AMD Reports First Quarter 2023 Financial Results
| |
|
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 | |
| | | | | | | | | |
