AMD revenue rises on Client, Data Center gains

AMD reports a mild gain in client and data center products, offset by weak graphics sales. The company reported third-quarter 2023 GAAP revenue of $5.8 billion, a 4.3% increase YoY and an 8.2% increase sequentially, slightly exceeding analyst forecasts. The company’s gross margin improved to 47%, while GAAP net income reached $299 million, with earnings per share of $0.18. Non-GAAP results showed a gross margin of 51%, net income of $1.1 billion, and diluted earnings per share of $0.70. Strong demand for Ryzen 7000 series PC processors and record server processor sales contributed to AMD’s growth. The gaming/graphics segment saw