Chipmaker Advanced Micro Devices, Inc. (NASDAQ: AMD) on Tuesday announced financial results for the second quarter of 2022, reporting a 70% growth in revenues.
Adjusted earnings rose to $1.05 per share in the most recent quarter from $0.63 per share in the second quarter of 2021, and came in above the consensus forecast. Net income was $447 million or $0.27 per share, compared to $710 million or $0.58 per share in the prior-year period.
Check this space to read management/analysts’ comments on AMD’s Q2 2022 results
Second-quarter revenues climbed to $6.55 billion from $3.85 billion in the corresponding period of last year. The top line also exceeded Wall Street’s prediction.
“Each of our segments grew significantly year-over-year, led by higher sales of our data center and embedded products. We see continued growth in the back half of the year highlighted by our next generation 5nm product shipments and supported by our diversified business model,” said AMD’s CEO Lisa Su.
(this story will be updated shortly)
The post AMD Earnings: Advanced Micro Devices Q2 profit rises; revenue up 70% first appeared on AlphaStreet.