Published , by Donovan Erskine
Published , by Donovan Erskine
It’s AMD’s turn to share its latest round of earnings, as the company detailed its financial performance over the previous period in its Q1 2022 earnings report. In the report, we see that AMD managed to beat expectations for both revenue and earnings-per-share, while posting record numbers for the former.
AMD released its Q1 2022 earnings report on May 3, 2022. It’s here that the company announces it posted a record revenue of $5.9 billion for the quarter, beating the $5.52 billion expectation. AMD also reeled in $1.13 in EPS against an expectation of $.90.
“The first quarter marked a significant inflection point in our journey to scale and transform AMD as we delivered record revenue and closed our strategic acquisition of Xilinx,” said AMD Chair and CEO Dr. Lisa Su. “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. Demand remains strong for our leadership products, with our increased full-year guidance reflecting higher AMD organic growth and the addition of the growing Xilinx business.”
AMD stock leaped in after-hours trading following the release of the earnings report. The stock climbed as high as $94.97 after sitting at $89.56 earlier this morning. The upcoming earnings call for Q1 could also have an impact on the performance of the stock as the day continues.
The foreseeable future is also looking quite bright for AMD, as the company raised its full year guidance along with its Q1 2022 earnings report. For more news out of AMD as well as the other major businesses in the video game and technology industries, stick with us here on Shacknews.