AMD's third quarter revenue is $5.8 billion, with new AI chips expected to bring in $2 billion in revenue next year

Lei Diwang Lotte November 1st

AMD (NASDAQ: AMD) released its financial report today. According to the financial report, AMD's revenue in the third quarter of 2023 was $5.8 billion, a 4% increase from $5.565 billion in the same period last year and an 8% increase from $5.359 billion in the previous quarter.

AMD's gross profit in the third quarter of 2023 was $27.47, a 17% increase from $2.354 billion in the same period last year and a 12% increase from $2.443 billion in the previous quarter;

AMD's gross profit margin in the third quarter of 2023 was 47%, compared to 42% in the same period last year and 46% in the previous quarter.

AMD's operating profit in the third quarter of 2023 was $224 million, compared to a loss of $64 million in the same period last year; The operating profit under Non GAAP is $1.3 billion.

AMD had a net profit of $300 million in the third quarter of 2023, compared to $66 million in the same period last year and $27 million in the previous quarter.

AMD stated that a new artificial intelligence chip will generate $2 billion in sales next year, which has sparked optimism that demand for this component will offset the decline in video game equipment orders.

AMD stated in a post earnings conference call that the company's MI300 processor will begin shipping in the next few weeks and will compete with Nvidia's products in the artificial intelligence accelerator market. The chip has received a large number of early orders, including orders from large cloud computing customers.

AMD stated that revenue for this quarter will reach $400 million, and revenue for the entire year of 2024 will reach $2 billion. AMD also predicts that it is expected to become AMD's fastest-ever product with sales of $1 billion.

We believe the market is huge, "said AMD CEO Su Zifeng. Our goal is to win, and we believe that the MI300 is an excellent product. I am deeply encouraged by the progress we have made in hardware and software

These prospects help shift attention from AMD's sales forecast, which is lower than many Wall Street expectations. AMD earlier stated that its fourth quarter revenue would be between $5.8 billion and $6.4 billion. Analysts estimate an average of $6.4 billion.

This prediction initially caused AMD's stock price to drop as much as 5.1% in the late trading session, but after making AI remarks on a conference call, AMD almost recovered all of the decline.

As of today's close, AMD's stock price is $98.5 and its market value is $159.1 billion.

Lei Di was founded by media person Lei Jianping. If reprinted, please specify the source.