Advanced Micro Devices, Inc. Q4 FY2023 Earnings Call

· Earnings call transcript and AI-powered summary

Overall Performance

  • Q4 revenue: $6.2B, up 10% year-over-year (YoY), up 6% sequentially.
  • Full-year revenue: $22.7B, down 4% YoY due to weak Client and Gaming segments despite record Data Center and Embedded revenue.
  • Q4 gross margin: 51%, flat YoY.
  • Q4 EPS: $0.77, up 12% YoY.
  • Strong acceleration in Data Center revenue driven by EPYC CPUs and MI300 GPU ramp.

Segment Performance

Data Center

  • Q4 revenue: $2.3B, up 38% YoY and 43% sequentially (record levels).
  • Drivers: Strong double-digit EPYC CPU growth; MI300 GPU revenue exceeded expectations, surpassing $400M in Q4.
  • Cloud adoption: 55+ new AMD-powered cloud instances launched in Q4 by AWS, Google, Microsoft, Oracle, and Alibaba.
  • Enterprise momentum: Significant double-digit growth; strong traction in Fortune 2000 verticals.
  • 2024 outlook: Data Center GPU revenue now expected to exceed $3.5B (raised from $2B); sequential growth expected every quarter with heavier weighting in 2H.
  • Server CPU market: Still mixed environment but AMD expects share gains in 2024 driven by Genoa, Bergamo, Siena, and upcoming Turin (Zen 5) chips.

Client

  • Q4 revenue: $1.5B, up 62% YoY, flat sequentially.
  • Drivers: Strong Ryzen 7000 sales and launch of Ryzen 8000 series with upgraded AI NPUs.

Continue Reading

Unlock the full AI-powered summary with key highlights, financial performance, and analyst Q&A.

Upgrade to Professional
Operator: Greetings and welcome to the AMD Fourth Quarter and Full Year 2023 Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] And as a reminder, this conference is being recorded. It is now my pleasure to introduce to you, Mitch Haws, Vice President, Investor Relations. Thank you, Mitch. You may begin. Mitch Haws: Thank you, John, and welcome to AMD's Fourth Quarter and Full Year 2023 Financial Results Conference Call. By now you should have had the opportunity to review a copy of our earnings press release and the accompanying slides. If you've not had the chance to review these materials, they can be found on the Investor Relations page of amd.com. We will refer primarily to non-GAAP financial measures during today's call. The full non-GAAP to GAAP reconciliations are available in today's press release and the slides posted on our website. Participants on today's call are Dr. Lisa Su, our Chair and Chief Executive Officer; and Jean Hu, 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 Mark Papermaster, Executive Vice President and Chief Technology Officer will attend the Bernstein Tech, Media, Telecom & Consumer One-on-One Forum on Tuesday, February 28th; and Jean Hu, Executive Vice President, Chief Financial Officer and Tre

Continue Reading

Unlock the full earnings call transcript with speaker labels and formatted dialogue.

Upgrade to Professional