AMD recently announced its financial results for the third quarter of the year, and while the revenue has increased 4 percent year-over-year to $1.65 billion, it is a little less than last quarter’s revenue of $1.76 billion and $50 million shy of its revenue target. However, the gross margin increased by 40 percent, which is a big feat for the CPU maker as margins have not been satisfactory over the last few years.
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GPU Sales Take A Hit Because Of The Crypto Mining Slowdown
Operating income grew 26 percent to $150 million, and net income increased 67 percent to $102 million. This translates into earnings per share of 9 cents. AMD attributes its fifth consecutive strong quarter to the popularity of Ryzen, EPYC and data center graphics products. Statistically speaking, the Computing and Graphics revenue was up 12 percent to $938 million. Demand for client and server processors remained strong, but the graphics channel sales took a hit because of decreased crypto mining activity. AMD is likely to be left with a glut of products and this could affect the next quarter negatively.
