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AMD reports $1.5 billion of Q3 2023 Gaming Segment revenue, down 8% from Q3 2022

Gaming revenue was down for AMD despite a growth in overall revenue.

October 31, 2023 2:18 PM

AMD has released its earnings report for Q3 2023, showing a beat for both revenue and earnings-per-share. The report also included some insight about AMD’s gaming division, as the company is a leading brand in processors and GPUs. It’s here that we learned that AMD’s gaming segment was down 8 percent compared to Q3 of last year.

AMD’s Q3 2023 earnings report was released at the close of markets today. Under the Quarterly Segment Summary section, AMD shares its gaming revenue for the quarter. “Gaming segment revenue was $1.5 billion, down 8% year-over-year, primarily due to a decline in semi-custom revenue, partially offset by an increase in AMD Radeon GPU sales.” The company attributes the decline in revenue to lower semi-custom sales. There is also a statement from AMD’s CFO about how the gaming segment factors into the company’s outlook for the fourth quarter.

AMD CEO Lisa Su says there is still strong demand for Xbox and PlayStation consoles despite the dip in Q3 2023 Gaming Segment revenue. #AMD $AMD @LisaSu pic.twitter.com/HiGwjqzvLd
— Shacknews (@shacknews) October 31, 2023

“We executed well in the third quarter, delivering year-over-year growth in revenue, gross margin and earnings per share,” said AMD EVP, CFO and Treasurer Jean Hu. “In the fourth quarter, we expect to see strong growth in Data Center and continued momentum in Client, partially offset by lower sales in the Gaming segment and additional softening of demand in the embedded markets.”

Although AMD was able to topple both revenue and EPS expectations shares of the company were initially down after the release of its Q3 2023 earnings report. This is likely because AMD’s revenue guidance for the upcoming quarter came in lower than analysts were expecting. For more financial news as it relates to technology, stay right here on 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_

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