AMD’s fourth-quarter revenue rose 34% to a record $10.3bn, ahead of market forecasts. The beat was driven by $0.4bn worth of sales of its previously written-down inventory to China. Growth was led by a 39% rise in its Data Center segment to $5.4bn followed by a 37% rise in Client and Gaming revenue to $3.9bn
Underlying operating profit rose 41% to $2.9bn, as the increase in revenue more than offset higher operating expenses.
Free cash flow jumped 91% higher to $2.1bn due to the uplift in profitability. Net cash, including lease liabilities, improved from $2.9bn to $6.7bn.
For the current quarter, AMD expects revenue to grow by around 32% to $9.8bn at the midpoint of guidance.
The shares fell 7.8% in early trading.
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AMD key facts
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