SANTA CLARA, Calif., Feb. 04, 2025 (GLOBE NEWSWIRE) — AMD (NASDAQ:AMD) today announced financial results for the fourth quarter and full year of 2024. Fourth quarter revenue was a record $7.7 billion, gross margin was 51%, operating income was $871 million, net income was $482 million, and diluted earnings per share was $0.29. On a non-GAAP(*) basis, gross margin was 54%, operating income was a record $2.0 billion, net income was a record $1.8 billion, and diluted earnings per share was $1.09. For the full year 2024, AMD reported record revenue of $25.8 billion, gross margin of 49%, operating income of $1.9 billion, net income of $1.6 billion, and diluted earnings per share of $1.00. On a non-GAAP(*) basis, gross margin was a record 53%, operating income was $6.1 billion, net income was $5.4 billion, and diluted earnings per share was $3.31. “2024 was a transformative year for AMD as we delivered record annual revenue and strong earnings growth,” said AMD Chair and CEO Dr. Lisa Su. “Data Center segment annual revenue nearly doubled as EPYC processor adoption accelerated and we delivered more than $5 billion of AMD Instinct accelerator revenue. Looking into 2025, we see clear opportunities for continued growth based on the strength of our product portfolio and growing demand for high-performance and adaptive computing.” “We closed 2024 with a strong fourth quarter, delivering record revenue up 24% year-over-year, and accelerated earnings expansion while investing aggressively in AI and innovation to position us for long-term growth and value creation,” said AMD EVP, CFO, and Treasurer Jean Hu. GAAP Quarterly Financial Results: – Q4 2024: Revenue of $7,658 million, up 24% year-over-year. – Gross profit of $3,882 million, up 33% year-over-year. – Gross margin of 51%, up 4 percentage points year-over-year. – Operating income of $871 million, up 155% year-over-year. – Net income of $482 million, down 28% year-over-year. – Diluted earnings per share of $0.29, down 29% year-over-year. Non-GAAP(*) Quarterly Financial Results: – Q4 2024: Revenue of $7,658 million, up 24% year-over-year. – Gross profit of $4,140 million, up 32% year-over-year. – Gross margin of 54%, up 3 percentage points year-over-year. – Operating income of $2,026 million, up 43% year-over-year. – Net income of $1,777 million, up 42% year-over-year. – Diluted earnings per share of $1.09, up 42% year-over-year. Annual Financial Results: – 2024: Revenue of $25,785 million, up 14% year-over-year. – Gross profit of $12,725 million, up 22% year-over-year. – Gross margin of 49%, up 3 percentage points year-over-year. – Operating income of $1,900 million, up 374% year-over-year. – Net income of $1,641 million, up 92% year-over-year. – Diluted earnings per share of $1.00, up 89% year-over-year. Segment Summary: – Data Center segment revenue in the quarter was a record $3.9 billion, up 69% year-over-year. – Client segment revenue in the quarter was a record $2.3 billion, up 58% year-over-year. – Gaming segment revenue in the quarter was $563 million, down 59% year-over-year. – Embedded segment revenue in the quarter was $923 million, down 13% year-over-year. Recent PR Highlights: – IBM announced plans to deploy AMD Instinct MI300X accelerators to power generative AI and HPC applications on IBM Cloud. – Vultr and AMD announced a strategic collaboration to leverage AMD Instinct MI300X accelerators and AMD ROCm™ open software to power Vultr’s cloud infrastructure for enterprise AI development and deployment. – Aleph Alpha announced that it will leverage AMD Instinct MI300 Series accelerators and ROCm software to enable its tokenizer-free LLM architecture. – Fujitsu and AMD announced a strategic partnership to develop more sustainable computing infrastructure to accelerate open source AI. – AMD expanded strategic investments to advance the AI ecosystem and solutions, including investments in LiquidAI, Vultr, and Absci. – AMD is accelerating its AI software roadmap to deliver a robust open AI stack for the ecosystem. – Dell and AMD announced that AMD Ryzen AI PRO processors will power new Dell Pro notebook and desktop PCs. – AMD expanded its broad consumer and commercial AI PC portfolio. – AMD extended its leadership in high performance computing (HPC), enabling the most powerful and many of the most energy-efficient supercomputers in the world. – AMD powers incredible experiences for gamers across a broad range of devices. – AMD continues to deliver leadership compute performance and capabilities at the edge with an expanded portfolio of solutions. Current Outlook: – For the first quarter of 2025, AMD expects revenue to be approximately $7.1 billion, plus or minus $300 million. – Non-GAAP gross margin is expected to be approximately 54%. AMD Teleconference: – AMD will hold a conference call at 2:00 p.m. PT (5:00 p.m. ET) today to discuss its fourth quarter and full year 2024 financial results.