Advanced Micro Devices, Inc. Q3 FY2020 Earnings Call

· Earnings call transcript and AI-powered summary

AMD Q3 2020 Earnings Call & Xilinx Acquisition Summary

Quarter Overview

  • Record quarterly revenue of $2.8B, up 56% year-over-year (YoY), driven by strong Ryzen, EPYC, and semi-custom demand.
  • Net income grew to $501M (up 129% YoY). EPS doubled to $0.41 from $0.18 a year ago.
  • Gross margin reached 44%, up 1 percentage point YoY, benefiting from server and client processor mix.
  • Operating income rose to $525M, more than doubling YoY.

Segment Performance

Computing & Graphics
  • Revenue reached $1.67B, up 31% YoY.
  • Record client processor revenue, driven by Ryzen strength and double-digit unit shipment increases.
  • Notebook unit shipments and revenue more than doubled YoY; over 105 AMD-based notebooks launched in 2020.
  • Graphics revenue declined YoY but grew sequentially; strong mobile GPU sales, particularly Radeon PRO 5000M in MacBook Pro.
  • RDNA 2 and Radeon RX 6000 GPUs launching with significant performance uplift.
Enterprise, Embedded & Semi-Custom (EESC)
  • Revenue hit $1.13B, up 116% YoY.
  • Significant semi-custom ramp supporting PlayStation 5 and Xbox Series X|S launches.
  • Record server processor revenue; EPYC sales doubled YoY and grew double-digit sequentially.
  • Expanded cloud deployments: Microsoft Azure, Amazon AWS, Google Cloud all broadening EPYC offerings.

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Operator: Greetings, and welcome to the AMD Third Quarter 2020 and Xilinx Acquisition Conference Call. [Operator Instructions] As a reminder, this conference is being recorded. It's now my pleasure to turn the call over to Ruth Cotter, Senior Vice President, Worldwide Marketing, Human Resources and Investor Relations. Ruth, please go ahead. Ruth Cotter: Thank you, and good morning everyone joining our call today. Participants on our conference call are Dr. Lisa Su, our President and Chief Executive Officer; Devinder Kumar, our Senior Vice President, Chief Financial Officer and Treasurer; and Victor Peng, President and Chief Executive Officer of Xilinx. This is a live call and will be replayed via webcast on our website, amd.com. We have a content-rich call for you this morning, so I refer you to our website, ir.amd.com, for a copy of our third quarter 2020 financial results, including detailed slideware, our acquisition of Xilinx's announcement and other helpful materials, including a presentation outlining the pertinent details of the acquisition. Before we begin, please note that today's discussion contains forward-looking statements based on current beliefs, assumptions and expectations, speak only as of the current date, and as such, involve risks and uncertainties that could cause actual results to differ materially from our current expectations. Please refer to the cautionary statement in each press release for more information on risks related to any forward-looking st

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