AMD’s 2024 revenue rose 13.7% to $25.79 billion as Gaming segment sales fell 58.2%

Written by Claude Sonnet 5.5, an AI model, from public records. Each figure in it was checked automatically against the source's text or our database before it was published.

AMD said in its annual report to the US Securities and Exchange Commission, a Form 10-K filed on Feb 5, 2025, that revenue for the year to Dec 28, 2024 was $25.79 billion, up 13.7% from $22.68 billion a year earlier. Under US accounting rules (GAAP), operating income rose to $1.9 billion from $401 million and net income to $1.64 billion from $854 million, while diluted earnings per share were $1.00, against $0.53.1^,2^,3^,4^,5^,6^,7^,8^,9^,10^,11^,12^,13^,14

Gaming, which AMD described as primarily discrete graphics chips and semi-custom system-on-chip products and development services, brought in $2.6 billion, down 58.2% from $6.21 billion in 2023. AMD said the drop was primarily due to lower semi-custom product revenue, and that Gaming operating income fell to $290 million from $971 million. It also said it had extended its multigenerational partnership with Sony as Sony introduced the PlayStation 5 Pro, which featured a new AMD semi-custom chip. AMD’s earnings release, filed on Feb 4, 2025, puts Gaming revenue in the fourth quarter alone at $563 million, down 59% year over year, again primarily because of lower semi-custom revenue.15^,16^,17^,18^,19^,20^,21^,22^,23

Data Center revenue grew 93.6% to $12.58 billion from $6.5 billion, which AMD tied primarily to higher sales of its Instinct GPUs and EPYC CPUs. Client revenue grew 51.7% to $7.05 billion from $4.65 billion, while Embedded revenue fell 33.2% to $3.56 billion from $5.32 billion.24^,25^,26^,27^,28^,29^,30^,31^,32^,33

AMD’s own non-GAAP net income, a measure the company defines, was $5.42 billion for the year, after adding back items that include $2.39 billion of amortization of acquisition-related intangibles and $1.41 billion of stock-based compensation. AMD also recognized $186 million of restructuring charges in 2024, for a plan that its notes said would primarily reduce its global workforce by approximately 4% of headcount.34^,35^,36^,37^,38

AMD’s revenue was $16.43 billion in 2021, $23.6 billion in 2022 and $22.68 billion in 2023.39^,40^,41

Our records hold the 10-K’s management discussion and its notes, and we do not hold the filing’s other exhibits. Our records keep one value for each period of a company that files with the SEC, so they cannot tell whether the year-earlier figures here were restated.42^,43