Promotions Advanced microdevices (NASDAQ: AMD) The semiconductor company jumped 12.5% to close at a new $ 76.09 on Wednesday after impressive second-quarter results.
AMD’s revenue rose 26% year-on-year to $ 1.93 billion, driven by increased market share and strong sales of Ryzen and EPYC processors. “We delivered strong second-quarter results driven by record sales of laptops and server processors as Ryzen and EPYC revenues more than doubled from a year ago,” CEO Dr. said in a press release. Lisa Su.
Even better, sales of Ryzen and EPYC processors generate higher profit margins for AMD than sales of some of its other chips. In turn, AMD’s gross profit rose 3 percentage points year-on-year to 44%.
Overall, AMD’s adjusted operating and net income more than doubled to 233 and 216 million, respectively.
These excellent results led AMD to strengthen its financial guidelines for the full year. The company now predicts that by 2020. Revenue will grow by about 32%. This results in large-scale profits from personal computer, data center and gaming products.
“Despite some macroeconomic uncertainty, we are increasing our full-year revenue outlook as we embark on the next phase of growth driven by the acceleration of our business in several markets,” Su said.