― Record quarterly revenue of $4.8B up 49% y/y; Record full year revenue of $16.4B up 68%;
Gross margin expanded and operating income more than doubled from prior year ―
SANTA CLARA, Calif., Feb. 01, 2022 (GLOBE NEWSWIRE) -- AMD (NASDAQ:AMD) today announced revenue for the fourth quarter of 2021 of $4.8 billion, operating income of $1.2 billion, net income of $974 million and diluted earnings per share of $0.80. On a non-GAAP(*) basis, operating income was $1.3 billion, net income was $1.1 billion and diluted earnings per share was $0.92.
For full year 2021, the company reported revenue of $16.4 billion, operating income of $3.6 billion, net income of $3.2 billion and diluted earnings per share of $2.57. On a non-GAAP(*) basis, operating income was $4.1 billion, net income was $3.4 billion and diluted earnings per share was $2.79.
GAAP Quarterly Financial Results
| Q4 2021 | Q4 2020 | Y/Y | Q3 2021 | Q/Q | |
| Revenue ($M) | $4,826 | $3,244 | Up 49% | $4,313 | Up 12% |
| Gross profit ($M) | $2,426 | $1,451 | Up 67% | $2,086 | Up 16% |
| Gross margin % | 50% | 45% | Up 560 bps | 48% | Up 190 bps |
| Operating expenses ($M) | $1,223 | $881 | Up 39% | $1,141 | Up 7% |
| Operating income ($M) | $1,207 | $570 | Up 112% | 948 | Up 27% |
| Operating margin % | 25% | 18% | Up 7pp | 22% | Up 3pp |
| Tax valuation allowance release benefit ($M) ( 1) | - | $1,301 | - | - | - |
| Net income ($M) | $974 | $1,781 | Down 45% | $923 | Up 6% |
| Earnings per share ( 1) | $0.80 | $1.45 | Down 45% | $0.75 | Up 7% |
Non-GAAP <
