Its second-quarter revenue of $1.93bn topped analysts’ expectations by $70 million, indicating an upside of 26% from the past year period. The sharp revenue growth from computing and graphics segments helped in generating massive revenue growth. Its computing and graphics segments revenue surged 45% year over year. The company expects third-quarter revenue in the range of $2.45-2.65B, up close to 45% from the year-earlier, and representing a growth of 32% from the previous quarter, thanks to revenue expectations from Ryzen and Epyc processor sales. The company also claims that its semi-Custom revenue is likely to benefit from the next-gen game consoles. It expects full-year revenue to jump 32% compared to 2019. The company was previously expecting full-year revenue growth in the range of 20-30%. The PC, gaming, and data center products are likely to benefit from improving demand. Bank of America has provided a price target of $100 after the solid quarterly performance. The firm praised AMD’s solid pipeline, consistent execution and, expanding market opportunity. The firm has raised AMD’s CY20/21/22E EPS estimates by 6%, 11%, and 17%, respectively. It expects AMD to post $2B in revenue by CY22E and earnings per share is likely to $3 by CY23E.
