AMD Reports Q2 2020 Earnings: Notebook and Server Sales Drive a Record Quarter

CyberTech

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Continuing our look at tech industry financial results, AMD this afternoon is celebrating setting some new records in its Q2’2020 financial results. Enjoying a continuing turn-around in its fortunes t hanks in big part to its Zen series of CPU architectures and resulting products, the company has just closed the books on the first year of sales of its Zen 2-based desktop processors, with EPYC following close behind. At this point AMD is now setting quarterly revenue records, and the company is expecting to grow its revenue further over the coming months.

For the second quarter of 2020, AMD reported $1.93B in revenue, a 26% jump over the same quarter a year ago. As a result, Q2’2020 was AMD’s best quarter ever, built on the back of record notebook and server revenue. Overall, all of AMD’s metrics have improved in a year-over-year basis, with net income up $122M (349%) to $157M, while the company’s all-important gross margin improved by 3 points to 44%. In fact the only real knock that can be made on AMD’s quarter is that they didn’t pass their Q1’2020 net income or gross margin, which was due to increased semi-custom shipments, which aren’t as profitable for the company.
 

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Even better for AMD is that the benchmarks for Intel's new (to be released in the next few weeks) Tiger Lake CPU (based on the 10nm process) have been leaked. Sadly (for Intel) also benchmarked was the new Ryzen 7 4800U which was ~30% faster. To be fair, the graphics performance of Tiger lake should be excellent with the Gen12 Xe GPU and should best the Radeon performance of AMD.