AMD revises its full-year revenue forecast and continues to seize Intel’s turf, up 1% | Anue Juheng

Super Micro (AMD-US) On Tuesday (27th) it was announced that the financial report for the second quarter of fiscal year 2021 was better than market expectations. It is optimistic that data centers and games are still the main growth drivers in the third quarter, and various businesses are expected to continue to grow. The annual revenue growth rate will be reduced from The 50% increase to 60% means that it is expected to continue to grab Intel’s market share in the profitable server chip market, and AMD rose 1.12% after the market.

F2021 Q3 financial forecast
  • Revenue is approximately 4.1 billionDollar, Fluctuating up and down 100 millionDollar, FactSet survey is expected to be 3.82 billionDollar
  • The estimated annual revenue growth rate is 46%, and the quarterly growth rate is 6%
  • Gross profit margin (non-GAAP) is 48%
  • The annual revenue growth rate for the whole year is about 60%, and the estimated value in the previous quarter is 50%

Looking ahead to the third quarter, AMD said that the growth in the third quarter is expected to be mainly driven by the data center and gaming business.

AMD President and CEO Lisa Su said that, driven by all business growth, F2021 annual revenue will be revised upwards, and the annual growth rate will rise from the originally expected 50% to about 60%, bringing last year’s revenue to 9.67 billion.DollarFrom a point of view, it means that this year’s annual revenue will reach 15.47 billionDollar, Better than market expectations of 14.65 billionDollar

Su Zifeng stated in the conference call that the CPU business in the second quarter continued to benefit from the strong demand for desktop computers and laptops. The revenue of desktop and laptop CPUs reached double-digit annual growth and continued to grow for 5 consecutive quarters.

Regarding consumer graphics graphics cards (GPU), Su Zifeng said that Radeon RX 6000 sales are booming. Asus, HP, MSI and Lenovo announced that as AMD’s gaming notebook market share further expands, they plan to launch more in the next few months. Laptops with multiple AMD graphics cards.

Su Zifeng expects data center GPU revenue to grow in the second half of this year. The company will accelerate the production of a new generation of AMD Instinct and open source ROCm software to support large orders of supercomputers including Frontier, LUMI and PASI.

In addition, server CPU shipments and average selling price (ASP) continue to increase driven by the second and third generations of EPYC processors, and the demand for cloud and commercial customers is also accelerating. It is expected to be driven by strong demand for EPYC processors and AMD Instinct , And actively cooperate with OEM and other customers, the data center revenue growth rate will be better than the company’s overall growth.

Su Zifeng said that semi-customized products continue to benefit from the strong demand for PS5, Xbox Series X and Series S game console SoCs. In addition, a new customer Steam Deck game console will also be launched at the end of this year. It is estimated that home console CPU demand momentum It will last a whole year.

Su Zifeng said that AMD is still expected to launch next-generation products in 2022, including Zen 4 CPU and RDNA 3 GPU built with 5 nm process technology.

In addition, in response to the chip shortage in the second half of the year, Su Zifeng said,The current supply is still tight, but it is expected to improve in 2022. AMD continues to work with supply chain partners and is confident that supply chain supply will continue to grow substantially from the second half of this year to 2022.

Q2 (As of 6/26) Financial report data (non-GAAP)
  • Revenue: 3.85 billionDollar, FactSet survey is expected to be 3.62 billionDollar
  • EPS after dilution: 0.63 Dollar, FactSet survey is expected to be 0.54 Dollar
  • Gross profit margin: 48%, an annual increase of 4%, a quarterly increase of 2%
  • Operating profit: 924 millionDollar, An annual increase of 297%
  • Net Profit (GAAP): 710 millionDollar, An annual increase of 352%
  • Free cash flow (FCF): 888 millionDollar, Innovation high

AMD’s second quarter revenue hit a new high again, reaching 3.85 billionDollar, An annual increase of 99%, and achieved positive growth for 5 consecutive quarters. In addition, the gross margin, profit margin, and net profit margin rose three times in the second quarter, showing a strong growth trend.

Su Zifeng said that the excellent product portfolio and strong demand promoted the continuous growth of AMD’s various businesses in the second quarter. Both revenue and operating profit ratio have doubled compared with the original, and the net profit growth rate has also been close to 3 times.

Computing (CPU) and graphics (GPU) revenue increased by 65% ​​annually to 2.25 billionDollar, Better than market expectations. Driven by the rich Ryzen series processor product portfolio of desktops and laptops, the average selling price (ASP) of CPUs has grown compared with last year and the previous quarter.

In addition, the increase in the sales ratio of high-end GPUs (including data center GPU products) has driven GPU ASPs to also show annual and quarterly growth.

The revenue of the enterprise, embedded and semi-customized department was 1.6 billionDollar, Continues to hit new highs, with a quarterly increase of 19% and an annual increase of 183%, which is better than market expectations of 1.44 billionDollar. This department includes server CPUs and game console chips. EPYC processors continued to increase sales in the second quarter, while semi-customized sales rebounded from the previous quarter.

All other business losses are 93 millionDollar, The operating loss of the same period last year was 60 millionDollar, Compared to 100 million last quarterDollar


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