AMD (AMD) PT Lowered to $176 at Citi

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Go back to AMD (AMD) PT Lowered to $176 at Citi

AMD Reports First Quarter 2024 Financial Results

April 30, 2024 4:15 PM EDT

SANTA CLARA, Calif., April 30, 2024 (GLOBE NEWSWIRE) -- AMD (NASDAQ: AMD) today announced revenue for the first quarter of 2024 of $5.5 billion, gross margin of 47%, operating income of $36 million, net income of $123 million and diluted earnings per share of $0.07. On a non-GAAP(*) basis, gross margin was 52%, operating income was $1.1 billion, net income was $1.0 billion and diluted earnings per share was $0.62.

We delivered strong first quarter results with our Data Center and Client segments each growing more than 80% year-over-year driven by the ramp of MI300 AI accelerator shipments and... More