• Preli­mi­na­ry third quar­ter reve­nue of appro­xi­m­ate­ly $5.6 bil­li­on, lower than pri­or out­look of $6.7 bil­li­on plus or minus $200 mil­li­on, pri­ma­ri­ly due to wea­k­er Cli­ent seg­ment revenue
• Reve­nue for Data Cen­ter, Gam­ing, and Embedded Seg­ments each grew signi­fi­cant­ly year-over-year and in-line with the company’s expectations
• Manage­ment to dis­cuss finan­cial results and out­look on Nov. 1 ear­nings call

SANTA CLARA, Calif., Oct. 06, 2022 (GLOBE NEWSWIRE) — AMD (NASDAQ:AMD) today announ­ced sel­ec­ted preli­mi­na­ry finan­cial results for the third quar­ter of 2022.

Third quar­ter reve­nue is expec­ted to be appro­xi­m­ate­ly $5.6 bil­li­on, an increase of 29% year-over-year. AMD pre­vious­ly expec­ted reve­nue to increase appro­xi­m­ate­ly 55% year-over-year at the mid-point of gui­dance. Preli­mi­na­ry results reflect lower than expec­ted Cli­ent seg­ment reve­nue resul­ting from redu­ced pro­ces­sor ship­ments due to a wea­k­er than expec­ted PC mar­ket and signi­fi­cant inven­to­ry cor­rec­tion actions across the PC sup­p­ly chain.

Reve­nue for the Data Cen­ter, Gam­ing, and Embedded seg­ments each increased signi­fi­cant­ly year-over-year in-line with the company’s expectations.

Gross mar­gin is expec­ted to be appro­xi­m­ate­ly 42% and non-GAAP^(*) gross mar­gin is expec­ted to be appro­xi­m­ate­ly 50%. AMD pre­vious­ly expec­ted non-GAAP gross mar­gin to be appro­xi­m­ate­ly 54%. The gross mar­gin short­fall to expec­ta­ti­ons was pri­ma­ri­ly due to lower reve­nue dri­ven by lower Cli­ent pro­ces­sor unit ship­ments and avera­ge sel­ling pri­ce (ASP). In addi­ti­on, the third quar­ter results are expec­ted to include appro­xi­m­ate­ly $160 mil­li­on of char­ges pri­ma­ri­ly for inven­to­ry, pri­cing, and rela­ted reser­ves in the gra­phics and cli­ent busi­nesses. (…) Wei­ter­le­sen »