In addition to the high revenue of US $1.76 billion, which was also up by seven percent compared to the previous quarter, AMD reported operating income of  $153 million, net income of  $116 million, gross margin of 37 percent, and earnings per share of  $0.11 (GAAP results).

This is a great financial quarter for AMD considering that a year ago the company was reporting an operating loss of $1 million and a net loss of $42 million.

Most come from Computing and Graphics segment

When it comes to departments, the biggest piece of that $1.76 billion revenue came from the Computing and Graphics segment, reporting revenues of $1.09 billion. The same department reported a 64 percent growth compared to the same quarter last year but also a three percent drop compared to the last quarter, which was attributed to lower revenue from GPU products in the blockchain market, confirming earlier reports that the cryptocurrency market is slowing down.

The client CPU market suffered from a drop due to lower average selling price (ASP), according to AMD.

Enterprise, Embedded and Semi-Custom segment brought $670 million of revenue, up by 37 percent year-over-year and up by 26 percent compared to the last quarter, mostly due to higher semi-custom and server revenue.

AMD was keen to note that it did a lot in Q2 2018, including showing the 12nm Zen+ based 2nd generation Ryzen Threadripper 32-core/64-thread CPU and the 7nm Vega-based GPU for servers and workstations at the Computex 2018 show, announced new partners for its EPYC data center processors, including HPE, Cisco and Tencent Cloud, announced Radeon FreeSync in Samsung QLED TV family, and expanded partnership with Ubisoft on DirectX 12 technology for its upcoming game, Tom Clancy's Division 2.

AMD expects its Q3 2018 report to bring a revenue of  $1.7 billion (+/- $50 million), which is likely to be an increase of around seven percent compared to the last year, with a non-GAAP gross margin of 38 percent. AMD expects that Ryzen and EPYC sales will help in Q3 2018 and offset lower sales of GPU products.

"We had an outstanding second quarter with strong revenue growth, margin expansion and our highest quarterly net income in seven years," said Dr. Lisa Su, AMD president and CEO. "Most importantly, we believe our long-term technology bets position us very well for the future. We are confident that with the continued execution of our product roadmaps, we are on an excellent trajectory to drive market share gains and profitable growth."