Advanced Micro Devices (AMD) has recorded a 71 per cent hike in revenue to $5.9 billion in the first quarter of the year.

The results follow what the US semiconductor business described as the “largest acquisition” in the history of the industry, after the company bought technology and semiconductor organisation Xilinx in February.

The income boost was driven by higher revenue in the computing and graphics and enterprise, embedded and semi-custom segments and further bolstered with the inclusion of Xilinx’s revenue.

The revenue was broken down as 48 per cent of gross margin, $951 million of operating income, an operating margin of 16 per cent, $786 million net income, and diluted earnings per share of $0.56.

Gross profit during the quarter was up by 78 per cent to $2.8 billion compared to the same period of 2021.

The Q1 results also include partial quarter financial results from the recently concluded February 14 2022 acquisition of Xilinx. Discounting Xilinx, AMD had record quarterly revenue of $5.3 billion.

“The first quarter marked a significant inflection point in our journey to scale and transform AMD as we delivered record revenue and closed our strategic acquisition of Xilinx,” AMD chair and chief executive, Lisa Su, said.

“Each of our businesses grew by a significant double digit percentage year-over-year, led by EPYC server processor revenue more than doubling for the third straight quarter.

“Demand remains strong for our leadership products, with our increased full-year guidance reflecting higher AMD organic growth and the addition of the growing Xilinx business.”

AMD expects revenue to be approximately $6.5 billion - give or take $200 million - in the second quarter of the year; an increase of approximately 69 per cent year-over-year and 10 per cent quarter-over-quarter.

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