AMD's outlook statements are based on current expectations. The following statements are forward-looking, and actual results could differ materially depending on market conditions and the factors set forth under "Cautionary Statement" below.
For Q2 2016, AMD expects revenue to increase 15 percent, plus or minus 3 percent, sequentially.
For additional details regarding AMD's results and outlook please see the CFO commentary posted at quarterlyearnings.amd.com.
AMD Teleconference
AMD will hold a conference call for the financial community at 2:00 p.m. PDT (5:00 p.m. EDT) today to discuss its first quarter financial results. AMD will provide a real-time audio broadcast of the teleconference on the Investor Relations page of its website at www.amd.com. The webcast will be available for 12 months after the conference call.
Reconciliation of GAAP to Non-GAAP Gross Margin
---------------------------------
(Millions except percentages) Q1-16 Q4-15 Q1-15
----------------------------------------------------------------------------
GAAP Gross Margin $ 269 $ 283 $ 326
----------------------------------------------------------------------------
GAAP Gross Margin % 32% 30% 32%
----------------------------------------------------------------------------
Stock-based compensation 1 1 1
----------------------------------------------------------------------------
Non-GAAP Gross Margin $ 270 $ 284 $ 327
----------------------------------------------------------------------------
Non-GAAP Gross Margin % 32% 30% 32%
----------------------------------------------------------------------------
Reconciliation of GAAP to Non-GAAP Operating Income (Loss)
---------------------------------
(Millions) Q1-16 Q4-15 Q1-15
----------------------------------------------------------------------------
GAAP operating loss $ (68) $ (49) $ (137)
----------------------------------------------------------------------------
Restructuring and other special charges,
net (3) (6) 87
----------------------------------------------------------------------------
Amortization of acquired intangible
assets - - 3
----------------------------------------------------------------------------
Stock-based compensation 16 16 17
----------------------------------------------------------------------------
Non-GAAP operating loss $ (55) $ (39) $ (30)
----------------------------------------------------------------------------
Reconciliation of GAAP to Non-GAAP Net Income (Loss) /Earnings (Loss) per Share
------------------------------------------------
(Millions except per share
amounts) Q1-16 Q4-15 Q1-15
----------------------------------------------------------------------------
GAAP net loss /loss per
share $ (109) $(0.14) $ (102) $(0.13) $ (180) $(0.23)
----------------------------------------------------------------------------
Restructuring and other
special charges, net (3) - (6) (0.01) 87 0.11
----------------------------------------------------------------------------
Tax settlement in foreign
jurisdiction - - 13 0.02 - -
----------------------------------------------------------------------------
Amortization of acquired
intangible assets - - - - 3 0.00
----------------------------------------------------------------------------
Stock-based compensation 16 0.02 16 0.02 17 0.02
----------------------------------------------------------------------------
Non-GAAP net loss / loss per
share $ (96) $(0.12) $ (79) $(0.10) $ (73) $(0.09)
----------------------------------------------------------------------------
