Advanced Micro Devices, Inc. Q3 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

Overview
  • AMD reported record quarterly results, marking its fifth consecutive quarter of more than 50% year-over-year revenue growth.
  • Q3 2021 revenue reached 4.3 billion dollars, up 54% year-over-year and 12% sequentially.
  • Data center revenue more than doubled year-over-year, becoming a mid-20s percentage of total company revenue.
  • Gross margin expanded to 48%, up 440 basis points from last year.
  • Operating income more than doubled to 1.06 billion dollars; net income rose to 893 million dollars (up 392 million dollars Y/Y).
  • EPS was 0.73 dollars versus 0.41 dollars in Q3 2020.
Segment Highlights
Computing and Graphics
  • Revenue was 2.4 billion dollars, up 44% year-over-year.
  • Growth driven by Ryzen 5000 processors, Radeon GPUs, and AMD Instinct accelerators.
  • Client computing saw strong double-digit year-over-year growth; sequential decline attributed to PC component constraints.
  • Graphics revenue more than doubled year-over-year; sequential growth in double digits.
  • Strong Radeon 6000 demand and ramp of RDNA 2 architecture.
  • Data center GPU revenue more than doubled year-over-year and sequentially, boosted by shipments for the Frontier supercomputer.
Enterprise, Embedded, and Semi-Custom (EESC)

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Operator: Hello, and welcome to the AMD Third Quarter 2021 Earnings Call and Webcast. At this time, all participants are in listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. It's now my pleasure to turn the call over to Laura Graves, Corporate Vice President, Investor Relations. Please go ahead, Laura. Laura Graves: Thank you, and welcome to AMD's Third Quarter 2021 Financial Results Conference Call. By now, you should have had the opportunity to review a copy of our earnings press release and acCompanying slideware. If you have not reviewed these documents yet, they can be found on the Investor Relations page of amd.com. Participants on today's conference call are Dr. Lisa Su, our President and Chief Executive Officer, and Devinder Kumar, our Executive Vice President, Chief Financial Officer, and Treasurer. This is a live call and will be replayed via webcast on our website. Before we begin, I would like to note that we will host our Accelerated Data Center Premier virtually on November 8th, with feature presentations by Dr. Lisa Su and Data Center executives Forrest Norrod and Dan McNamara. This event will also be available on amd.com. Dr. Su will also attend Credit Suisse's 25th Annual Technology Conference on Tuesday, November 30th. Ruth Cotter, Senior Vice President, Worldwide Marketing, Human Resources, and Investor Relations, will attend the Barclays Global Tec

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