What you need to know
- AMD reported $4.3 billion in revenue during Q3 2021.
- The company saw an operating income of $948 million during the quarter.
- AMD set several records, including Q3 2021 bringing in the most revenue in any single quarter for the company.
"AMD had another record quarter as revenue grew 54% and operating income doubled year-over-year," said AMD president and CEO Dr. Lisa Su. "3rd Gen EPYC processor shipments ramped significantly in the quarter as our data center sales more than doubled year-over-year. Our business significantly accelerated in 2021, growing faster than the market based on our leadership products and consistent execution."
Here's a breakdown of AMD's financial results:
| Metric | Q3 2021 | Q3 2020 | Y/Y | Q2 2021 | Q/Q |
|---|---|---|---|---|---|
| Revenue ($M) | $4,313 | $2,801 | Up 54% | $3,850 | Up 12% |
| Gross profit ($M) | $2,086 | $1,230 | Up 70% | $1,830 | Up 14% |
| Gross margin % | 48% | 44% | Up 450 bps | 48% | Up 80 bps |
| Operating expenses ($M) | $1,141 | $781 | Up 46% | $1,000 | Up 14% |
| Operating income ($M) | $948 | $449 | Up 111% | $831 | Up 14% |
| Operating margin % | 22% | 16% | Up 6pp | 22% | Flat |
| Net income ($M) | $923 | $390 | Up 137% | $710 | Up 30% |
| Earnings per share | $0.75 | $0.32 | Up 134% | $0.58 | Up 29% |
Profitability grew at a higher rate than revenue for AMD. The company saw a net income of $923 million, which is a 137% increase over the same quarter in 2020.
AMD's Computing and Graphics sector brought in $2.4 billion in revenue in the quarter. That area includes desktop and notebook CPU sales and GPU sales. That marks a 44% increase over Q2 2021. The segment's operating income went up as well from $384 million to $513 million year-over-year.
Here are AMD's figures for the Computing and Graphics segment:
| Metric | Q3 2021 | Q3 2020 | Q2 2021 |
|---|---|---|---|
| Revenue ($M) | $2,398 | $1,667 | $2,250 |
| Operating income ($M) | $513 | $384 | $526 |
The Enterprise, Embedded, and Semi-Custom segment of AMD also saw growth:
| Metric | Q3 2021 | Q3 2020 | Q2 2021 |
|---|---|---|---|
| Revenue ($M) | $1,915 | $1,134 | $1,600 |
| Operating income ($M) | $542 | $141 | $398 |
Q3 2021 is the sixth straight quarter of record server processor revenue for AMD.
