Advanced Micro Devices Q2 2024 Earnings Summary $AMD
In the latest episode, we dive into Advanced Micro Devices' impressive Q2 2024 earnings report, where the company surpassed expectations with a revenue of $5.8 billion, marking a 9% year-over-year increase. CEO Lisa Su emphasized robust demand for their Instinct, Ryzen, and EPYC processors, particularly in the data center segment, which soared 115% to a record $2.8 billion. Highlighting successful partnerships with major firms like Netflix and Uber, Su reinforced the growing trust in AMD's technology amidst strong cloud adoption. CFO Jean Hu reported a significant improvement in gross margin, underscoring the data center's positive trajectory. Looking ahead, AMD is set to launch the new Turin family of processors, poised to enhance competitiveness in the server market. With record GPU revenue from their MI300 and a strong AI strategy, AMD is gearing up for remarkable growth and positioning itself to thrive in the evolving tech landscape. Tune in for insights on AMD's ambitious plans and what they mean for investors.
