AMD Highest Net Income In Seven Years, AMD stock closes at highest price in over a decade

AMD’s highest quarterly net income in seven years, which also marks its seventh straight quarter of double-digit revenue growth.

The company’s revenue weighed in at $1.76 billion, an increase of 53% year-over-year (YoY) and seven percent over the prior quarter. More importantly, AMD’s net income rose by $35 million to $166 million in Q2, reversing the $42 million in losses the prior year. And AMD 7 nm prospects are gathering investors as introduces a bright future for AMD. Su expects the 7nm EPYC Rome processors to ramp faster than the first-gen models.

AMD CEO: AMD focus is on bringing new products to market

Lisa Su, Advanced Micro Devices CEO, talks with CNBC’s Jon Fortt about the company’s quarterly results, growth strategy and competition with Intel.

AMD CEO: Our focus is about bringing new products to market from CNBC.

The gains will build on a strong growth for AMD, which has seen its share price rise by more than 67 percent since the beginning of the year.

“It’s been a good start to 2018,” Lisa Su, AMD CEO said on CNBC’s Squawk on the Street. She noted the success of their Ryzen line of notebooks and the general strength of the PC market. “I’m very optimistic about what we can do in the notebook business.”

The strong sales come ahead of what Su calls “the big season for notebooks,” including the back-to-school period and the holidays. “We believe that this is a multi-quarter growth story for us.”

AMD CEO Lisa Su stated recently at Computex 2018 that AMD had sold five million Ryzen processors since they were released. AMD’s income from Ryzen processors jumped 64% year-over-year, which isn’t surprising given that Ryzen processors currently hold four of the top five spots on Amazon’s CPU best sellers list. Ryzen processor sales only increased slightly over last quarters’ 60% of AMD’s CPU sales, but AMD forecasts that number to grow as more customers upgrade from older processors over the coming months.

AMD is already shipping 7nm Radeon Instinct Vega GPUs to its partners and expects an official launch this year, which should boost graphics sales. AMD’s 7nm GPUs are designed for artificial intelligence and machine learning workloads. Nvidia’s biggest advantage in the data center stems from its ubiquitous CUDA software, so AMD is focusing on large hyperscale data centers that can adapt to new types of software faster than traditional enterprise customers. AMD hasn’t set a time frame for 7nm GPUs for the desktop, but logic dictates they will come to market next year.

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Mohsen Daemi
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