AMD stock rose more than 8% in after-hours trading on February 1, 2022, after the company reported awesome EPS and revenue beats.
AMD Reports Fourth Quarter and Full Year 2021 Financial Results
Record quarterly revenue of $4.8B up 49% y/y; Record full year revenue of $16.4B up 68%. Gross margin expanded and operating income more than doubled from the prior year.
AMD (NASDAQ:AMD) today announced revenue for the fourth quarter of 2021 of $4.8 billion, operating income of $1.2 billion, net income of $974 million and diluted earnings per share of $0.80. AMD reported Q4 EPS of 92c versus the consensus estimate of 76c. The company reported Q4 revenue of $4.83B versus the consensus estimate of $4.52B.
For full year 2021, the company reported revenue of $16.4 billion, operating income of $3.6 billion, net income of $3.2 billion and diluted earnings per share of $2.57. On a non-GAAP(*) basis, operating income was $4.1 billion, net income was $3.4 billion and diluted earnings per share was $2.79.
“2021 was an outstanding year for AMD with record annual revenue and profitability,” said AMD president and CEO Lisa Su. “Each of our businesses performed extremely well, with data center revenue doubling year-over-year driven by growing adoption of AMD EPYC processors across cloud and enterprise customers. We expect another year of significant growth in 2022 as we ramp our current portfolio and launch our next generation of PC, gaming and data center products.”
AMD forecasts FY22 revenue of $21.5B versus the consensus estimate of $19.27B.
The company said, “For the full year 2022, AMD expects revenue to be approximately $21.5 billion, an increase of approximately 31 percent over 2021 driven by growth across all businesses. AMD expects non-GAAP gross margin to be approximately 51 percent for 2022.”
📺 Advanced Micro Devices (AMD) & Alphabet (GOOGL) Stocks
📉 AMD Stock Technical Analysis
The short term trend is negative, as is the long term trend. AMD is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so AMD is lagging the market slightly. AMD is part of the Semiconductors & Semiconductor Equipment industry. There are 107 other stocks in this industry, AMD did better than 64% of them.
There is support at 105.24 from a horizontal line in the weekly time frame. There is support at 102.60 from a horizontal line in the daily time frame. There is also support at 96.74 from a trend line in the weekly time frame. Finally, there is support at 74.93 from a horizontal line in the weekly time frame.
There is resistance at 144.82 from a trend line in the daily time frame.
The technical rating of AMD is bad and it also does not present a quality setup at the moment. AMD stock has a Setup Rating of 3 out of 10. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first. Click here to sign up for email alerts on when AMD stock consolidates and has a Setup Rating of 8 or higher.