AMD reported strong Q3 2024 financial results with revenue increasing 18% year-over-year to $6.8 billion, driven by robust Data Center segment growth. Operating income surged to $724 million from $224 million last year, while net income rose to $771 million from $299 million. Gross margin improved to 50% from 47% in the prior year period, primarily due to higher Data Center revenue.Data Center segment revenue more than doubled to $3.5 billion, up 122% year-over-year, fueled by strong AMD Instinct GPU shipments and EPYC CPU sales growth. Client segment revenue grew 29% to $1.9 billion on strong demand for Ryzen processors. However, Gaming segment revenue declined 69% to $462 million due to lower semi-custom sales, while Embedded revenue fell 25% to $927 million amid ongoing inventory corrections.The company maintained a solid financial...Show More

AMD reported strong Q3 2024 financial results with revenue increasing 18% year-over-year to $6.8 billion, driven by robust Data Center segment growth. Operating income surged to $724 million from $224 million last year, while net income rose to $771 million from $299 million. Gross margin improved to 50% from 47% in the prior year period, primarily due to higher Data Center revenue.Data Center segment revenue more than doubled to $3.5 billion, up 122% year-over-year, fueled by strong AMD Instinct GPU shipments and EPYC CPU sales growth. Client segment revenue grew 29% to $1.9 billion on strong demand for Ryzen processors. However, Gaming segment revenue declined 69% to $462 million due to lower semi-custom sales, while Embedded revenue fell 25% to $927 million amid ongoing inventory corrections.The company maintained a solid financial position with $4.5 billion in cash and investments. During Q3, AMD generated $628 million in operating cash flow and returned $250 million to shareholders through stock repurchases. The company completed its acquisition of Silo AI and announced plans to acquire ZT Systems for approximately $4.9 billion, expected to close in first half of 2025 subject to regulatory approvals.