AMD experiences minor Q2’23 sales bump, guides big

For the second-quarter 2023, AMD reports a mild dip in sales across multiple lines, thanks to inventory burnoff and product refreshes. AMD announced GAAP revenue for the second quarter of 2023 of $5.4 billion, gross margin of 46%, operating loss of $20 million, net income of $27 million, and diluted earnings per share of $0.02. On a year-over-year basis, GAAP revenue was down 18.2%, while net income plunged by 93.9%. On a sequential basis, revenue rose 0.2%, while net income turned positive over the previous quarter’s loss. On a non-GAAP basis, gross margin was 50%, operating income was $1.1 billion,