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Scope LevelMicro
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Last Update2025-08-06
Key Impacts
Negative Impacts (7)
Event Overview
The results highlight a divergence between revenue growth and profitability, raising questions about cost management and investment strategies in a competitive semiconductor market.
Collect Records
AMD Reports Mixed Q2 2024 Results With Strong Revenue but Weaker Earnings
On July 30, 2024, Advanced Micro Devices (AMD) released its financial results for the second quarter of 2024. The company reported revenue that exceeded analyst estimates, while earnings came in below expectations.
According to the official statement, AMD's Q2 revenue reached $5.36 billion, surpassing projections of $5.31 billion. The company's net income for the quarter was $224 million, or $0.14 per share. Adjusted earnings per share were $0.58, lower than the anticipated $0.61 reported by financial analysts.
Lisa Su, AMD Chair and CEO, stated in the release: "We delivered strong revenue growth in our Data Center and Client segments, driven by the ramp of our new AI and server products. While second quarter earnings were below expectations, we are confident in our product roadmap and the accelerating momentum of our AI business."
AMD also provided guidance for the upcoming third quarter of 2024, forecasting revenue of approximately $5.7 billion, which is higher than analyst forecasts. The company attributed this positive outlook to strong demand for its artificial intelligence (AI) chips, especially in the data center segment.
Key data from the Q2 2024 report include:
- Q2 2024 revenue: $5.36 billion
- Net income: $224 million
- Reported earnings per share: $0.14; adjusted earnings per share: $0.58
- Q3 2024 revenue guidance: $5.7 billion
The immediate result of the announcement caused AMD's stock price to fluctuate in after-hours trading. AMD attributed its mixed results to increased costs and investment in new technologies, while highlighting the growing contribution from AI products.