AMD closed 2024 with a record-breaking quarter, posting $7.7 billion in revenue—a 24% year-over-year increase—driven largely by explosive demand in the data center sector. The company’s Data Center revenue soared 69% year-over-year in Q4 to a record $3.9 billion, fueled by the rapid adoption of EPYC CPUs and AMD Instinct GPUs for AI workloads. For the full year, Data Center revenue nearly doubled to $12.6 billion, solidifying AMD’s leadership in AI-driven computing infrastructure.
CEO Lisa Su highlighted 2024 as a transformative year, emphasizing the company’s growth in AI and adaptive computing. The AI accelerator business surpassed $5 billion in revenue, while AMD’s expanded partnerships with IBM, Vultr, and Aleph Alpha showcased its deep integration into enterprise AI and HPC deployments. As AMD enters 2025, it expects continued momentum, supported by a robust product roadmap and growing adoption of its Instinct MI300 accelerators.
Despite strong results in Data Center and Client segments, AMD saw declines in its Gaming and Embedded businesses due to weaker demand and inventory corrections. Gaming revenue fell 59% year-over-year in Q4, while Embedded revenue dropped 13%. Looking ahead, AMD projects Q1 2025 revenue of approximately $7.1 billion, a 30% year-over-year increase, with non-GAAP gross margins holding steady at 54%.
Key Financial & Data Center Metrics
Q4 2024 Performance:
• Revenue: $7.7 billion (+24% YoY, +12% QoQ)
• GAAP Gross Margin: 51% (up from 47% in Q4 2023)
• Non-GAAP Gross Margin: 54% (up from 51% in Q4 2023)
• GAAP Net Income: $482 million (-28% YoY, -37% QoQ)
• Non-GAAP Net Income: $1.8 billion (+42% YoY, +18% QoQ)
• Earnings Per Share (EPS):
• GAAP: $0.29 (-29% YoY)
• Non-GAAP: $1.09 (+42% YoY)
Full-Year 2024 Performance:
• Revenue: $25.8 billion (+14% YoY)
• GAAP Operating Margin: 7% (up from 2% in 2023)
• Non-GAAP Operating Margin: 24% (up from 21% in 2023)
• GAAP Net Income: $1.6 billion (+92% YoY)
• Non-GAAP Net Income: $5.4 billion (+26% YoY)
• Earnings Per Share (EPS):
• GAAP: $1.00 (+89% YoY)
• Non-GAAP: $3.31 (+25% YoY)
Data Center & AI Growth:
• Q4 Data Center Revenue: $3.9 billion (+69% YoY)
• Full-Year Data Center Revenue: $12.6 billion (+94% YoY)
• AI Accelerator Revenue: Exceeded $5 billion in 2024
• EPYC Processor Growth: Accelerated adoption across cloud and enterprise
• AI Partnerships: IBM, Vultr, Aleph Alpha, Fujitsu, Dell
Segment Trends:
• Client Revenue: $2.3 billion (+58% YoY), driven by Ryzen CPUs
• Gaming Revenue: $563 million (-59% YoY), impacted by lower semi-custom demand
• Embedded Revenue: $923 million (-13% YoY), reflecting inventory normalization
