(Updated - May 3, 2022 4:13 PM EDT)

Advanced Micro Devices, Inc. (NASDAQ: AMD) reported Q1 EPS of $1.13, $0.22 better than the analyst estimate of $0.91. Revenue for the quarter came in at $5.9 billion versus the consensus estimate of $5.52 billion.

GUIDANCE:

Advanced Micro Devices, Inc. sees Q2 2022 revenue of $6.3-$6.7 billion, versus the consensus of $6.38 billion.

• For the second quarter of 2022, AMD expects revenue to be approximately $6.5 billion, plus or minus $200 million, an increase of approximately 69% year-over-year and approximately 10% quarter-over-quarter. The year-over-year increase is expected to be driven by the addition of Xilinx and higher server, semi-custom and client revenue. The quarter-over-quarter increase is expected to be primarily driven by Xilinx and higher server revenue. AMD expects non-GAAP gross margin to be approximately 54% in the second quarter of 2022.

Advanced Micro Devices, Inc. sees FY2022 revenue of $26.3 billion, versus the consensus of $25.15 billion.

• For the full year 2022, AMD now expects revenue to be approximately $26.3 billion, an increase of approximately 60% over 2021, up from prior guidance of approximately 31%, driven by the addition of Xilinx and higher server and semi-custom revenue. AMD expects non-GAAP gross margin to be approximately 54% for 2022, up from prior guidance of approximately 51%.

For earnings history and earnings-related data on Advanced Micro Devices, Inc. (AMD) click here.