Advanced Micro Devices Lifts FY22 Revenue Outlook

(RTTNews) - While reporting financial results for the first quarter on Tuesday, Advanced Micro Devices Inc. (AMD) lifted its revenue outlook for the full year 2022.

Looking forward to the full year 2022, AMD now expects revenue to be about $26.3 billion, an increase of around 60% over 2021, driven by the addition of Xilinx and higher server and semi-custom revenue.

Previously, AMD expected revenues to be around $21.5 billion, an increase of approximately 31 percent over 2021.

Analysts polled by Thomson Reuters currently estimate revenues of $25.15 billion for the full year 2022.

AMD now expects gross margin to be around 54% for 2022, up from prior guidance of about 51%.

For the second quarter of 2022, AMD expects revenue to be approximately $6.5 billion, plus or minus $200 million, an increase of approximately 69% year-over-year and approximately 10% quarter-over-quarter. Analysts currently estimate revenues of $6.38 billion for the quarter.

AMD expects adjusted gross margin to be approximately 54% in the second quarter of 2022.