Subscription revenue exceeded estimates
Slower hiring and generative AI boosted profits
Pandemic investments causing "temporary" slowdown in new business
Anticipates further losses next quarter
Wider tech is struggling, but cloud keeps growing
Withdrawal from Russia and Belarus has led to losses of nearly €120 million
AMD’s acquisition of Xilinx earlier this year has turned the company into a “data centre powerhouse,” say analysts, and pushed the company to its first $5 billion+ quarter.
But cloud computing business continues to grow strongly