AMD Q4 2021 earnings results beat revenue expectations
The CPU and GPU maker enjoyed a solid end to 2021, according to financial documents.
Despite lacking any sizzle from new product launches and continuing issues with the global supply chain caused by the COVID-19 pandemic, AMD still managed to exceed financial analysts' expectations for the final quarter of 2021. The company reported revenue of $4.8 billion and diluted earnings per share of $0.80.
In its Q4 2021 earnings report, AMD says that its revenue was up 49 percent year-over-year and up 12 percent quarter-over-quarter. The semiconductor giant attributed the success to its enterprise CPU and graphics portfolio as well as its semi-custom business (chips for PS5 and Xbox Series S|X).
Diluted earnings per share was $0.80 compared to $1.45 a year ago, which included a $1.06 per share income tax benefit, and $0.75 in the prior quarter. Computing and graphics segment revenue was $2.6 billion, up 32 percent year-over-year and up eight percent quarter-over-quarter. The year-over-year and quarter-over-quarter increases were driven by strong sales of AMD’s Ryzen CPUs and its Radeon RX graphics cards. The company also noted that an increase in the average selling price of its processors contributed to the revenue.
AMD is pretty bullish on its outlook for 2022. The company expects revenue to be approximately $5.0 billion, plus or minus $100 million, an increase of approximately 45 percent year-over-year and approximately four percent quarter-over-quarter. The year-over-year increase is expected to be driven by growth across all businesses.
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Chris Jarrard posted a new article, AMD Q4 2021 earnings results beat revenue expectations