AMD reported strong Q3 2024 financial results with revenue of $6.8 billion, up 18% YoY, driven by record Data Center segment revenue of $3.5 billion which surged 122% YoY on strong AMD Instinct GPU and EPYC CPU sales. Net income reached $771 million, up 158% YoY, with diluted EPS of $0.47. Gross margin improved to 50% from 47% a year ago.Client segment revenue grew 29% YoY to $1.9 billion on robust Ryzen processor demand, while Gaming revenue declined 69% to $462 million due to lower semi-custom sales. Embedded segment revenue fell 25% to $927 million as customers normalized inventory levels.Looking ahead, AMD expects Q4 2024 revenue of approximately $7.5 billion, representing 22% YoY growth, with non-GAAP gross margin around 54%. The company also announced plans to acquire ZT Systems to expand its data center AI systems capabilities, with the deal expected to close in H1 2025.

AMD reported strong Q3 2024 financial results with revenue of $6.8 billion, up 18% YoY, driven by record Data Center segment revenue of $3.5 billion which surged 122% YoY on strong AMD Instinct GPU and EPYC CPU sales. Net income reached $771 million, up 158% YoY, with diluted EPS of $0.47. Gross margin improved to 50% from 47% a year ago.Client segment revenue grew 29% YoY to $1.9 billion on robust Ryzen processor demand, while Gaming revenue declined 69% to $462 million due to lower semi-custom sales. Embedded segment revenue fell 25% to $927 million as customers normalized inventory levels.Looking ahead, AMD expects Q4 2024 revenue of approximately $7.5 billion, representing 22% YoY growth, with non-GAAP gross margin around 54%. The company also announced plans to acquire ZT Systems to expand its data center AI systems capabilities, with the deal expected to close in H1 2025.