Advanced Micro Devices (NASDAQ:AMD) reported Q2 2021 earnings after hours on Tuesday, July 27. In today's video I look at fundamentals and recent earnings for AMD, and below I share a few highlights from the video.
- AMD reported 99% year-over-year (YOY) growth in revenue driven by 65% YOY growth in its computing and graphics segment and 183% YOY in its enterprise, embedded, and semi-custom segment for Q2 2021. It also increased its guidance and now expects 60% YOY growth for the entire year of 2021.
- AMD reported that this is its fifth straight quarter of record server processor revenue due to the strong demand for its Epyc processor. Investors could interpret this as a bullish note, as Intel (NASDAQ:INTC) reported a decline in its data center group last week.
- Graphics card demand is still high. Some investors were worried that the overall crackdown on cryptocurrency mining in China would cause a slowdown in graphics card revenue.
*Stock prices used were the closed prices of July 27, 2021. The video was published on July 27, 2021.