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Question AMD 2Q21 Financial Results

Hitman928

Diamond Member
Apr 15, 2012
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  • Advanced Micro Devices (NASDAQ:AMD): Q2 Non-GAAP EPS of $0.63 beats by $0.09; GAAP EPS of $0.58 beats by $0.12.
  • Revenue of $3.85B (+99.5% Y/Y) beats by $240M.
  • For Q3, AMD guides revenue of ~$4.1B (consensus: $3.8B), plus or minus $100M, and non-GAAP gross margin of 48%.
  • For the full year 2021, AMD now expects revenue growth of ~60%, up from prior guidance of ~50%

Developing. . .
 

Hitman928

Diamond Member
Apr 15, 2012
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Computing and Graphics segment revenue was $2.25 billion, up 65 percent year-over-year and 7 percent quarter-over-quarter driven by higher client and graphics processor sales.
  • Client processor average selling price (ASP) grew year-over-year and quarter-over-quarter driven by a richer mix of Ryzen desktop and notebook processor sales.
  • GPU ASP grew year-over-year and quarter-over-quarter driven by high-end graphics product sales, including data center GPU sales.
Enterprise, Embedded and Semi-Custom segment revenue was $1.60 billion, up 183 percent year-over-year and 19 percent quarter-over-quarter. The increases were driven by higher EPYC processor revenue and semi-custom product sales.

In May 2021, the Company announced a $4 billion share repurchase program. In the second quarter, the Company repurchased 3.2 million shares of common stock for $256 million.

The Top500 organization announced the world’s fastest supercomputers. The number of AMD-powered systems on the list grew by almost five times in the past year. AMD EPYC processors power half of the 58 new systems added to the June 2021 listing.

For the third quarter of 2021, AMD expects revenue to be approximately $4.1 billion, plus or minus $100 million, an increase of approximately 46 percent year-over-year and approximately 6 percent quarter-over-quarter. The year-over-year increase is expected to be driven by growth across all businesses. The quarter-over-quarter increase is expected to be primarily driven by growth in AMD’s data center and gaming businesses.

For the full year 2021, AMD now expects revenue growth of approximately 60 percent, up from prior guidance of approximately 50 percent, driven by strong growth across all businesses. AMD now expects non-GAAP gross margin to be approximately 48 percent for the full year 2021, up from prior guidance of approximately 47 percent.

 

A///

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Feb 24, 2017
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And to think this AMD being constrained due to shortages affecting the entire industry while ignoring having to share nodes. For the benefit of consumes, I hope Zen 3 v-cache, Zen 4 and Zen 5 deliver answers to Intel's future -Lakes and their upcoming answer to the Threadripper lineup, not to mention Epyc. Wins all around for the consumer when each company one-ups the other on a continuous basis. Should Intel's impending product lines fall flat on their face, I wouldn't be surprised if AMD's consumer lineup, that is the Ryzen, seen an ASP increase of 50-150 USD across the range, and who knows how much Threadripper will cost. AMD will always try and push for better hardware each generation, but they have zero issues increasing prices either when they know people will pay for top tier performance if it's worth it.

Unrealistic example as follows, but if AMD's Zen 4 and Zen 5 delivered a 60% IPC increase in line with a new architecture each despite not being a new one and increased prices anywhere from $100-200 on current models, people would still buy it. It would leave Intel in the dust for several more years.

While my example is very unlikely and the stuff horror films would be made of if horror films revolved around computer hardware, it would be rather disastrous for the consumer wallet.
 
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eek2121

Golden Member
Aug 2, 2005
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What I like: they continue to execute at full speed.

What I don't: they continue to expect to be able to execute without competition, at full speed.

I suspect next quarter will see another massive haul, but probably a bit lower than most expect. After that, I expect that Intel's new product launches (ADL-S, DG2?, etc.) will begin to eat into AMD's growth. Once mobile Alder Lake lands early next year, AMD will have to step it up a notch or two if they want to continue growth.
 

gdansk

Senior member
Feb 8, 2011
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I think Lisa Su emphasizes consistent execution for a reason. They need to keep delivering new products on an aggressive time table. They have two competitors around which they can never relax. If, for some reason, a competitor doesn't deliver on time they'll get excellent results like this. But AMD's roadmap is not counting on Intel or Nvidia messing up again.
 

moinmoin

Platinum Member
Jun 1, 2017
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They have two competitors around which they can never relax. (...) But AMD's roadmap is not counting on Intel or Nvidia messing up again.
I was wondering at first which two competitors you refer to. :D

Nvidia is fair. Intel I'd expand to the compute market as a whole where Apple on the consumer front and in-house solutions like AWS' Graviton on the cloud front are a far more serious attacks on customer expectations and financial bottom line than Intel is so far.
 

lobz

Golden Member
Feb 10, 2017
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What I like: they continue to execute at full speed.

