One of the tech companies that reported a mind-boggling earnings report with the pandemic continuing was California-based multinational chip maker Advanced Micro Devices Inc (AMD).
The company recently reported its financial results for the fourth quarter and for the entire FY 2021. The report found that the company grew its annual revenue for FY 2021 by a whopping 68%, surpassing revenue for the fourth quarter of FY 2021. the most optimistic analyst estimates.
AMD’s strong quarterly growth points to the company’s growing presence in the enterprise computing segment, which uses data centers for a variety of purposes. Fourth quarter results show that the company’s data center and business segment now generates nearly the same amount of revenue as the company’s largest source of revenue, consumer computers.
The earnings report for the fourth quarter of 2021 states that the company had grown revenue by 12% at the end of December to $4.8 billion compared to the third quarter of 2021. In the third quarter, the semiconductor maker had $4.3 billion in revenue, for a stronger 54% annual growth.
In addition to its quarterly results, the company also released its financial statistics for the entirety of FY 2021. The company had reported revenue of $16 billion at the end of FY 2021, representing a staggering 68% annual growth over the previous year’s figures. fiscal year. year.
The company’s embedded and semi-custom segment, which is responsible for sales to enterprise customers in addition to products present in popular game consoles, accounted for the majority of AMD’s fourth-quarter 2021 revenue growth.
Another major contributor to the company’s profits during the quarter is gross margin. This stat was at 50% during the quarter, marking a rare milestone. However, when we talk about the overall results for the year, they left a little more to be desired in the segment, with FY2021 gross margin standing at 48%.
For the current fiscal year, however, the company appears more determined than ever as it expects to exceed gross margin from 50% to 51%.
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