AMD has announced revenues of US$984 million for the first quarter of 2017, up 18% on year but down 11% sequentially. Operating loss for the quarter came to US$29 million, with net loss of US$73 million, or US$0.08 per share.
On a non-GAAP basis, operating loss was US$6 million, net loss was US$38 million, and loss per share was US$0.04, AMD said.
"We achieved 18% year-over-year revenue growth driven by strong demand for our high performance Ryzen CPUs as well as graphics processors," said Lisa Su, AMD president and CEO. "We are positioned for solid revenue growth and margin expansion opportunities across the business in the year ahead as we bring innovation, performance, and choice to an expanding set of markets."
The first-quarter growth was driven by higher revenues in both the Computing and Graphics and Enterprise, Embedded, and Semi-Custom business segments, AMD said, adding the revenues were down 11% seuentially, due primarily to seasonality in both segments.
But the Computing and Graphics segment revenue decline was better than seasonal due to the initial sales from high performance Ryzen desktop processors.
On a GAAP basis, gross margin was 34%, up 2pp year-over-year and sequentially due to a higher percentage of revenues from the Computing and Graphics segment, as well as a richer product mix within that segment, said AMD.
Operating loss of US$29 million compared to operating losses of US$68 million a year ago and US$3 million in the prior quarter. Net loss of US$73 million compared to net losses of US$109 million a year ago and US$51 million in the prior quarter.
For the second quarter of 2017, AMD expects revenues to increase approximately 17% sequentially, plus or minus 3%. The midpoint of guidance would result in second quarter 2017 revenue increasing approximately 12% year-over-year.
