AMD sees Q3 revenue $6.4B-$7.0B, consensus $6.61B

The company said, “For the third quarter of 2024, AMD expects revenue to be approximately $6.7B, plus or minus $300M. At the mid-point of the revenue range, this represents year-over-year growth of approximately 16% and sequential growth of approximately 15%. Non-GAAP gross margin is expected to be approximately 53.5%.” “AMD executed well in the second quarter, with revenue above the midpoint of our guidance driven by strong growth in the Data Center and Client segments. In addition, we expanded gross margin and delivered solid earnings growth, while increasing our strategic AI investments to build the foundation for future growth,” said AMD EVP, CFO and Treasurer Jean Hu.