AMD Reports Third Quarter 2022 Financial Results

  Q3 2022 Q3 2021 Y/Y
Revenue ($M)$5,565 $4,313 Up 29%
Gross profit ($M)$2,776 $2,087 Up 33%
Gross margin % 50% 48%Up 150 bps
Operating expenses ($M)$1,520 $1,035 Up 47%
Operating income ($M)$1,264 $1,055 Up 20%
Operating margin % 23% 24 % Down 1pp
Net income ($M) $ 1,095   $ 893   Up 23%
Earnings per share $ 0.67   $ 0.73   Down 8%

“Third quarter results came in below our expectations due to the softening PC market and substantial inventory reduction actions across the PC supply chain," said AMD Chair and CEO Dr. Lisa Su. "Despite the challenging macro environment, we grew revenue 29% year-over-year driven by increased sales of our data center, embedded and game console products. We are confident that our leadership product portfolio, strong balance sheet, and ongoing growth opportunities in our data center and embedded businesses position us well to navigate the current market dynamics.”

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