Loss gave way to profit
AMD reported for the first quarter of the 2024 fiscal year.
During the reporting period, AMD earned $5.47 million, which is 2% more than a year ago. At the same time, losses gave way to profits. Operating profit amounted to $36 million, while a year earlier there was a loss of 145 million. And a net loss of 139 million a year ago was replaced by a profit of 123 million.
AMD noted record revenue in the data center products segment — $2.3 billion, which is close to 50% of total revenue, which is a consequence of the market's heavy emphasis on AI. The company says the Instinct MI300 accelerators have become the fastest-growing product in AMD's history, surpassing $1 billion in sales in less than two quarters.
However, sales of client products increased by 85%, mainly due to excellent sales of the latest Ryzen 8000. But the gaming segment suffered greatly. Sales nearly halved to $922 million due to lower revenue from semi-custom products and lower sales of Radeon graphics processors.