AMD's 2023 Revenue Hits $22.7 Billion with 20% Growth Expected in 2024
2024-02-02
The AMD Q4 2023 Earnings Call took place on January 30, 2024, and was attended by Dr. Lisa Su, the chair and CEO of AMD, and Jean Hu, the executive vice president, CFO, and treasurer of AMD. During the call, they discussed various topics related to the company's performance and future prospects, focusing on the financial results for the full year of 2023 and the outlook for 2024.
In terms of financial results, AMD reported that its revenue for the full year of 2023 reached $22.7 billion, with earnings per share of $2.65. The company experienced year-over-year revenue growth in the Embedded and Data Center segments, while the Gaming segment saw a significant double-digit decline. The strong fourth-quarter performance in 2023 was primarily driven by growth in the Data Center segment, particularly in server CPU and Data Center GPU sales, as well as strong demand in the channel for Gaming Graphics.
Looking ahead to 2024, AMD expects the company to grow by 20%. The Data Center segment, specifically the server side and the Data Center GPU side, is expected to contribute the most to the incremental revenue opportunities. However, the Gaming segment is projected to decline by a significant double-digit percentage. AMD also highlighted the opportunities in the traditional server business, expressing confidence in gaining market share with their strong product portfolio.
During the call, AMD also discussed specific products and technologies. They provided updates on the progress of their MI300 accelerator, which offers a performance per dollar benefit and boasts greater bandwidth and memory capacity compared to competitors. The company expects the MI300 to reach a run-rate of $1.5 billion by the end of the year. Additionally, AMD highlighted the advancements made in their ROCm software suite, which has expanded the ecosystem of AI developers working on AMD platforms.
Overall, the AMD Q4 2023 Earnings Call provided valuable insights into the company's financial performance, product portfolio, and future prospects. The discussions covered important topics such as revenue growth, market opportunities, competitive landscape, and technological advancements, offering investors and stakeholders a comprehensive overview of AMD's business.