Advanced Micro Devices Inc. (AMD) revealed on Tuesday that its revenue in the fourth quarter of fiscal 2024 amounted to $7.7 billion, surging 24% compared to the same period a year before. The company's net income dropped by 28% year-over-year to land at $482 million, while its diluted earnings per share (EPS) stood at $0.29, plunging 29% on an annual basis.
For the full fiscal 2024, revenue amounted to $25.8 billion, rising by 14%. Additionally, net income skyrocketed 92% to $1.6 billion, with diluted EPS soaring 89% to stand at $1.00.
"2024 was a transformative year for AMD as we delivered record annual revenue and strong earnings growth," CEO Lisa Su commented. "Looking into 2025, we see clear opportunities for continued growth based on the strength of our product portfolio and growing demand for high-performance and adaptive computing," she added. AMD's stock fell 3.51% in the after-hours trade, going for $115.30 apiece.
