AMD Issues Revenue Outlook; Q2 Computing And Graphics Segment Revenue Up 51%

(RTTNews) - AMD (AMD) announced, for the third quarter of 2017, the company expects revenue to increase approximately 23 percent sequentially, plus or minus 3 percent. The midpoint of guidance would result in third quarter 2017 revenue increasing approximately 15 percent year-over-year. AMD now expects annual revenue to increase by a mid to high-teens percentage, compared to prior guidance of low double digit percentage revenue growth.

On a non-GAAP basis, second-quarter earnings per share was $0.02 compared to a loss per share of $0.05, a year ago. On a GAAP basis, second-quarter revenue was $1.22 billion, up 19 percent year-over-year, driven by higher revenue in the Computing and Graphics segment. Computing and Graphics segment revenue was $659 million, up 51 percent year-over-year, driven by demand for graphics and Ryzen desktop processors.