AMD beats expectations with Q4 revenue of $4.8B, up 49%
Advanced Micro Devices reported its revenues and earnings for the fourth quarter ended December 31 beat expectations, with revenue growing 49% to $4.8 billion.
Non-GAAP net income for the quarter was $1.1 billion, or 92 cents a share, beating expectations of 76 cents a share on a non-GAAP basis. AMD’s shares are up 8.85% to $127.11 a share in after-hours trading.
The Santa Clara, California-based company has had a good run on momentum behind its Zen and Zen 2 architectures for processors, which can generate 50% or more better performance per clock cycle than the previous generation. This architecture put AMD ahead of Intel in performance for the first time in a decade, and it has helped the perennial No. 2 PC chip maker into a fast-growing contender against Intel.
In the past couple of years, Intel has had stumbles not only on the chip design side but also in manufacturing, where it has lost its technological advantage to rivals such as TSMC, which makes both processors and graphics chips for AMD. As a result, AMD has been making historic market share gains for the past three years. What’s interesting is AMD has been making these gains amid a historic chip shortage driven by the supply whipsaw from the pandemic and unprecedented demand for electronic goods.
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“2021 was an outstanding year for AMD with record annual revenue and profitability,” said AMD CEO Lisa Su, in a statement. “Each of our businesses performed extremely well, with data center revenue doubling year-over-year driven by growing adoption of AMD Epyc processors across cloud and enterprise customers. We expect another year of significant growth in 2022 as we ramp our current
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