Superior Micro Units jumps after Q1 outcomes high expectations, boosts steering

Advanced Micro Devices jumps after Q1 results top expectations, boosts guidance - Seeking Alpha

Superior Micro Units (NASDAQ:AMD) shares rose after the semiconductor large posted first-quarter outcomes that beat expectations and raised its full-year steering.

For the interval ending March 26, 2022, the Lisa Su-led AMD (AMD) mentioned it earned $1.13 per share on non-GAAP foundation with income coming in at $5.88 billion, up 71% year-over-year because of its computing and Graphics and Enterprise companies, in addition to the inclusion of Xilinx income.

Excluding its Xilinx acquisition, AMD mentioned it generated $5.32 billion in income.

Main the way in which throughout the quarter was income attributed to its Computing and Graphics phase, which noticed gross sales rise 33% year-over-year to $2.8 billion, because of AMD’s Ryzen and Radeon processors.

Income attributed to its Enterprise, Embedded and Semi-Customized phase got here in at $2.5 billion, up 88% year-over-year and 13% sequentially, because of larger income from its EPYC processor, semi-custom and embedded product gross sales.

Xilinx contributed $559 million in income throughout the quarter, after the deal closed in mid-February.

Wall Avenue analysts had been anticipating the corporate to generate $5.57 billion in income throughout the interval.

On an adjusted foundation, gross margins, a intently watched measure for semiconductor corporations, got here in at 53%, the corporate mentioned.

AMD (AMD) shares rose greater than 4% to $94.92 in after-hours buying and selling.

Santa Clara, California-based AMD (AMD) ended the quarter with $6.5 billion in money and money equivalents and acquired again $1.9 billion in inventory throughout the interval.

For the second-quarter, the Su-led AMD (AMD) mentioned it expects income to be between $6.3 billion and $6.7 billion, in comparison with estimates of $6.03 billion.

As well as, AMD (AMD) additionally raised its full-year steering, saying it now expects to generate $26.3 billion in income, up 60% year-over-year, up from a earlier outlook of 31%. The rise is due partly to the Xilinx acquisition in addition to larger server and semi-customer income.

It additionally expects non-GAAP gross margins to be 54% throughout the 12 months, up from a previous outlook of roughly 51%.

The corporate will maintain a convention name at 5 p.m. EST to debate the outcomes.

Final month, Financial institution of America mentioned Superior Micro Units (AMD) and some different chip corporations ought to profit from the robust cloud outcomes posted by a few of the bigger tech corporations.


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