Advanced Micro Devices (AMD) is set to report second-quarter earnings after the bell Tuesday, with investors likely watching for record data center growth and strong guidance amid the artificial intelligence (AI) boom.
The chipmaker is projected to report revenue of $5.74 billion, according to estimates compiled by Visible Alpha, which would represent 7% growth from the year-ago period. Net income is expected to come in at $342.76 million, or 21 cents per share, an increase from the second quarter of 2023.
AMD will report revenue for its data center segment, with investors watching for continued growth on AI demand.
In the first quarter, AMD’s data center business reached a record-high revenue of $2.3 billion, up 80% from the year-ago period, driven by sales of MI300 chips used for AI data centers.
Analysts expect data center revenue to be $2.79 billion, according to consensus estimates from Visible Alpha, which would be a quarterly record high for …