Advanced Micro Devices Inc. said on Tuesday that its revenue for the fourth quarter of 2023 landed at $6.2 billion, rising 10% from the same period a year earlier and topping estimates. GAAP net income for the last trimester soared 3,076% to $667 million, or $0.41 per share, while GAAP operating income rallied 330% to $342 million. Adjusted net income increased 12% year on year to $1.2 billion, or $0.77 per share.
Full-year 2023 revenues were $22.7 billion, down by 4% compared to the 2022 figure. Operating income amounted to $401 million, falling by 68%, net income decreased by 35% to reach $854 million, while its diluted earnings per share fell 37%, to stand at $0.53.
"We finished 2023 strong, with sequential and year-over-year revenue and earnings growth driven by record quarterly AMD Instinct GPU and EPYC CPU sales and higher AMD Ryzen processor sales," CEO Lisa Su stated. AMD shares rose 0.97% in after-hours trading after the release of the report with the company expecting its revenue to be around $5.4 billion in the first trimester of 2024.
