AMD published its financial results for the third quarter of 2023 – the company records an increase in revenues and profits

A few days ago, Intel published its financial report for the third quarter of 2023. It showed that, compared to the second quarter, Intel could count on higher revenue and net profit in the last three months (Non-GAAP, the profit in the GAAP variant was lower). Another company that announced its financial report is AMD. Previously, the manufacturer confirmed a decline in both revenues and net profit, although the changes were not as large as in the case of Intel. In turn, the third quarter was more optimistic than we expected.

AMD has published its financial report for the third quarter of 2023. The company achieved higher revenue and net profit compared to the results from the previous year and the previous quarter.

Intel has published its financial results for the third quarter of 2023. What is surprising is the low net profit

The company’s total revenue for the third quarter of 2023 was $5.8 billion. This is a slightly better result both quarter-on-quarter (USD 5.359 billion in Q2 2023) and year-on-year (USD 5.565 billion in Q3 2022). When we look at the GAAP results (including, among others, amortization of intangible assets related to previous acquisitions), we will notice an increase in the gross margin year on year by 5 percentage points (from 42% to 47%), while in the case of Non-GAAP results , the gross margin has remained at a similar level for the past year, ranging from 50% (Q2 2023 and Q3 2022) to 51% (Q3 2023). The GAAP variant also shows a much higher net profit, both quarterly (an increase from USD 27 million to USD 299 million) and annually (from USD 66 million to USD 299 million).

AMD published its financial results for the second quarter of 2023; the company is facing a year-on-year decline in profits

In the last quarter, the largest increases in revenue were recorded in the Client department (AMD Ryzen, Ryzen PRO and Ryzen Threadripper PRO processors). In this case, revenue increased from $998 million in the second quarter of this year (or from $1.022 billion in the same period in 2022) to $1.453 billion in the third quarter. Quarterly increases can also be seen in the Data Center department (USD 1.321 billion in Q2 2023 versus USD 1.598 billion in Q3 2023), while the Gaming (graphics cards, APU for consoles) and Embedded departments recorded declines both quarterly and when comparing the last financial period with the same quarter in 2022. In the fourth quarter of 2023, AMD forecasts an increase in revenue to approximately USD 6.1 billion, while maintaining a gross margin of 51.5% (a symbolic increase compared to 51% in the third quarter of 2023).

Source: AMD