What I don't: they continue to expect to be able to execute without competition, at full speed.
How could you (not you personally, but any of us) possibly know that?
 

coercitiv

Diamond Member
Jan 24, 2014
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What I don't: they continue to expect to be able to execute without competition, at full speed.
You're making little sense here, execution "at full speed" IS their most competitive strategy. I said it before, AMD's "Conroe moment" is their execution. Every time AMD launches a new gen they solve some of their big remaining problems: last year alone they fixed max clocks, gaming perf, and more importantly idle mobile power usage.

AMD's next big problem on the list is supply, and I suspect the use of 3D cache on Zen3 is a very competition-aware move, as it opens up a path for keeping AM4 relevant even when overlapping an AM5 launch, with the ultimate goal of increasing supply using two nodes from TSMC. Rembrandt is built with the same goal in mind: make iterative changes to CPU and GPU while using a node that will maximize availability. OEMs will love it.

Remember ADL is a 2022 product, in Q4 2021 we only get a taste of it. AMD supply is bound to look very different come the winter holidays, let alone in Q1-Q2 2022.
 

eek2121

Golden Member
Aug 2, 2005
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You're making little sense here, execution "at full speed" IS their most competitive strategy. I said it before, AMD's "Conroe moment" is their execution. Every time AMD launches a new gen they solve some of their big remaining problems: last year alone they fixed max clocks, gaming perf, and more importantly idle mobile power usage.

AMD's next big problem on the list is supply, and I suspect the use of 3D cache on Zen3 is a very competition-aware move, as it opens up a path for keeping AM4 relevant even when overlapping an AM5 launch, with the ultimate goal of increasing supply using two nodes from TSMC. Rembrandt is built with the same goal in mind: make iterative changes to CPU and GPU while using a node that will maximize availability. OEMs will love it.

Remember ADL is a 2022 product, in Q4 2021 we only get a taste of it. AMD supply is bound to look very different come the winter holidays, let alone in Q1-Q2 2022.
Correct, however, from what we know so far, ADL will beat most of the AMD line up in terms of performance. I stated this in the Intel thread, but I will reiterate it here in slightly different wording: For the “around” price of a 5600X you will get a number of “big” cores, each of which are faster than Zen 3, plus a number of small cores.

5600x: 6 cores/12 threads
5800x: 8 cores/12 threads
5900x: 12 cores/24 threads

12600k: 10 cores/12 threads (6+4)
12700k: 12 cores/20 threads (8+4)
12900k 16 cores/24 threads (8+8)

Even if gracemont is an absolute snail by comparison, Intel parts are going to wipe current gen Zen 3 out when it comes to performance. The only chip that will even be close would be the 5950X.

Hopefully this means price cuts. Maybe this is why the 5600x price has been drifting down.

The situation will be even more interesting on mobile.

Hopefully the 3D cache refresh helps.
 
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DrMrLordX

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Correct, however, from what we know so far, ADL will beat most of the AMD line up in terms of performance.
What makes you think they really care about that?

Genoa is squaring off against a heavily-delayed Sapphire Rapids. Look at the respective growth rates of revenue (Client + graphics vs. Enterprise/embedded/semi-custom) and see where the big numbers are piling up. AMD is going for the gold, not the silver.
 

Ajay

Diamond Member
Jan 8, 2001
9,209
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Correct, however, from what we know so far, ADL will beat most of the AMD line up in terms of performance. I stated this in the Intel thread, but I will reiterate it here in slightly different wording: For the “around” price of a 5600X you will get a number of “big” cores, each of which are faster than Zen 3, plus a number of small cores.

