Intel (INTC) reported Q2 results a few days ago, which were disappointing on both the top and bottom lines. Now it's AMD's turn to report Q2 results. AMD posted its eighth consecutive quarter of growth, topping $6 billion in quarterly revenue for the first time, and doubling its profit.
According to AMD, Q2 revenue was $6.55 billion, up 70% from the second quarter of last year, compared with analyst expectations of $6.53 billion, while gross profit reached $3.538 billion, up 93% year over year, and gross margin increased from 48% to 54%, up 1 percentage point sequentially.
Operating profit reached a record $2 billion, up 24% from a year earlier.
GAAP net income fell 37% to $447 million, but non-GAAP net income jumped 119% to $1.707 billion.
The performance of each department is as follows:
The quarter was dominated by the Enterprise, embedded, and semi-custom division, which posted revenue of $1.257 billion, up 2,228 percent year over year.Operating profit of $641 million, up 10,583% year over year,However, this is mainly a combination of the acquisition of Xilinx results.
The data center division, which includes cpus, data center graphics processing units (Gpus), Pensando and Silings data center products, posted revenue of $1.486 billion, up 83 percent year over year, and operating profit of $472 million, up 131 percent year over year.
Including desktop and laptop PC processors and chipsetsCustomer division revenue was $2.152 billion, up 25 percent year over year,Operating profit was $676 million, up 26% from a year earlier.
The gaming division, which includes standalone Gpus and semi-custom console products, posted revenue of $1.655 billion, up 32% year over year, and operating profit of $187 million, up 7% year over year.
AMD also gave Q3 revenue guidance. The bad news is that growth is going to slow,Revenue is expected to be $6.7 billion, plus or minus $200 million, up about 55% year-over-year and slightly below analyst expectations.
Full-year revenue is expected to be $26.3 billion, plus or minus $300 million, representing 60% year-over-year growth and a gross margin of about 54% for the year.