- First quarter consolidated revenue was $5.9 billion, up 71%
- Excluding Xilinx, revenue grew 55% year-over-year to a record $5.3 billion.
- Record top and bottom-line financial results driven by the close of our Xilinx acquisition.
- Increased net income by more than 60% year-over-year for the last ten quarters.
- Saw a significantly larger TAM opportunity based on broad a portfolio of compute engines and expanded solutions capabilities.
- Closed strategic acquisition of Xilinx and announced plans to acquire Pensando
- For the second quarter of 2022, expect an increase of approximately 69% year-over-year and approximately 10% quarter-over-quarter.
- Expect annual revenue to grow by approximately 60% year-over-year, up from the approximately 31% growth we guided at the beginning of the year.
- The quarter-over-quarter increase is expected to be primarily driven by Xilinx revenue and server revenue.
- AMD revenue has been growing quickly in the past two years.
- 20% CAGR moving forward is much slower than the previous rates.
- Build the best portfolio of high-performance and adaptive computing engines in the industry.
- Sell diversified products, which could increase synergies and lower risks.
- Integrate Xilinx’s differentiated AI engine across our CPU product portfolio to enable industry-leading inference capabilities.
- AMD’s diversified portfolio might create some network effects if customers want to consolidate the vendors.
- Forward revenue CAGR is only~20%
- Data Center, AI, Automotive, and Embedded markets are all trending right now.
- Xilinx and Pensando's acquisition could bring strong synergy and momentum.
BULLISH in both the short term and long term.
- AMD products are well positioned for multiple hottest markets (Datacenter, HPC, AI, etc.), where demands are still larger than supplies.
- AMD’s finance looks healthy and its valuation looks reasonable.
- Given the great track record of AMD CEO Lisa Su, it is convincing that AMD will continue to grow quickly in the near future.