Multinational semiconductor firm Advanced Micro Devices Inc. expects its revenues to hit $5 billion in the first quarter of the year even as its bottom line slipped in the previous quarter, the company announced in a filing.

  • Fourth-quarter revenue was up 49% to $4.826 billion from $3.244 billion the previous year and up 12% from $4.313 billion the previous quarter, driven mainly due to stronger earnings in the computing and graphics, and enterprise segments.
  • Net income for the quarter fell by 45% to $974 million from $1.781 billion the previous year, which included tax benefits. Earnings per share slipped by 45% to $0.90 from $1.45.
  • Revenue for the first quarter of 2022 is expected to grow by 45% year-on-year to $5.0 billion, driven by growth across all businesses. Full-year revenue is expected to be approximately $21.5 billion or up 31% from 2021.
  • Full-year 2021 revenue grew by 68% to $16.434 billion from $9.763 billion. Net income jumped 27% to $3.162 billion from $2.490 billion, while earnings per share gained 25% to $2.57 from $2.06.

Chief Executive Dr. Lisa Su said AMD expects another year of “significant growth” this year as it ramps up its portfolio and launches next-generation products. AMD is up 12.52% premarket.