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2w ago

AMD Beats Q2 Revenue Estimates as Profit Margins and Export Curbs Weigh

Underperformance in data-center sales, an $800 million inventory charge on delayed China GPU exports plus squeezed profit margins fueled a 5% after-hours share decline.

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Overview

  • AMD reported $7.7 billion in Q2 revenue, a 32% increase that exceeded analysts’ forecasts.
  • The company raised Q3 revenue guidance to $8.7 billion, ahead of Wall Street’s $8.3 billion estimate.
  • Non-GAAP EPS fell to $0.48, down roughly 30% year-over-year, and GAAP results included a $134 million operating loss.
  • U.S. export controls halted MI308 GPU shipments to China, triggering an $800 million inventory charge.
  • Shares slid 5% after hours as data-center sales underperformed and Morgan Stanley cut its price target to $168.