According to the Wall Street Journal, AMD CEO Zifeng Su said in a conference call after the company announced its fiscal fourth-quarter results, “We do see the first quarter as the bottom of our personal computer market.” Soo said, “We will see some growth in the second quarter, and then seasonal growth in the second half of the year.”
After a surge at the beginning of the epidemic, PC shipments have fallen sharply. Research firm Gartner said PC shipments fell 28.5 percent in the final quarter of last year, the biggest drop since the company began tracking the market in the 1990s.
AMD today announced the company’s fourth-quarter and full-year fiscal year 2022 results. According to the report, AMD reported fourth-quarter revenue of $5.599 billion (currently about RMB 37.793 billion), up 16 percent from $4.826 billion a year earlier; net income of $21 million (currently about RMB 142 million), down 98 percent from $974 million a year earlier; and adjusted non-GAAP net income of Adjusted non-GAAP net income was $1.113 billion (approximately RMB 7.513 billion), essentially unchanged from $1.122 billion in the prior-year quarter.
AMD’s fourth-quarter revenue and adjusted earnings per share both exceeded Wall Street analysts’ expectations, and full-year 2022 revenue also exceeded expectations, but adjusted earnings per share were slightly below analysts’ expectations. On the outlook, AMD’s revenue outlook for the first quarter of fiscal 2023 missed analysts’ expectations. AMD shares rose more than 3% after hours following the release of the results.