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ADVANCED MICRO DEVICES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Millions except per share amounts and percentages) (Unaudited) | ||||||||||||||||||||
| Three Months Ended | Six Months Ended | |||||||||||||||||||
| July 1,
2023 | April 1,
2023 | June 25,
2022 | July 1,
2023 | June 25,
2022 | ||||||||||||||||
| Net revenue | $ | 5,359 | $ | 5,353 | $ | 6,550 | $ | 10,712 | $ | 12,437 | ||||||||||
| Cost of sales | 2,704 | 2,689 | 3,115 | 5,393 | 5,998 | |||||||||||||||
| Amortization of acquisition-related intangibles | 212 | 305 | 407 | 517 | 593 | |||||||||||||||
| Total cost of sales | 2,916 | 2,994 | 3,522 | 5,910 | 6,591 | |||||||||||||||
| Gross profit | 2,443 | 2,359 | 3,028 | 4,802 | 5,846 | |||||||||||||||
| Gross margin | 46 | % | 44 | % | 46 | % | 45 | % | 47 | % | ||||||||||
| Research and development | 1,443 | 1,411 | 1,300 | 2,854 | 2,360 | |||||||||||||||
| Marketing, general and administrative | 547 | 585 | 592 | 1,132 | 1,189 | |||||||||||||||
| Amortization of acquisition-related intangibles | 481 | 518 | 616 | 999 | 909 | |||||||||||||||
| Licensing gain | (8 | ) | (10 | ) | (6 | ) | (18 | ) | (89 | ) | ||||||||||
| Operating income (loss) | (20 | ) | (145 | ) | 526 | (165 | ) | 1,477 | ||||||||||||
| Interest expense | (28 | ) | (25 | ) | (25 | ) | (53 | ) | (38 | ) | ||||||||||
| Other income (expense), net | 46 | 43 | (4 | ) | 89 | (46 | ) | |||||||||||||
| Income (loss) before income taxes and equity income | (2 | ) | (127 | ) | 497 | (129 | ) | 1,393 | ||||||||||||
| Income tax provision (benefit) | (23 | ) | 13 | 54 | (10 | ) | 167 | |||||||||||||
| Equity income in investee | 6 | 1 | 4 | 7 | 7 | |||||||||||||||
| Net income (loss) | $ | 27 | $ | (139 | ) | $ | 447 | $ | (112 | ) | $ | 1,233 | ||||||||
| Earnings (loss) per share | ||||||||||||||||||||
| Basic | $ | 0.02 | $ | (0.09 | ) | $ | 0.28 | $ | (0.07 | ) | $ | 0.82 | ||||||||
| Diluted | $ | 0.02 | $ | (0.09 | ) | $ | 0.27 | $ | (0.07 | ) | $ | 0.81 | ||||||||
| Shares used in per share calculation | ||||||||||||||||||||
| Basic | 1,612 | 1,611 | 1,618 | 1,612 | 1,506 | |||||||||||||||
| Diluted | 1,627 | 1,611 | 1,632 | 1,612 | 1,521 | |||||||||||||||
AMD Reports Second Quarter 2023 Financial Results
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