Advanced Micro Devices
Q3 2022 Earnings Call
Nov 01, 2022, 5:00 p.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Hello, and welcome to the AMD third quarter 2022 earnings call. At this time, all participants are in a listen-only mode. [Operator instructions] A question-and-answer session will follow the formal presentation. As a reminder, this conference is being recorded.
It's now my pleasure to turn the call over to Ruth Cotter. Please go ahead, Ruth.
Ruth Cotter -- Senior Vice President, Worldwide Marketing, Human Resources, and Investor Relations
Thank you, and welcome to AMD's third quarter 2022 financial results conference call. By now, you should have had the opportunity to review a copy of our earnings press release and accompanying slideware. If you do not receive these documents, they can be found on the Investor Relations page of amd.com. We will refer primarily to non-GAAP financial measures during this call.
The full non-GAAP to GAAP reconciliations are available in today's press release and slides, which are posted on amd.com as mentioned. Participants on today's conference call are Dr. Lisa Su, our chair and chief executive officer; and Devinder Kumar, our executive vice president and chief financial officer and treasurer. This is a live call and will be replayed via webcast on our website.
Before we begin today, I would like to note that Mark Papermaster, chief technology officer and executive vice president, technology and engineering, will attend the Wells Fargo Technology, Media, and Telecommunications Summit on Wednesday, November 30. And our fourth-quarter quiet time is expected to begin at the close of business on Friday, December 16. Today's discussion contains forward-looking statements based on current beliefs, assumptions, and expectations, speak only as of today, and as such, involve risks and uncertainties that could cause actual results to differ materially from our current expectations. Please refer to the cautionary statement in our press release for more information on the factors that could cause actual results to differ materially.
Now with that, I'd like to hand the call over to Lisa. Lisa?
Lisa Su -- President and Chief Executive Officer
Thank you, Ruth, and good afternoon to all those listening in today. Our third-quarter revenue and gross margin came in below our expectations due to softening PC demand and substantial inventory reduction actions across the PC supply chain. Despite the macro backdrop, overall revenue grew 29% year over year to $5.6 billion as our Data Center, Gaming and Embedded segments each delivered significant year-over-year growth and performed in line with our expectations. We also expanded gross margin and grew net income year over year, highlighting the strength of our business.