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AMD Q1 2023 earnings results beat EPS & revenue expectations

AMD showed an earnings and revenue beat in its most recent earnings report.

Donovan Erskine

May 2, 2023 1:40 PM

AMD

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AMD, the manufacturer behind popular PC and gaming hardware, has shared its earnings results for the Q1 2023, which took place over the first few months of the year. In the report, we see that AMD beat revenue and EPS expectations.

The press release for AMD’s Q1 2023 earnings report was shared on the company’s investor relations website. The report reveals that AMD made $5.4 billion in revenue for the quarter, narrowly beating the Wall Street expectation of $5.3 billion. The company’s earnings per share was $0.60, which beat the $0.56 expectation. AMD CEO Lisa Su provided a quote about the latest quarter in the earnings report.

Following the release of AMD’s Q1 2023 earnings report, the company’s stock fell sharply. It reached as low as $86.12 per share after sitting at $89.91 when the markets closed at 4 p.m. ET. While AMD did beat earnings and revenue expectations, its revenue guidance $5.3 billion for Q2 2023 was below consensus expectations of $5.5 billion, and the stock is reacting negatively as a result.

Still, there appeared to be more positive than negative news for AMD in its Q1 2023 earnings report. We’ll be listening closely to the company’s upcoming earnings call to see if any more information is shared. For all of your financial news as it relates to tech and gaming, stick with Shacknews.

Donovan Erskine

News Editor

Donovan is a young journalist from Maryland, who likes to game. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge Scream nerd and film fanatic that will talk with you about movies and games all day. You can follow him on twitter @Donimals_