As Q1 earnings season continues to roll alongside, on deck in the present day is AMD, who’s getting the privilege of reporting some very constructive earnings for the primary three months of 2021. Firing on all cylinders – CPU, GPU, and semi-custom – AMD’s quite a few product launches during the last a number of months at the moment are paying main dividends for the corporate, as every part AMD is in excessive demand. And certainly, AMD is the poster youngster for the present chip crunch, as the corporate is making every part it may well and even after promoting over 3.four billion {dollars}’ price of chips in Q1, it’s nonetheless not sufficient.
For the primary quarter of 2021, AMD reported $3.45B in income, making for an additional staggering leap over a year-ago quarter for AMD, when the corporate made simply $1.79B in what was their finest first quarter in a decade. For 2021 it’s now all about setting (and beating) data for the corporate, as evidenced by the 93% leap in year-over-year income.
AMD’s huge run-up in income can also be mirrored within the firm’s different metrics; together with that income AMD’s internet earnings has grown by 243% year-over-year, now reaching $555M. And if not for an uncommon, one-off tax profit for AMD final quarter, Q1’21 can be AMD’s most worthwhile quarter ever – and certainly is on a non-GAAP foundation. Meanwhile AMD’s gross margin is holding at 46%, regular versus This autumn and up one share level versus the year-ago quarter.
| AMD Q1 2021 Financial Results (GAAP) | |||||||
| Q1’2021 | Q1’2020 | This autumn’2020 | Y/Y | Q/Q | |||
| Revenue | $3.45B | $1.79B | $3.2B | +93% | +6% | ||
| Gross Margin | 46% | 46% | 45% | Flat | +1pp | ||
| Operating Income | $662M | $177M | $570M | +274% | +16% | ||
| Net Income | $555M | $162M | $1781M* | +243% | -69% | ||
| Earnings Per Share | $0.45 | $0.14 | $1.45 | +221% | -69% | ||
One extra the flag bearer for AMD is their Computing and Graphics section, which encompasses their desktop and pocket book CPU gross sales, in addition to their GPU gross sales. That division booked $2.1B in income for the quarter, $662M (46%) greater than Q1 2020. Accordingly, the section’s working earnings is (as soon as extra) up considerably as properly, going from $262M a yr in the past to $485M this yr.
As all the time, AMD doesn’t present an in depth breakout of data from this section, however they’ve supplied some selective info on income and common promoting costs (ASPs). Overall, shopper CPU gross sales had been fairly robust; in response to AMD Ryzen processor gross sales are up total, as are ASPs, on each a quarterly and yearly foundation. The huge wins seem like coming from premium units resembling ultra-thin laptops and gaming units, particularly as pocket book income is up as soon as once more, setting a sixth consecutive report for AMD. On which be aware, in response to AMD their Ryzen 5000 cell (Cezanne) income has ramped up twice as quick because the cell 4000 collection (Renoir), underscoring AMD’s persevering with push into cell.
Meanwhile the corporate is reporting equally excellent news from their GPU enterprise. Sales and ASPs are up because of the launch and ongoing gross sales of varied Radeon RX 6000 merchandise. Overall, AMD’s Radeon RX 6000 income has greater than doubled versus This autumn, as the corporate scrambles to make as many GPUs as it may well in a really GPU-starved market.
| AMD Q1 2021 Reporting Segments | |||||
| Q1’2021 | Q1’2020 | This autumn’2020 | |||
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Computing and Graphics
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| Revenue | $2100M | $1438M | $1960M | ||
| Operating Income | $485M | $262M | $420M | ||
|
Enterprise, Embedded and Semi-Custom
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| Revenue | $1345M | $348M | $1284M | ||
| Operating Income | $277M | -$26M | $243M | ||
Meanwhile AMD’s Enterprise, Embedded, and Semi-Custom section has seen an explosion of progress of its personal over the previous yr, because of the launch of AMD’s third-gen EPYC…
