AMD: second quarter 2017, double digit revenue growth

AMD reported second quarter 2017 financial results. Revenue increased 19 percent Year-over-Year, improved financial performance.

AMD NasdaqAMD (NASDAQ:AMD) today announced revenue for the second quarter of 2017 of $1.22 billion, operating income of $25 million, and net loss of $16 million, or $(0.02) per share. On a non-GAAP basis, operating income was $49 million, net income was $19 million, and earnings per share was $0.02.​
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Our second quarter results demonstrate strong growth driven by leadership products and focused execution. Our Ryzen desktop processors, Vega GPUs, and EPYC datacenter products have received tremendous industry recognition. We are very pleased with our improved financial performance, including double digit revenue growth and year-over-year gross margin expansion on the strength of our new products” said Dr. Lisa Su, AMD president and CEO.

AMD Second Quarter 2017 Results

On a GAAP basis, revenue was $1.22 billion, up 19 percent year-over-year, driven by higher revenue in the Computing and Graphics segment. Revenue was up 24 percent sequentially, driven by increased sales in both business segments. Gross margin was 33 percent, up 2 percentage points year-over-year due to a richer product mix and a higher percentage of revenue from the Computing and Graphics segment, driven by the first full quarter of Ryzen processor sales.

On a sequential basis, gross margin declined 1 percentage point due to a higher percentage of revenue from the Enterprise, Embedded and Semi-Custom segment.

Operating income was $25 million compared to an operating loss of $8 million a year ago and an operating loss of $29 million in the prior quarter.

Net loss was $16 million compared to net income of $69 million a year ago and a net loss of $73 million in the prior quarter.

Loss per share was $0.02 compared to diluted earnings per share of $0.08 a year ago (which included a pre-tax gain of $150 million related to our ATMP JV transaction) and a loss per share of $0.08 in the prior quarter.