AMD Doubles Revenue in the Second Quarter

The second quarter of 2021 was extremely successful for AMD. The company's revenue grew 99 percent, while gross margin expanded to 48 percent.

Revenue in the quarter was $3.85 billion, while operating income grew 380 percent to $831 million. Net income was up 352 percent at $710 million and diluted earnings per share was $0.58. On a non-GAAP basis, operating income was $924 million, net income was $778 million and diluted earnings per share was $0.63.

“Our business performed exceptionally well in the second quarter as revenue and operating margin doubled and profitability more than tripled year-over-year,“ said AMD president and CEO Lisa Su. “We are growing significantly faster than the market with strong demand across all of our businesses. We now expect our 2021 annual revenue to grow by approximately 60 percent year-over-year driven by strong execution and increased customer preference for our leadership products.“

For the third quarter of 2021, AMD expects revenue to be approximately $4.1 billion, plus or minus $100 million, an increase of approximately 46 percent year-over-year and approximately 6 percent quarter-over-quarter. For the full year 2021, the company now expects revenue growth of approximately 60 percent, up from prior guidance of approximately 50 percent.