ON Semiconductor Q2 Revenue Beats Expectations, AI Data Center Revenue Expected to Double for the Year

BlockBeats News, August 4th, AMD's revenue in the second quarter was $16.04 billion, a year-on-year increase of about 9%, higher than the market's expectation of $15.89 billion; adjusted earnings per share were $0.74, higher than the market's expectation of $0.71. The company's net profit was $2.268 billion, compared to $1.703 billion in the same period last year. After the financial report was released, the company's stock price rose more than 7% in after-hours trading.

AMD stated that the AI data center is currently the fastest-growing business, with related revenue expected to more than double year-on-year by 2026. CEO Hassane El-Khoury stated that this reflects the continued expansion of the company's intelligent power product portfolio and the increasing adoption of customers in data center power systems.

The company expects third-quarter revenue to be between $16.5 billion and $17.5 billion, with the midpoint of the range above the market's expectation of $16.7 billion; adjusted earnings per share are expected to be between $0.81 and $0.93, with the midpoint also above the market's expectation of $0.83. AMD is also progressing with its $7 billion all-stock acquisition of Synaptics to expand its presence in the AI devices and robotics sector.