On February 01, Advanced Micro Devices Inc. (AMD) declared its financial results for the quarter and the full year ended December 31, 2021. Consequently, the stock made some good gain in the after-hours session on Tuesday.
During the regular session, the stock varied between a high of $117.26 and a low of $112.73. AMD closed the session at $116.78 with a gain of 2.21% at a heavy volume of 122.47M shares. Following the announcement, the stock added a further 10.46% at an active after-hours volume of 13.45M. Hence, AMD was trading at $129.00 per share in the after-hours session on Tuesday.
Founded in 1969, Advanced Micro Devices Inc. is a semiconductor company. Currently, the company has a market capitalization of $137.97B with 1.21B outstanding shares. AMD has lost 18.85% year to date while it gained 31.42% last year.
AMD’s Q4 and Full-year 2021 Financials
On Tuesday, AMD reported revenue of $4.8B and $16.4B for Q4 and full-year 2021, respectively. Thus, the Q4 revenue increased by 49% YOY and the full year’s revenue increased by 68% YOY.
Moreover, the company had a non-GAAP net income of $1.1B in Q4 2021, against $636M in the year-ago quarter. Resultantly, the non-GAAP net income per diluted share was $0.92 and $0.52 in Q4 of 2021 and 2020, respectively.
For the full year 2021, the company had a non-GAAP net income of $3.4B, against $1.6B in the previous year. Therefore, the non-GAAP net income per diluted share was $2.79 and $1.29 in 2021 and 2020, respectively.
Additionally, the company ended the year with cash, cash equivalents, and short-term investments of $3.6 B.
Future Outlook
The expected revenue for Q1 2022 is $5.0B (+/- $100M), an approximate growth of 45% YOY.
Furthermore, the full year 2022 expected revenue is nearly $21.5B with 31% growth YOY.
In addition, the company expects the growth in both Q1 and full-year revenue to be driven by growth in all sectors.
AMD’s Recent Developments
On January 19, the company announced the release of the new AMD Radeon PRO W6000 Series graphics lineup for desktop and mobile workstations. The new graphics card delivers quality performance enmeshed with stability and reliability. Further, the card is not only usable by professional users, CAD designers, and engineers but also office knowledge workers.
Conclusion
On Tuesday, the company reported earnings that topped the analyst’s expectations. The anticipation before the release had already made the stock trade heavily in the regular session. But the impressive results caused it to soar high in the after-hours session.
