Advanced Micro Devices, Inc. Q2 FY2020 Earnings Call

· Earnings call transcript and AI-powered summary

Quarter Overview

  • Revenue: $1.93 billion, up 26% year-over-year and 8% sequentially, driven by strong demand for Ryzen and EPYC processors.
  • Gross Margin: 44%, up 330 basis points year-over-year due to richer client and server processor mix.
  • Operating Income: $233 million, more than double the $111 million in Q2 2019, reflecting strong revenue growth.
  • Net Income: $216 million, up from $92 million a year ago.
  • Diluted EPS: $0.18 versus $0.08 in Q2 2019.

Segment Performance

Computing and Graphics
  • Revenue: $1.37 billion, up 45% year-over-year, driven primarily by Ryzen processor sales.
  • Operating Income: $200 million versus $22 million in Q2 2019.
  • Record notebook processor unit shipments, with Ryzen 4000 revenue doubling year-over-year.
  • Desktop GPU revenue down year-over-year, while mobile GPU saw double‑digit growth.
Enterprise, Embedded, and Semi-Custom (EESC)
  • Revenue: $565 million, down 4% year-over-year due to lower semi-custom sales.
  • Sequential growth of 62%, driven by record server processor sales and higher semi-custom revenue.
  • Initial production and shipments of next-generation console SoCs began for PlayStation 5 and Xbox Series X.

Business and Market Highlights

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Operator: Hello, and welcome to the AMD Second Quarter 2020 Conference Call. [Operator Instructions] A question-and-answer session will follow the formal presentation. As a reminder, this conference is being recorded. It's now my pleasure to turn the call over to Ruth Cotter, Senior Vice President, Marketing, Human Resources and Investor Relations for AMD. Ms. Cotter, please go ahead. Ruth Cotter: Thank you, and welcome to AMD's Second Quarter 2020 Financial Results Conference Call. By now, you should have had the opportunity to review a copy of our earnings release and slides. If you've not reviewed these documents, they can be found on the Investor Relations page of AMD's website, amd.com. Participants on today's conference call are Dr. Lisa Su, our President and Chief Executive Officer; and Devinder Kumar, our Senior Vice President, Chief Financial Officer and Treasurer. This is a live call and will be replayed via webcast on our website. Before we begin today, please note that AMD is scheduled to participate in several Wall Street events during the third quarter. On Tuesday, the 1st of September, Mark Papermaster, Chief Technology Officer and Executive Vice President, Technology and Engineering, will participate in the Jefferies Virtual Semiconductor IT Hardware and Communications Infrastructure Summit. On Tuesday, September 15, Forrest Norrod, Senior Vice President and General Manager, Data Center and Embedded Business Solutions Group, will participate virtually in the D

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