AMD Reports Second Quarter 2022 Financial Results

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 the third quarter of 2022, AMD expects revenue to be approximately $6.7 billion, plus or minus $200 million, an increase of approximately 55% year-over-year led by growth in the Data Center and Embedded segments. AMD expects non-GAAP gross margin to be approximately 54% in the third quarter of 2022.

For the full year 2022, AMD continues to expect revenue to be approximately $26.3 billion, plus or minus $300 million, an increase of approximately 60% over 2021 led by growth in the Data Center and Embedded segments. AMD continues to expect non-GAAP gross margin to be approximately 54% for 2022.

AMD Teleconference

AMD will hold a conference call for the financial community at 2:00 p.m. PT (5:00 p.m. ET) today to discuss its second quarter 2022 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.


RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(in millions, except per share data) (Unaudited)  
   Three Months Ended
   June 25,
2022
  June 26,
2021
 
GAAP gross profit  $ 3,028   $ 1,830  
GAAP gross margin %   46 %   48 % 
Stock-based compensation  8   2  
Acquisition-related costs (1)  95     
Amortization of acquired intangible assets  407     
Non-GAAP gross profit  $ 3,538   $ 1,832  
Non-GAAP gross margin %     54 %     48 %  
           
GAAP operating expenses   $ 2,508     $ 1,000    
GAAP operating expenses/revenue %     38 %     26 %  
Stock-based compensation     251       81    
Acquisition-related costs (1)     79       10    
Amortization of acquired intangible assets     616          
Non-GAAP operating expenses   $ 1,562     $ 909    
Non-GAAP operating expenses/revenue %     24 %     24 %  
           
GAAP operating income   $ 526     $ 831    
GAAP operating margin %     8 %     22 %  
Stock-based compensation     259       83    
Acquisition-related costs (1)     174       10    
Amortization of acquired intangible assets     1,023          
Non-GAAP operating income   $ 1,982     $ 924    
Non-GAAP operating margin %     30 %     24 %  

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