SANTA CLARA, Calif., Jan. 30, 2024 (GLOBE NEWSWIRE) -- AMD (NASDAQ:AMD) today announced revenue for the fourth quarter of 2023 of $6.2 billion, gross margin of 47%, operating income of $342 million, net income of $667 million and diluted earnings per share of $0.41. On a non-GAAP(*) basis, gross margin was 51%, operating income was $1.4 billion, net income was $1.2 billion and diluted earnings per share was $0.77.
For the full year 2023, the company reported revenue of $22.7 billion, gross margin of 46%, operating income of $401 million, net income of $854 million and diluted earnings per share of $0.53. On a non-GAAP(*) basis, gross margin was 50%, operating income was $4.9 billion, net income was $4.3 billion and diluted earnings per share was $2.65.
“We finished 2023 strong, with sequential and year-over-year revenue and earnings growth driven by record quarterly AMD Instinct GPU and EPYC CPU sales and higher AMD Ryzen processor sales,” said AMD Chair and CEO Dr. Lisa Su. “Demand for our high-performance data center product portfolio continues to accelerate, positioning us well to deliver strong annual growth in what is an incredibly exciting time as AI re-shapes virtually every part of the computing market.”
“AMD executed well in 2023 despite a mixed demand environment,” said AMD EVP, CFO and Treasurer Jean Hu. “We drove year-over-year revenue growth in our Data Center and Embedded segments and successfully launched our AMD Instinct MI300 GPUs positioning us for a strong product ramp in 2024.”
| GAAP Quarterly Financial Results | |||||
| Q4 2023 | Q4 2022 | Y/Y | Q3 2023 | Q/Q | |
| Revenue ($M) | $6,168 | $5,599 | Up 10% | $5,800 | Up 6% |
| Gross profit ($M) | $2,911 | $2,403 | Up 21% | $2,747 | Up 6% |
| Gross margin | 47% | 43% | Up 4 ppts | 47% | Flat |
| Operating expenses ($M) | $2,575 | $2,557 | Flat | $2,533 | Up 2% |
| Operating income (loss) ($M) | $342 | $(149) | Up 330% | $224 | Up 53% |
| Operating margin | 6% | (3%) | Up 9 ppts | 4% | Up 2 ppts |
| Net income ($M) | $667 | $21 | Up 3,076% | $299 | Up 123% |
| Diluted earnings per share | $0.41 | $0.01 | Up 4,000% | $0.18 | Up 128% |
