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I am HAPPY with both SoFi & AMD's earnings! (Summary)

July 17, 2023
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SoFi & AMD Earnings overview


SoFi

Key takeaways:

  • Record GAAP and Adjusted Net Revenue for Second Quarter 2022
  • GAAP Net Revenue of $363 Million Up 57% $356 Million 
  • Record Adjusted Net Revenue Up 50% Year-over-Year
  • Adjusted EBITDA of $20 Million Up 81% Year-over-Year
  • New Member Adds of Over 450,000
  • Quarter-End Total Members Up 69% Year-over-Year to Over 4.3 Million
  • New Product Adds of Over 702,000 
  • Quarter-End Total Products Up 79% Year-over-Year to Nearly 6.6 Million
  • Management Raises Full-Year 2022 Guidance

Guidance:

  • Second quarter 2022 adjusted net revenue of $356 million exceeded quarterly guidance of $330-$340 million by 8% at the low end and 5% at the high end. 
  • Adjusted EBITDA of $20 million for the quarter exceeded quarterly guidance of $5 million to $15 million by 35% at the high end.

"We're continuing to ramp new cloud instances ... we see that continuing into the second half of the year.

Management projects that a more significant portion of the second half revenue and EBITDA results will be generated during the fourth quarter.

Management expects full-year 2022 adjusted net revenue of $1.508-1.513 billion (up from $1.505-1.510 billion previously) and full-year adjusted EBITDA of $104-109 million (up from $100-105 million previously).

Anthony Noto, CEO: Our bank charter is enabling new flexibility that has proven even more valuable in light of the current macro environment, and the economic benefits are already starting to materialize and positively impact our operating and financial results.

 

AMD

Key takeaways:

  • EPS: $1.05, adjusted, versus $1.03 expected
  • Revenue: Revenue rose 70% to $6.55 billion, versus $6.53 billion expected

AMD continued to show strong growth in the data center business, taking more market share from Intel

Guidance:

The company expects revenue of $6.7 billion for the current quarter compared to analysts' estimate of $6.82 billion, according to IBES data from Refinitiv.

AMD expanded its full-year forecast to a range of $26 billion to $26.6 billion, compared to about $26.3 billion earlier. Analysts had forecast $26.18 billion.

AMD cut its guidance for personal computer sales.


My final thoughts:

Both AMD & SoFi are large holdings in my personal portfolio. I am happy with both and will continue to hold. AMD will face some challenges with the macro, but all fundamentals are still in tact. SoFis margins are likely to increase with more cross-selling and the banking charter.

I am a happy shareholder.

 


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