Advanced Micro Devices, Inc. (NASDAQ: AMD) rises around four percent, to around $10.60 a share. Their quarterly report, released May 1, shows an 18% year-over-year increase to $984 million. Riding on the sales of their newly released Ryzen processors, AMD was able to shrink their operating loss and net loss gap to $29 million from $68 million and $73 million from $109 million respectively.
Highlighting the success of this quarter, AMD’s president and CEO says, "We achieved 18 percent year-over-year revenue growth driven by strong demand for our high performance Ryzen CPUs as well as graphics processors. We are positioned for solid revenue growth and margin expansion opportunities across the business in the year ahead as we bring innovation, performance, and choice to an expanding set of markets."
This innovation includes new releases of various types. One new product, to be released in Q2 of this year, is their new CPU dubbed “Naples,” which, overall, generates more of everything, including its cloud capabilities via a partnership with Microsoft. Another product, targeted to release along with Naples, is their “Vega” GPU.