AMD Q4 2022 earnings results beat EPS and revenue expectations
AMD is doing better than expected even with a lower revenue coming in from the company's gaming sector.
AMD has released its quarterly earnings for Q4 2022. On Tuesday, the company reported $5.6 billion in revenue, a total that's up 16 percent year-over-year, and an EPS of $0.69 per share. That takes into account some substantial operating losses and a lower gaming revenue.
The AMD Q4 2022 quarterly earnings report released on Tuesday afternoon. The company is weathering the storm of lighter PC demand and a falling gaming graphics sales.
"2022 was a strong year for AMD as we delivered best-in-class growth and record revenue despite the weak PC environment in the second half of the year," AMD Chair and CEO Dr. Lisa Su said in today's earnings report. "We accelerated our data center momentum and closed our strategic acquisition of Xilinx, significantly diversifying our business and strengthening our financial model. Although the demand environment is mixed, we are confident in our ability to gain market share in 2023 and deliver long-term growth based on our differentiated product portfolio."
With AMD beating out expectations, the stock responded positively. It was up 3.73 percent at the end of trading and continues to rise in after hours. AMD's future will hinge heavily on the company's next batch of CPUs. Among the reveals at CES 2023 earlier this month were the latest in the Ryzen 7000 series, which will allow for greater cache memory and better overall performance.
We expect more information on AMD's Q4 2022 earnings and its projections for the forthcoming quarters during Tuesday's earnings call. We'll have that over on the Shacknews Twitch channel. Tune in for the latest and come back to Shacknews for any major updates.
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