AMD Issues Early Q3’22 Financial Results: Misses Guidance By $1B as Client Revenue Craters

Underscoring a difficult second half of the year that seems to be shaping up for the entire tech industry, AMD this afternoon has become the latest tech company to warn investors that revenues for the quarter are going to come in significantly under previous guidance. Releasing a preliminary third quarter financial results statement, AMD is reporting that revenues for the quarter will come in at around $5.6 billion, which is over $1 billion below AMD's previous guidance of $6.7 billion. Driving this unexpected drop in revenues is an exceptionally weak client market, with revenues down 40% versus Q3'21 and resulting in what's traditionally AMD's largest market segment by revenue becoming their smallest.