1/31, 10:17 PM (Source: TeleTrader)
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AMD Q4 revenue rises 16% to $5.6 billion

Advanced Micro Devices Inc. announced Tuesday that its revenue rose by 16% to $5.6 billion for the fourth quarter of last year, while for 2022, the figure increased by 44% to $23.6 billion.

According to the report, net income for the same quarter came in at $21 million, lower than the same quarter a year earlier by 98%. The same trend was observed annually as the firm reported that net income for 2022 plunged by 58% to $1.3 billion. Meanwhile, earnings per share fell by 99% to $0.01 for the fourth quarter 2022 and decreased by 67% to $0.84 for the entire year.

"Although the demand environment is mixed, we are confident in our ability to gain market share in 2023 and deliver long-term growth based on our differentiated product portfolio," said AMD Chair and CEO Dr. Lisa Su. Following the release, at 4:30 pm ET, AMD shares were up 3.46% to sell for $77.88.

Baha Breaking News (BBN) / JG