5600x: 6 cores/12 threads
5800x: 8 cores/12 threads
5900x: 12 cores/24 threads

12600k: 10 cores/12 threads (6+4)
12700k: 12 cores/20 threads (8+4)
12900k 16 cores/24 threads (8+8)

Even if gracemont is an absolute snail by comparison, Intel parts are going to wipe current gen Zen 3 out when it comes to performance. The only chip that will even be close would be the 5950X.

Hopefully this means price cuts. Maybe this is why the 5600x price has been drifting down.

The situation will be even more interesting on mobile.

Hopefully the 3D cache refresh helps.
This isn't a technical thread in the typical sense. It's just the best place to put AMD and Intel financial threads (since most of us wouldn't be looking for them in OT).
 
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maddie

Diamond Member
Jul 18, 2010
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Correct, however, from what we know so far, ADL will beat most of the AMD line up in terms of performance. I stated this in the Intel thread, but I will reiterate it here in slightly different wording: For the “around” price of a 5600X you will get a number of “big” cores, each of which are faster than Zen 3, plus a number of small cores.

5600x: 6 cores/12 threads
5800x: 8 cores/12 threads
5900x: 12 cores/24 threads

12600k: 10 cores/12 threads (6+4)
12700k: 12 cores/20 threads (8+4)
12900k 16 cores/24 threads (8+8)

Even if gracemont is an absolute snail by comparison, Intel parts are going to wipe current gen Zen 3 out when it comes to performance. The only chip that will even be close would be the 5950X.

Hopefully this means price cuts. Maybe this is why the 5600x price has been drifting down.

The situation will be even more interesting on mobile.

Hopefully the 3D cache refresh helps.
How is it possible to get this?

12600k: 10 cores/12 threads (6+4)
 

lobz

Golden Member
Feb 10, 2017
1,767
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(...)
Even if gracemont is an absolute snail by comparison, Intel parts are going to wipe current gen Zen 3 out when it comes to performance. The only chip that will even be close would be the 5950X.
(...)
Here we go again. The remake of the Rocket Lake Tales where Captain AMDoomed fails to reconcile his troops against the mighty Force from the Future.
 

eek2121

Golden Member
Aug 2, 2005
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What makes you think they really care about that?

Genoa is squaring off against a heavily-delayed Sapphire Rapids. Look at the respective growth rates of revenue (Client + graphics vs. Enterprise/embedded/semi-custom) and see where the big numbers are piling up. AMD is going for the gold, not the silver.
Genoa is going to be a late 2022 product at the earliest. General availability will likely be 2023 fyi.
Here we go again. The remake of the Rocket Lake Tales where Captain AMDoomed fails to reconcile his troops against the mighty Force from the Future.
Oh please, I have 5 AMD systems and a few thousand shares of AMD stock. Take your fanboy accusations elsewhere. I don’t look through rose colored lenses unlike you and others.




You cannot use the word fanboy to insult members of the forum.
Read the rules.





esquared
Anandtech Forum Director
 
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lobz

Golden Member
Feb 10, 2017
1,767
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Genoa is going to be a late 2022 product at the earliest. General availability will likely be 2023 fyi.

Oh please, I have 5 AMD systems and a few thousand shares of AMD stock. Take your fanboy accusations elsewhere. I don’t look through rose colored lenses unlike you and others.
Once again you wrote here something completely irrelevant and personal about yourself. Not to mention I have never accused you of being a fanboy. What point does your comment have?
 

Asterox

Senior member
May 15, 2012
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rainy

Senior member
Jul 17, 2013
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Oh please, I have 5 AMD systems and a few thousand shares of AMD stock. Take your redactedaccusations elsewhere. I don’t look through rose colored lenses unlike you and others.
It doesn't matter how many AMD systems/shares you have if you sound like typical Intel redatcedwith "argument" like this one:

Even if gracemont is an absolute snail by comparison, Intel parts are going to wipe current gen Zen 3 out when it comes to performance.
Btw, another impressive quarter from AMD, however I really don't like they're wasting money on buybacks.




You cannot use the word fanboy to insult members of the forum.
Read the rules.


esquared
Anandtech Forum Director
 
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Asterox

Senior member
May 15, 2012
598
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It doesn't matter how many AMD systems/shares you have if you sound like typical Intel fanboy with "argument" like this one:

Btw, another impressive quarter from AMD, however I really don't like they're wasting money on buybacks.
Well it is ok, compared to the absolute lack of vision=we sell cheap just to get rid of and make a business failure the size of Venus.

 

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