AMD Reports Third Quarter 2024 Financial Results


(1) The Data Center segment primarily includes server microprocessors (CPUs), graphics processing units (GPUs), accelerated processing units (APUs), data processing units (DPUs), Field Programmable Gate Arrays (FPGAs), Smart Network Interface Cards (SmartNICs), Artificial Intelligence (AI) accelerators and Adaptive System-on-Chip (SoC) products for data centers.
  The Client segment primarily includes CPUs, APUs, and chipsets for desktop, notebook and handheld personal computers.
  The Gaming segment primarily includes discrete GPUs, and semi-custom SoC products and development services.
  The Embedded segment primarily includes embedded CPUs, GPUs, APUs, FPGAs, System on Modules (SOMs), 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, inventory loss at contract manufacturer, and licensing gain.


(2)  Reconciliation of GAAP Net Income to Adjusted EBITDA


 Three Months Ended Nine Months Ended
(Millions) (Unaudited)September 28,
2024
 June 29,
2024
 September 30,
2023
 September 28,
2024
 September 30,
2023
GAAP net income$771  $265  $299  $1,159  $187 
Interest expense 23   25   26   73   79 
Other (income) expense, net (36)  (55)   (59 )     (144 )     (148 )
Income tax provision (benefit)   (27 )     41       (39 )     (38 )     (49 )
Equity income in investee   (7 )     (7 )     (3 )     (21 )     (10 )
Stock-based compensation   351       346       353       1,068       1,006  
Depreciation and amortization   171       166       163       499       478  
Amortization of acquisition-related intangibles   585       603       660       1,810       2,176  
Inventory loss at contract manufacturer                     65        
Acquisition-related and other costs   56       46       39       141       201  
Adjusted EBITDA $ 1,887     $ 1,430     $ 1,439     $ 4,612     $ 3,920  
 

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