Advanced Micro Devices (AMD) will report third-quarter financial results after the closing bell Tuesday, with analysts calling for significant earnings growth.
Analysts expect the chipmaker to report revenue of $6.71 billion, up nearly 16% year-over-year, according to Visible Alpha. Net income is projected to be $815.76 million or 50 cents per share, more than double the $299 million or 18 cents per share AMD posted a year earlier.
In July, AMD reported data center revenue in the second quarter more than doubled year-over-year to a record $2.8 billion, as demand for the company’s artificial intelligence (AI) chips surged.
Analysts expect data center revenue to rise to a fresh high of $3.52 billion for the third quarter. CEO Lisa Su said in July that AMD expects to “deliver strong revenue growth in the second half of the year led by demand for Instinct, EPYC and Ryzen processors.”
At the company’s Advancing AI eventearlier this …