California semiconductor company Advanced Micro Devices ( AMD) Inc reported impressive financial results through the fourth quarter of 2020. Backed by the very high performance of its gaming console products such as the PlayStation and Xbox, as well as powerful PCs and processors, the company saw a huge return on its investment last year. 
The annualized earnings posted by the company showed that it was able to surpass its annualized figures for each quarter of 2020. The numbers are truly impressive for an American chipmaker and point to great prospects.
According to the financial report, Q2020 3,2 revenues were $ 53 billion, up about 2,1% from the $ 170 billion realized in the third quarter. Earnings also reflected a whopping rise from $ 1,78 million in the third quarter to $ 948 billion in the fourth quarter, up 2020%. Thus, the company's earnings data suggests that it was able to increase its profit to $ XNUMX billion from October to December XNUMX.
Compared to the company's overall results in the previous year, its revenue grew 45% from $ 6,7 billion in 2019 to $ 9,76 billion in 2020, i.e. the difference is over USD 3 billion. Annual profits also grew 630% from $ 341 million in 2019 to $ 2,49 billion in 2020.
It should be noted that earnings, according to the company, included a $ 1,30 billion income tax exemption in the fourth quarter, related to what it called the valuation reserve exemption.
These new revenue and earnings figures are, according to AMD, a new record, well above corporate expectations for the company, which was slightly less optimistic due to the weakening demand from the coronavirus pandemic.
It should be noted that the company has several business challenges beyond consumer-grade chip manufacturing, although more than 50% of its fourth-quarter revenue came from the compute and graphics industry segments. The strong fourth quarter revenue was driven by the sale of powerful Ryzen processors.
However, the company continues to struggle to meet demand for some of its premium products, such as the new Radeon 6000 cards as well as the Radeon HD 7970, which have been experiencing some form of shortage.
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