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Investing.com-- Advanced Micro Devices Inc (NASDAQ:AMD) reported better-than-expected fourth quarter earnings and revenue, driving its stock up 4% in after-hours trading.
The chipmaker's robust performance was fueled by accelerating adoption of its EPYC processors and strong demand for AI computing solutions.
AMD posted adjusted earnings per share of $1.09, edging past the analyst estimate of $1.08. Revenue for the quarter reached a record $7.7 billion, surpassing the consensus forecast of $7.54 billion and marking a 24% increase YoY.
The company's Data Center segment was a standout performer, with annual revenue nearly doubling as EPYC processor adoption accelerated.
"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."
For the first quarter of 2025, AMD forecasts revenue between $6.8 billion and $7.4 billion, with the midpoint of $7.1 billion slightly above the analyst consensus of $7.04 billion.
The company's full-year 2024 results were equally impressive, with record revenue of $25.8 billion and non-GAAP gross margin reaching a record 53%.
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