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• Revenue of the company grew 71% year-over-year at $5.89 billion
AMD (NASDAQ: AMD) shares rose as much as 8% in extended trading on Tuesday as the semiconductor giant beat quarterly estimates.
Revenue of the company grew 71% year-over-year at $5.89 billion in the first quarter, up from $5.52 billion, according to Refinitiv.
AMD completed the acquisition of the Xilinx Inc (NASDAQ: XLNX) in February in a deal worth approximately $50 billion.
“The first quarter marked a significant inflection point in our journey to scale and transform AMD as we delivered record revenue and closed our strategic acquisition of Xilinx,” said AMD Chair and CEO Dr. Lisa Su.
AMD said its quarterly results included six weeks of revenue from the deal, and also helped increase its revenue in the quarter. Revenue would have only increased 55% year-over-year to $5.3 billion without Xilinx sales, the company said.
AMD’s computing and graphics segment which includes PC sales grew 33% annually while the Embedded, Enterprise, and Semi-custom segment which includes cloud server sales increased 88% to $2.5 billion.
The chipmaker’s earnings per share rose 117% year-over-year at $1.13, compared to $0.91 as expected by analysts. For the current quarter, AMD said it expected $6.5 billion in sales.
“Each of our businesses grew by a significant double digit percentage year-over-year, led by EPYC server processor revenue more than doubling for the third straight quarter. Demand remains strong for our leadership products, with our increased full-year guidance reflecting higher AMD organic growth and the addition of the growing Xilinx business,” said Su.
Picture Credits: CNBC
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