In numbers, AMD reported a revenue of $5.8 billion, up by 9 percent compared to the same period last year, and up by 7 percent compared to the previous quarter. The gross profit was reported at $2.86 million, up by 17 and 12 percent, while the reported gross margin was at 49 percent, a steady increase by 3 and 2 points compared to the same quarter last year and the previous quarter.

AMD also reported operating expenses of $2.6 million, operating income of $269 million, and operating margin of 5 percent. The net income was at $265 million, with diluted earnings per share (EPS) of $0.16, a 700 percent increase compared to the last year and up by 129 percent compared to the previous quarter.

"We delivered strong revenue and earnings growth in the second quarter driven by record Data Center segment revenue," said AMD Chair and CEO Dr. Lisa Su. "Our AI business continued accelerating and we are well positioned to deliver strong revenue growth in the second half of the year led by demand for Instinct, EPYC and Ryzen processors. The rapid advances in generative AI are driving demand for more compute in every market, creating significant growth opportunities as we deliver leadership AI solutions across our business."

"AMD executed well in the second quarter, with revenue above the midpoint of our guidance driven by strong growth in the Data Center and Client segments," said AMD EVP, CFO and Treasurer Jean Hu. "In addition, we expanded gross margin and delivered solid earnings growth, while increasing our strategic AI investments to build the foundation for future growth."

Data Center and Client segments did well, while the Gaming segment was down

When it comes to specific parts of the company, the Data Center segment reported record revenue of $2.8 billion, a 115 percent increase compared to the previous year, and up by 21 percent compared to the previous quarter. According to AMD, the increase was driven by the steep ramp of AMD Instinct GPU shipments and strong growth in 4th Gen AMD EPYC CPU sales. AMD Ryzen CPUs also did well, and the Client segment reported a revenue of $1.5 billion, up by 59 percent compared to the last year.

As expected, the Gaming segment did not do that good, reporting a revenue of $648 million, down by 59 percent compared to the last year, while the Embedded segment reported a revenue of $861 million, down by 41 percent compared to the last year.

AMD expects revenue of $6.8 billion (+/- $300 million) for the third quarter of 2024, which is a growth of 16 percent compared to the same period last year.