AMD Celebrates Gangbuster First Quarter
Chipmaker AMD, the main rival to Nvidia in graphics and Intel in processors, has raised its revenue forecast following a huge quarter.
AMD raked in $3.45 billion USD ($4.45 billion AUD) in revenue in the January-March quarter, up 93 percent year on year, with $555 million USD ($716 million AUD) net profit, up 243 per cent year-on-year.
The increases were driven by the Computing and Graphics segment, as well as the Enterprise, Embedded and Semi-custom segment, which saw year-on-year increases of 46 per cent and 286 per cent respectively.
Dr Lisa Su, CEO of AMD, hailed the result as stemming from strong execution, robust demand, and “the best product portfolio in [AMD’s] history”.
“We had outstanding year-over-year revenue growth across all of our businesses and data centre revenue more than doubled.
“Our increased full-year guidance highlights the strong growth we expect across our business based on increasing adoption of our high-performance computing products and expanding customer relationships,” she said.
In light of the strong result, AMD has forecast 50 per cent revenue growth in 2021, up from its previous estimate of 37 per cent annual growth. The company believes its second-quarter revenue will be around $3.6 billion USD, or $4.6 billion AUD – an 86 per cent increase from 2020.