Chipmaker AMD on Tuesday announced its Q2, 2020 results that beat analyst expectations despite the COVID-19 pandemic. The company reported total revenues of $1.93 billion, up 26% YoY. Operating income came in at $173 million, while net income stood at $157 million. With Intel postponing its 7nm chips until at least 2022, AMD also increased its full-year guidance, saying that it expects 2020 revenues to grow 32% YoY. That would equate to total sales of $8.88 billion, up from the previous guidance of $8.08 billion to $8.75 billion.
In a press release announcing the results, Dr. Lisa Su, AMD president and CEO, said that the company experienced record sales of notebook and server processors during the April-June quarter. “We delivered strong second quarter results, led by record notebook and server processor sales. Ryzen and EPYC revenue more than doubled from a year ago. Despite some macroeconomic uncertainty, we are raising our full-year revenue outlook as we enter our next phase of growth driven by the acceleration of our business in multiple markets”.
The record revenues were primarily driven by higher sales from the computing and graphics segments. Revenue for that segment came in at $1.37 billion, up 45% YoY. The company says that the increased revenues is primarily down to robust sales of its Ryzen processors for laptops. Datacenter adoption of the company’s 2nd-generation EPYC processors also contributed handsomely to the company’s burgeoning bottom-line.
AMD has announced a slew of new Ryzen processors for consumer PCs and workstations recently. Last week, the company announced the Ryzen 4000 and Ryzen 4000 PRO desktop processors. Prior to that, the company announced the Ryzen Threadripper PRO series of processors for workstations. Last month, the company had announced new Ryzen 3000-series processors and the Radeon Pro 5600M GPU.