Advanced Micro Devices has forecast current-quarter revenue above estimates and raised full-year expectations, based on robust demand for its graphics chips and its new Ryzen processors for PCs.
AMD now expects annual revenue to increase by a mid to high-teens percentage, compared with previous forecasts of low double-digit percentage revenue growth.
The chipmaker also expects Q3 revenue to increase about 23 percent from Q2. Sales in AMD’s unit that makes processors, such as the Polaris chips used in PCs, rose 51.5 percent to US$659 million in Q2.
Total revenue was up 19pc at $1.2 billion, but the company reported a net loss of $16 million in the three months ended July 1, compared with a profit of $69 million a year earlier