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AMD Financial Report; Significant profit growth and an exciting forecast for 2024

AMD in Financial report of the third quarter of 2023 It came in above analysts’ expectations, but gave a weak forecast for the fourth quarter, which weighed on the company’s stock. The red team earned 5.8 billion dollars in the period in question.

AMD expects its revenue to reach $6.1 billion in the final quarter of this year; This is despite the fact that analysts had predicted that this company would announce the number of 6.37 billion dollars.

AMD is one of the few companies in the world with the ability to make powerful artificial intelligence graphics cards. Artificial intelligence market is occupied by Nvidia graphics card, but AMD graphics card is also present in this field. Red Team says its new AI processors MI300A and MI300X will be mass produced in the fourth quarter of 2023.

Following the poor forecast for the final season of 2023, we saw a four percent drop in AMD shares, but it wasn’t long before the stock returned to its previous state; Because this company predicted to earn a lot of revenue from artificial intelligence market next year.

Lisa SueAMD CEO said today at the company’s new financial conference: “We now expect our data center graphics revenue to reach approximately $400 million in the fourth quarter and exceed $2 billion in 2024 as revenue continues to grow over the next year.” had.”

AMD’s net profit reached $299 million in the third quarter of 2023 with a significant growth. The company earned a net profit of $66 million in the third quarter of 2022. AMD’s revenue increased by four percent compared to the third quarter of 2022.

The revenue of AMD’s data center graphics business was 1.6 billion dollars, which did not experience any significant change compared to last year. According to the financial report, AMD processor sales have increased in the server class.

The revenue of AMD’s consumer processors business reached 1.5 billion dollars with an annual growth of 42%. This business unit is heavily influenced by the state of the computer market; The 42% growth in revenue shows that the sales of laptops and desktop computers have increased in the last quarter.

The revenue of AMD’s gaming business in the third quarter of 2023 fell by eight percent and reached $1.5 billion. AMD attributes the drop in sales to the less-than-optimal performance of “semi-custom processors”; This is the term that AMD uses for the processor of game consoles such as PlayStation 5.

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