AMD: Q2 EPS up 19%

(CercleFinance.com) - On Tuesday evening AMD (Advanced Micro Devices) reported Q2 2024 adjusted EPS (non-GAAP) that is up 19% to 69 cents, with an adjusted gross margin up three points to 53%, on revenues that rose 9% to $5.
83bn. NB: pmt +9%.

For Q3 2024, the semiconductor manufacturer expects sales of around $6.7bn (+16% y-o-y), give or take $300m, and expects a non-GAAP gross margin of around 53.5%.

We expect AMD to gain significant market share in GPUs for AI by 2025, with encouraging signs of recovery from customers and CPU servers, HSBC reacts , which maintains its 'buy' recommendation on the stock.


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