AMD’s Q1’23 financial results

AMD released its Q1’23 financials, reporting a mild loss due to onetime charges and weakness in its Client business. Enterprise and Data Center businesses were the star of the quarter. AMD reported that its earnings for the first quarter of 2023 were $5.4 billion, down 4% sequentially from the prior quarter and 9% from the same period a year prior. Gross margin was 44%, with an operating loss of $145 million and a net loss of $139 million, for a loss of $0.09 per share. On a non-GAAP basis, which excludes primarily onetime, noncash-related charges, the gross margin was 50%,