AMD Finds Its Way Back To Profitability With $48M In Q3
Following Intel's own profitable Q3, AMD is citing a major boom in the semi-custom business as the key proponent for its Q3 net income figure of $48 million. Revenue for the quarter was pegged at $1.46 billion, an increase of 26% sequentially and 15% year-over-year. Operating income was set at $95 million, with net income at $48 million and earnings-per-share at $0.06.
“AMD returned to profitability and generated free cash flow in the third quarter as we continued to successfully execute the strategic transformation plan we outlined a year ago,” said Rory Read, AMD president and CEO. “We achieved 26 percent sequential revenue growth driven by our semi-custom business and remain committed to generating approximately 50 percent of revenue from high-growth markets over the next two years. Developing industry-leading technology remains at our core, and we are in the middle of a multi-year journey to redefine AMD as a leader across a more diverse set of growth markets.”
Best of all, AMD's expecting the growth to continue as the holiday season arrives. It's forecasting a 5% revenue rise in Q4. Who says it's not fun to root for the underdog?