AMD $Advanced Micro Devices (AMD.US)$ The Q2 earnings report will be released after the market closes on August 1 local time.
According to AMD's forecast, the midpoint of its revenue guidance range for the second quarter of 2023 is $5.3 billion, a year-on-year decrease of 19%, and basically flat quarter-on-quarter. According to Zacks consensus estimates, the market generally expects revenue to be $5.32 billion, a decrease of 18.73% from the same period last year, and the market generally expects earnings per share to be 57 cents, a year-on-year decrease of 45.71%.
This performance is not very optimistic, especially when compared with Intel, its long-time rival that recently released an earnings report that exceeded expectations.
After two consecutive quarters of losses, Intel has finally returned to profitability, with both quarterly revenue and net profit exceeding the upper end of the company’s guidance.
The earnings report shows that Intel's revenue in the second quarter was $12.9 billion, a year-on-year decrease of 15%, but higher than the market expectation of $12.02 billion; net profit was $1.473 billion, compared with a net loss of $454 million in the same period last year; gross margin decreased by 0.7 percentage points year-on-year to 35.8%; adjusted gross margin was 39.8%, higher than the company’s previous forecast of 37.5%; adjusted earnings per share were 13 cents, better than the market expectation of a loss of 3 cents per share.
In the first quarter, this performance was as bad as it could get. Intel’s total revenue in the first quarter fell 36% year-on-year and 16% quarter-on-quarter to $11.7 billion, higher than analysts...