By Ben Glickman


Advanced Micro Devices saw profit beat expectations in the fourth quarter as artificial intelligence demand continued to boost sales.

The Santa Clara, Calif.-based, chipmaker posted a profit of $667 million, or 41 cents a share, in the quarter-ended Dec. 30, compared with $21 million, or 1 cent a share, a year earlier. Analysts polled by FactSet expected per-share earnings of 25 cents.

Stripping out certain one-time items, adjusted per-share earnings came to 77 cents, in line with analysts' expectations.

Revenue rose 10% to $6.17 billion, beating the $6.13 billion expected by analysts polled by FactSet.

AMD's data center segment revenue rose 38% from a year ago, driven by growth in its graphics computing chips, while its client segment was up 62%.

The company expects first-quarter revenue of $5.4 billion, plus or minus $300 million. Analysts polled by FactSet expect revenue of $5.73 billion.

On a sequential basis, AMD said it expects data center segment revenue to be flat, while client, embedded and gaming sales are expected to decline.


Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

01-30-24 1646ET