AMD closes 2017 in the green and posts fourth-quarter profit of $88 million

AMD's fourth quarter results are just in. In the final quarter of 2017, AMD recorded revenue of $1.48 billion and net income of $61 million. That compares to sales of $1.11 billion and a net loss of $51 million in the year-ago period.

On an adjusted, non-GAAP basis, this comes down to a net income of $88 million, or 8 cents per share. This compares favorable versus analyst estimates, which called for earnings per share of 5 cents on net revenue of $1.41 billion.

For the current quarter, AMD expects revenue to be around $1.55 billion, plus or minus $50 million, which is significantly above the $1.3 billion projected by analysts.

AMD says the results were primarily driven by strong sales of Radeon GPUs and Ryzen processors. Revenue of the Computing and Graphics group was up 60 percent year-over-year and 17 percent sequentially to $958 million, while the Enterprise, Embedded and Semi-Custom segment was down 3 percent year-over-year and down 37 percent sequentially to $522 million due to seasonally lower semi-custom SoC revenue.

For the full year, AMD reports revenue of $5.33 billion and a non-GAAP profit of $179 million, or 17 cents per share. I will cover the conference call tomorrow morning. At present, AMD shares are down 1.24 percent in after-hours trading to $12.72.

AMD (NASDAQ:AMD) today announced revenue for the fourth quarter of 2017 of $1.48 billion, operating income of $82 million and net income of $61 million or diluted earnings per share of $0.06. Non-GAAP operating income was $103 million, non-GAAP net income was $88 million and non-GAAP diluted earnings per share was $0.08.

For fiscal 2017, the Company reported revenue of $5.33 billion, operating income of $204 million and net income of $43 million or diluted earnings per share of $0.04. Non-GAAP operating income was $301 million, non-GAAP net income was $179 million and non-GAAP diluted earnings per share was $0.17.

“2017 marked a key inflection point for AMD as we re-shaped our product portfolio, delivered 25 percent annual revenue growth, expanded gross margin and achieved full-year profitability," said Dr. Lisa Su, AMD president and CEO. "We are even more excited about 2018 as we launch our next wave of high-performance products and continue to position AMD as one of the premier long-term growth companies in the technology industry.”