AMD (NASDAQ: AMD) today announced revenue for the third quarter of 2021 of $4.3 billion, operating income of $948 million, net income of $923 million and diluted earnings per share of $0.75. On a non-GAAP* basis, operating income was $1.1 billion, net income was $893 million and diluted earnings per share were $0.73.
“AMD had another record quarter as revenue grew 54% and operating income doubled year-over-year,” said AMD president and CEO Dr. Lisa Su. “3rd Gen EPYC processor shipments ramped significantly in the quarter as our data center sales more than doubled year-over-year. Our business significantly accelerated in 2021, growing faster than the market based on our leadership products and consistent execution.”
Q3 2021 Results
Revenue was $4.3 billion, up 54 percent year-over-year and 12 percent quarter-over-quarter driven by higher revenue in both the Computing and Graphics segment and Enterprise, Embedded and Semi-Custom segment.
Gross margin was 48 percent, up over 400 basis points year-over-year and up 80 basis points quarter-over-quarter. The year-over-year and quarter-over-quarter increases were primarily driven by a richer mix of EPYC™, Ryzen™ and Radeon™ processor sales.
Operating income was $948 million compared to operating income of $449 million a year ago and $831 million in the prior quarter. Non-GAAP operating income was $1.1 billion compared to $525 million a year ago and $924 million in the prior quarter. Operating income improvements were primarily driven by higher revenue.
Net income was $923 million compared to $390 million a year ago and $710 million in the prior quarter. Non-GAAP net income was $893 million compared to $501 million a year ago and $778 million in the prior quarter.
Diluted earnings per share was $0.75 compared to $0.32 a year ago and $0.58 in the prior quarter. Non-GAAP diluted earnings per share was $0.73 compared to $0.41 a year ago and $0.63 in the prior quarter.
Cash, cash equivalents and short-term investments were $3.6 billion at the end of the quarter.
The Company repurchased more than 7 million shares of common stock for $750 million during the quarter.
Cash from operations was $849 million compared to $339 million a year ago and $952 million in the prior quarter. Free cash flow was $764 million compared to $265 million a year ago and $888 million in the prior quarter. Third quarter 2021 cash from operations and free cash flow included strategic investments in long-term supply chain capacity to support future revenue growth.
AMD data center chip sales more than doubled
Posted on Wednesday, Oct 27 2021 @ 22:10 CEST by Thomas De Maesschalck