(AMD) Advanced Micro Devices revenue in the first quarter of 2022 rose by 71% to a record $5.9 billion, with double digit growth in each of its core businesses.
The company said its gross margin improved by two percentage points, while the non-GAAP gross margin increased by 7% from the prior year.
AMD’s operating income was reported at $951 million, with an operating margin of 16%, compared to an operating income of $662 million from the prior year and 19% margin.
The company booked a net income of $786 million, up 42% from the prior year, but down by 19% from the prior quarter. The diluted earnings per share was $0.56, up 24% year-over-year, but down 30% from the prior quarter.
AMD said it ended the quarter with a record $995 million cash from operations, up from $898 million in the prior year and $822 million in the previous quarter.
The company is now projecting revenue of $6.5 billion-plus or minus $200 million in the second quarter.
For FY22, revenue is expected to grow by 60% from 2021 to $26.3 billion, higher than the previously guided increase of 31%. The revenue is expected to be boosted by the addition of Xilinx, as well as server and semi-custom strengths.
AMD’s non-GAAP margin is expected to increase by 54% in 2022, higher than the previously guided gain of 51%.
AMD: NASDAQ is up+5.89% on premarket.
