Advanced Micro Devices reported first-quarter revenue of $10.25 billion, up 38% year-over-year, beating analyst expectations on Wednesday. Adjusted earnings per share reached $1.37, above forecasts of $1.29, while net income surged to $1.38 billion. AMD shares climbed more than 15% during the session, lifting the company’s market value to approximately $678 billion.
Data center revenue drove the quarter, reaching $5.78 billion, up 57% year-over-year, fueled by demand for EPYC server processors and Instinct AI accelerators. For the second quarter, AMD forecast revenue of about $11.2 billion, representing approximately 46% year-over-year growth and exceeding Wall Street estimates of $10.5 billion.
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