GAAP Financial Results
Q4-16 Q3-16 Q4-15 2016 2015
---------- ---------- ---------- ---------- ----------
Revenue $1.11B $1.31B $958M $4.27B $3.99B
Operating loss $(3)M $(293)M $(49)M $(372)M $(481)M
Net loss $(51)M $(406)M $(102)M $(497)M $(660)M
Loss per share $(0.06) $(0.50) $(0.13) $(0.60) $(0.84)
Non-GAAP Financial Results(1)
Q4-16 Q3-16 Q4-15 2016 2015
---------- ---------- ---------- ---------- ----------
Revenue $1.11B $1.31B $958M $4.27B $3.99B
Operating income
(loss) $26M $70M $(39)M $44M $(253)M
Net income (loss) $(8)M $27M $(79)M $(117)M $(419)M
Earnings (loss) per
share $(0.01) $0.03 $(0.10) $(0.14) $(0.54)
"We met our strategic objectives in 2016, successfully executing our product roadmaps, regaining share in key markets, strengthening our financial foundation, and delivering annual revenue growth," said Dr. Lisa Su, AMD president and CEO. "As we enter 2017, we are well positioned and on-track to deliver our strongest set of high-performance computing and graphics products in more than a decade."
- Q4 2016 Results
- Q4 2016 was a 14-week fiscal quarter compared to 13-week fiscal quarters for Q3 2016 and Q4 2015.
- Revenue of $1.11 billion was up 15 percent year-over-year, primarily due to higher GPU sales. Revenue was down 15 percent sequentially, primarily driven by seasonally lower sales of semi-custom SoCs.
- On a GAAP basis, gross margin was 32 percent, up 2 percentage points year-over-year and up 27 percentage points sequentially as Q3 2016 gross margin was negatively impacted by a $340 million charge (WSA charge) related to the sixth amendment of the wafer supply agreement with GLOBALFOUNDRIES. Operating loss was $3 million compared to an operating loss of $49 million a year ago and an operating loss of $293 million in the prior quarter. The year-over-year improvement was primarily due to higher revenue and IP monetization licensing gain while the sequential improvement is primarily due to the absence of the WSA charge offset by lower fourth quarter revenue. Net loss was $51 million compared to a net loss of $102 million a year ago and net loss of $406 million in the prior quarter. Loss per share was $0.06 compared to a loss per share of $0.13 a year ago and loss per share of $0.50 in the prior quarter.
- On a non-GAAP(1) basis, gross margin was 32 percent, up 2 percentage points year-over-year and up 1 percentage point sequentially primarily due to higher Computing and Graphics segment revenue. Operating income was $26 million compared to an operating loss of $39 million a year ago and operating income of $70 million in the prior quarter. Operating income was lower in the current quarter due to lower revenue. Net loss was $8 million compared to net loss of $79 million a year ago and net income of $27 million in the prior quarter. Loss per share was $0.01 compared to a loss per share of $0.10 a year ago and earnings per share of $0.03 in the prior quarter.
- Cash and cash equivalents were $1.26 billion at the end of the quarter, up $6 million from the end of the prior quarter.
