With a 65% drop in sales of AMD processors, the company’s revenue dropped by 9%
AMD’s revenue and profit in the first quarter of this year were better than the initial expectations of analysts, but following the publication of the financial report, the company’s stock value fell by 6%. The red team managed to pocket $5.35 billion in revenue in the first quarter of this year, while analysts were expecting $5.3 billion in revenue.
AMD says it expects revenue of about $5.3 billion in the second quarter of 2023. Wall Street analysts expect revenue of $5.48 billion. the doctor Lisa SueAMD’s CEO, in a statement, says that with the increase in computer and server sales in the second half of 2023, we will see the company’s income grow.
AMD’s net loss in the first quarter of 2023 reached 139 million dollars (equivalent to 9 cents per share). In the same period last year, the Red Team posted a net profit of $786 million (56 cents per share). AMD says part of its financial loss is the result of investments in new areas and costs related to company acquisitions.
as CNBC He writes, AMD’s revenue has decreased by 9% in the first quarter of this year. The company managed to earn $5.89 billion in the first quarter of 2022.
The biggest sales decline was seen in AMD’s consumer products division, the business unit that includes the company’s processors. AMD says the unit in question posted $739 million in sales, representing a 65 percent drop from the first quarter of 2022. At that time, sales of $2.1 billion were recorded.
AMD’s financial report comes as the PC industry’s revenue has experienced a significant decline in recent quarters. In the first quarter of this year, the sale of personal computers decreased by 30%. Intel, AMD’s main competitor in the processor market, said last week that sales of its products fell by 36 percent.
AMD’s CEO says that in the first quarter of 2023, we saw the lowest performance level of the company’s consumer processor business.
AMD data center processor sales grew slightly to $1.295 billion in the first quarter of 2023 from $1.293 billion in the first quarter of 2022. The red team says that we will probably see an increase in data center unit sales this season.
AMD’s gaming business unit, which includes computer graphics processors and chips for consoles such as the PlayStation 5, posted $1.76 billion in revenue. The revenue of this business unit reached 1.88 billion dollars in the first quarter of 2022.