US Stock Market Move | Q2 performance guidance strong: American company AMD.US opens at nearly 20% increase

On Wednesday, AMD.US opened with a nearly 20% surge, marking the largest increase since October last year and continuing to set new historical highs. On the news front, AMD announced better-than-expected first-quarter performance and provided strong performance guidance. According to the financial report, AMD's first-quarter revenue increased by 38% year-on-year to $10.3 billion, beating analysts' average expectations of $9.89 billion. Under Non-GAAP accounting standards, operating profit was $2.54 billion, a 43% year-on-year increase; net profit was $2.265 billion, a 45% year-on-year increase. Adjusted earnings per share were $1.37, higher than analysts' average expectations of $1.28. AMD expects second-quarter revenue to be $11.2 billion, surpassing analysts' average expectations of $10.5 billion. This optimistic outlook indicates that the company is winning orders from the biggest spenders in the artificial intelligence computing field. AMD Chairman and CEO Lisa Su said, "Our first-quarter performance was excellent, largely driven by the accelerated growth in demand for artificial intelligence infrastructure, with our data center business now becoming the main driver of our revenue and profit growth. As the development of inference and intelligent edge artificial intelligence continues, the demand for high-performance CPUs and accelerators is constantly growing, and we see strong growth momentum. Looking ahead, as we expand supply to meet demand, we expect significant acceleration in the growth of our server business. Customer engagement with the MI450 series and Helios is increasing, and the forecasts of major customers exceed our initial expectations, with continuously growing large-scale deployment projects giving us a clearer understanding of the future growth trajectory."