AMD posts best quarterly income in 7 years with Q2 2018 earnings

AMD looks to be turning things around, with its Q2 earnings report showing the company's best quarter in some time. Overall revenue for the quarter came in at $1.76 billion, which was up 53 percent over the $1.15 billion AMD brought in during the same period a year ago. The most impressive turnaround, however, was with the company's net income, which came in at $116 million for the quarter. That's up from a $42 million loss posted by the company in Q2 2017, and it represents AMD's highest quarterly net income in seven years.

The results are a reflection of AMD's success in several bets that it has placed throughout its product line. A significant portion of this quarter's growth was driven by its Radeon and Ryzen products, which helped power the company's Computing and Graphics segment to $1.09 billion in revenue. That's up 64 percent year-over-year.

AMD is also seeing success in the enterprise, stating that it has seen sales of its Epyc datacenter processor accelerate. In the year since Epyc's launch, HPE, Cisco, and Tencent have all adopted the processor in one form or another for their server and cloud offerings.

Going forward, AMD says it expects to see Q3 revenues rise by about seven percent year-over-year, hitting around $1.7 billion on the back of continued Ryzen and Epyc growth.

This quarter's results are a promising sign for AMD as it continues to do battle against Intel and NVIDIA in both the processor and graphics markets. The company still lags behind its competitors, but it's showing a renewed ability to compete after a rough several years.