Advanced Micro Devices tops earnings and revenue expectations; revenue jumps 71%
Advanced Micro Devices press release (NASDAQ:AMD): Q1 Non-GAAP EPS of $1.13  beats by $0.20.
Revenue of $5.9B (+71.2% Y/Y)  beats by $330M.
Shares +4.2%.

For the second quarter of 2022, AMD expects revenue to be approximately $6.5 billion vs. $6.36B consensus, plus or minus $200 million, an increase of approximately 69% year-over-year and approximately 10% quarter-over-quarter. The year-over-year increase is expected to be driven by the addition of Xilinx and higher server, semi-custom and client revenue. The quarter-over-quarter increase is expected to be primarily driven by Xilinx and higher server revenue. AMD expects non-GAAP gross margin to be approximately 54% in the second quarter of 2022.
For the full year 2022, AMD now expects revenue to be approximately $26.3 billion vs. $25.45B consensus, an increase of approximately 60% over 2021, up from prior guidance of approximately 31%, driven by the addition of Xilinx and higher server and semi-custom revenue. AMD expects non-GAAP gross margin to be approximately 54% for 2022, up from prior guidance of approximately 51%.