Advanced Micro Devices Lowers FY22 Revenue Outlook

(RTTNews) - While reporting its results for the third quarter on Tuesday, Advanced Micro Devices, Inc. (AMD) lowered its revenue outlook for the full year 2022.

For the full year 2022, AMD now expects revenue to be approximately $23.5 billion, plus or minus $300 million, an increase of approximately 43% over 2021.

Analysts polled by Thomson Reuters currently estimate revenues of $23.88 billion for the quarter.

Previously, the company expected revenues to be about $26.3 billion, plus or minus $300 million, an increase of approximately 60% over 2021.

AMD now expects adjusted gross margin to be about 52% for 2022, down from prior estimate of about 54%.