2020 | 2021 | 2022 | 2023 | 2024 | |
---|---|---|---|---|---|
Revenue | $9.8B | $16B | $24B | $23B | $26B |
Cost of Revenue | $5.4B | $8.5B | $12B | $12B | $13B |
Gross Profit | $4.3B | $7.9B | $12B | $10B | $13B |
Gross Profit % | 45% | 48% | 51% | 46% | 49% |
R&D Expenses | $2B | $2.8B | $5B | $5.9B | $6.5B |
2020 | 2021 | 2022 | 2023 | 2024 | |
---|---|---|---|---|---|
Net Income | $2.5B | $3.2B | $1.3B | $854M | $1.6B |
Dep. & Amort. | $354M | $463M | $4.3B | $3.6B | $3.2B |
Def. Tax | -$1.2B | $308M | -$1.5B | -$1B | -$1.2B |
Stock Comp. | $274M | $379M | $1.1B | $1.4B | $1.4B |
Chg. in WC | -$931M | -$774M | -$1.8B | -$3B | -$2.1B |
2020 | 2021 | 2022 | 2023 | 2024 | |
---|---|---|---|---|---|
Cash | $1.6B | $2.5B | $4.8B | $3.9B | $3.8B |
ST Investments | $695M | $1.1B | $1B | $1.8B | $1.3B |
Cash & ST Inv. | $2.3B | $3.6B | $5.9B | $5.8B | $5.1B |
Receivables | $2.1B | $2.7B | $4.1B | $5.4B | $6.2B |
Inventory | $1.4B | $2B | $3.8B | $4.4B | $5.7B |
AMD reported record annual revenue for 2024, with a 26% increase in net income and more than doubling free cash flow compared to 2023. The data center segment contributed approximately 50% of annual revenue, driven by strong adoption of EPYC processors and Instinct accelerators.
Fourth-quarter revenue reached a record $7.7 billion, up 24% year-over-year, led by significant growth in the data center and client segments. Data center revenue grew 69% year-over-year to $3.9 billion, while gaming and embedded segments saw declines.
AMD's data center AI business generated over $5 billion in revenue in 2024, with strong adoption of MI300X GPUs by major customers like Meta and Microsoft. The company plans to accelerate production of the MI350 series to mid-2025 and expects continued growth in AI hardware and software.
For 2025, AMD anticipates strong double-digit percentage revenue and EPS growth, driven by data center and client businesses. The company expects Q1 2025 revenue of approximately $7.1 billion, up 30% year-over-year, with gross margins consistent at 54%.
AMD remains optimistic about long-term growth opportunities in AI and data center markets, projecting its data center AI business to grow from $5 billion in 2024 to tens of billions of dollars annually in the coming years. The company also highlighted its competitive positioning in server CPUs and GPUs, with plans to expand its product portfolio further.