| ADVANCED MICRO DEVICES, INC. | ||||||||
| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||
| (Millions except per share amounts and percentages) (Unaudited) | ||||||||
| Three Months Ended | ||||||||
| April 1,
2023 | March 26,
2022 | |||||||
| Net revenue | $ | 5,353 | $ | 5,887 | ||||
| Cost of sales | 2,689 | 2,883 | ||||||
| Amortization of acquisition-related intangibles | 305 | 186 | ||||||
| Total cost of sales | 2,994 | 3,069 | ||||||
| Gross profit | 2,359 | 2,818 | ||||||
| Gross margin % | 44 | % | 48 | % | ||||
| Research and development | 1,411 | 1,060 | ||||||
| Marketing, general and administrative | 585 | 597 | ||||||
| Amortization of acquisition-related intangibles | 518 | 293 | ||||||
| Licensing gain | (10 | ) | (83 | ) | ||||
| Operating income (loss) | (145 | ) | 951 | |||||
| Interest expense | (25 | ) | (13 | ) | ||||
| Other income (expense), net | 43 | (42 | ) | |||||
| Income (loss) before income taxes and equity income | (127 | ) | 896 | |||||
| Income tax provision | 13 | 113 | ||||||
| Equity income in investee | 1 | 3 | ||||||
| Net income (loss) | $ | (139 | ) | $ | 786 | |||
| Earnings (loss) per share | ||||||||
| Basic | $ | (0.09 | ) | $ | 0.56 | |||
| Diluted | $ | (0.09 | ) | $ | 0.56 | |||
| Shares used in per share calculation | ||||||||
| Basic | 1,611 | 1,393 | ||||||
| Diluted | 1,611 | 1,410 | ||||||
AMD Reports First Quarter 2023 Financial Results
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