaker sees $1.4 trillion of that coming from AI accelerators, or GPUs, up from a previous estimate of $500 billion by 2028.
