AMD Reports Third Quarter 2023 Financial Results


(1)The Data Center segment primarily includes server microprocessors (CPUs) and graphics processing units (GPUs), data processing units (DPUs), Field Programmable Gate Arrays (FPGAs) and Adaptive System-on-Chip (SoC) products for data centers.
  
 The Client segment primarily includes CPUs, accelerated processing units that integrate microprocessors and GPUs (APUs), and chipsets for desktop and notebook personal computers.
  
 The Gaming segment primarily includes discrete GPUs, semi-custom SoC products and development services.
  
 The Embedded segment primarily includes embedded CPUs and GPUs, APUs, FPGAs, and Adaptive SoC products.
  
 From time to time, the Company may also sell or license portions of its IP portfolio.
  
 All Other category primarily includes certain expenses and credits that are not allocated to any of the operating segments, such as amortization of acquisition-related intangible asset, employee stock-based compensation expense, acquisition-related and other costs, and licensing gain.


(2) Reconciliation of GAAP Net Income to Adjusted EBITDA


 Three Months Ended Nine Months Ended
 September 30,
2023
 July 1,
2023
 September 24,
2022
 September 30,
2023
 September 24,
2022
GAAP net income$299  $27  $66  $187  $1,299 
Interest expense 26   28   31   79   69 
Other (income) expense, net (59)  (46 )     (22 )     (148 )     24  
Income tax provision (benefit)   (39 )     (23 )     (135 )     (49 )     32  
Equity income in investee   (3 )     (6 )     (4 )     (10 )     (11 )
Stock-based compensation   353       348       269       1,006       702  
Depreciation and amortization   163       156       163       478       450  
Amortization of acquisition-related intangibles   660       693       1,002       2,176       2,504  
Acquisition-related and other costs   39       47       57       201       464  
Adjusted EBITDA $ 1,439     $ 1,224     $ 1,427     $ 3,920     $ 5,533  

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