What happened
Actions of Advanced micro devices (NASDAQ: AMD) It jumped 12.5% to a new closing high of $ 76.09 on Wednesday, following the semiconductor company’s impressive second-quarter results.
And that
AMD’s revenue increased 26% year-over-year to $ 1.93 billion, driven by market share gains and strong sales from its Ryzen and EPYC processors. “We delivered strong second quarter results, led by record sales of notebooks and server processors as Ryzen and EPYC revenues more than doubled from a year ago,” CEO Dr. Lisa Su said in a statement. of press.
Advanced Micro Devices’ shares hit a record high on Wednesday. Image source: Getty Images.
Better yet, sales of Ryzen and EPYC processors generate higher profit margins for AMD than sales of some of its other chips. In turn, AMD’s gross margin improved 3 percentage points year-over-year to 44%.
In total, AMD’s adjusted net and operating income doubled to $ 233 million and $ 216 million, respectively.
Now what
These outstanding results led AMD to boost its year-round financial orientation. The company now forecasts 2020 revenue growth of approximately 32%, driven by broad-based earnings on its personal computer, data center, and gaming products.
“Despite some macroeconomic uncertainty, we are increasing our full-year revenue outlook as we enter our next phase of growth driven by the acceleration of our business in multiple markets,” Su said.
