Live Nasdaq Composite: Tech Stock Strength Buoys Market Sentiment Despite Hawkish Fed
Q3 24 EPS
$0.92
BEAT +1.10%
Est. $0.91
Q3 24 Revenue
$6.82B
BEAT +1.64%
Est. $6.71B
vs S&P Since Q3 24
+217.0%
BEATING MARKET
AMD +245.6% vs S&P +28.6%
Market Reaction
Did AMD Beat Earnings? Q3 2024 Results
Advanced Micro Devices delivered a solid beat across both top and bottom lines in Q3 2024, with earnings per share of $0.92 edging past the $0.91 consensus estimate by 1.10% and revenue of $6.82 billion coming in 1.64% ahead of the $6.71 billion Wall… Read more Advanced Micro Devices delivered a solid beat across both top and bottom lines in Q3 2024, with earnings per share of $0.92 edging past the $0.91 consensus estimate by 1.10% and revenue of $6.82 billion coming in 1.64% ahead of the $6.71 billion Wall Street had expected, representing 17.6% growth year-over-year. The standout driver was AMD's Data Center segment, which posted record revenue of $3.55 billion, up 122% year-over-year, as rapid shipment growth for Instinct GPUs and continued momentum in EPYC processors powered the company's AI ambitions. The Client segment added to the strength, with revenue climbing 29% year-over-year to $1.88 billion on robust Zen 5 Ryzen demand, though sharp declines in Gaming, down 69% to $462 million, tempered the overall picture. Despite the beat, some analysts flagged the Q4 guidance as underwhelming relative to elevated expectations, a tension that weighed on investor sentiment. Looking ahead, AMD guided Q4 revenue to approximately $7.50 billion, implying roughly 22% year-over-year growth, with non-GAAP gross margin expected near 54%.
Key Takeaways
- • Strong ramp of AMD Instinct GPU shipments driving record Data Center revenue
- • Growth in AMD EPYC CPU sales for servers
- • Strong demand for Zen 5 AMD Ryzen processors in Client segment
- • Sequential improvement in Embedded segment as demand improved in several end markets
- • Higher revenue mix driving gross margin expansion
AMD YoY Financials
Q3 2024 vs Q3 2023, source: SEC Filings
AMD Revenue by Segment
With YoY comparisons, source: SEC Filings
“We delivered strong third quarter financial results with record revenue led by higher sales of EPYC and Instinct data center products and robust demand for our Ryzen PC processors.”
— Lisa Su, Q3 2024 Earnings Press Release
AMD Earnings Trends
AMD vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
AMD EPS Trend
Earnings per share: estimate vs actual
AMD Revenue Trend
Quarterly revenue: estimate vs actual
AMD Quarterly Results
8 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $1.29 | $1.37 | +5.88% | $10.25B | +3.41% |
| Q4 25 BEAT FY | $1.32 | $1.53 | +15.98% | $10.27B | +6.20% |
| FY Full Year | — | $4.17 | — | $34.64B | — |
| Q3 25 BEAT | $1.17 | $1.20 | +2.37% | $9.25B | +5.66% |
| Q2 25 MISS | $0.48 | $0.48 | -0.54% | $7.69B | +3.43% |
| Q1 25 BEAT | $0.93 | $0.96 | +2.83% | $7.44B | +4.47% |
| Q4 24 BEAT FY | $1.09 | $1.09 | +0.36% | $7.66B | +1.76% |
| FY Full Year | — | $3.31 | — | $25.79B | — |
| Q3 24 BEAT | $0.91 | $0.92 | +1.10% | $6.82B | +1.64% |
| Q2 24 BEAT | $0.68 | $0.69 | +1.47% | $5.84B | +1.94% |