| Q3 2022 | Q3 2021 | Y/Y | |||||
| Revenue ($M) | $ | 5,565 | $ | 4,313 | Up 29% | ||
| Gross profit ($M) | $ | 2,776 | $ | 2,087 | Up 33% | ||
| Gross margin % | 50 | % | 48 | % | Up 150 bps | ||
| Operating expenses ($M) | $ | 1,520 | $ | 1,035 | Up 47% | ||
| Operating income ($M) | $ | 1,264 | $ | 1,055 | Up 20% | ||
| Operating margin % | 23 | % | 24 | % | Down 1pp | ||
| Net income ($M) | $ | 1,095 | $ | 893 | Up 23% | ||
| Earnings per share | $ | 0.67 | $ | 0.73 | Down 8% | ||
“Third quarter results came in below our expectations due to the softening PC market and substantial inventory reduction actions across the PC supply chain," said AMD Chair and CEO Dr. Lisa Su. "Despite the challenging macro environment, we grew revenue 29% year-over-year driven by increased sales of our data center, embedded and game console products. We are confident that our leadership product portfolio, strong balance sheet, and ongoing growth opportunities in our data center and embedded businesses position us well to navigate the current market dynamics.”
