AMD’s outlook statements are based on current expectations. The following statements are forward-looking and actual results could differ materially depending on market conditions and the factors set forth under “Cautionary Statement” below.
For the second quarter of 2023, AMD expects revenue to be approximately $5.3 billion, plus or minus $300 million. AMD expects non-GAAP gross margin to be approximately 50%.
AMD Teleconference
AMD will hold a conference call for the financial community at 2:00 p.m. PT (5:00 p.m. ET) today to discuss its first quarter 2023 financial results. AMD will provide a real-time audio broadcast of the teleconference on the
Investor Relations page of its website at
www.amd.com.
|
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
| ||||||||
| (in millions, except per share data) (Unaudited) | ||||||||
| Three Months Ended | ||||||||
|
April 1,
2023 |
March 26,
2022 | |||||||
| GAAP gross profit | $ | 2,359 | $ | 2,818 | ||||
| GAAP gross margin % | 44 | % | 48 | % | ||||
| Stock-based compensation | 8 | 4 | ||||||
| Acquisition-related costs (1) | 3 | 92 | ||||||
| Amortization of acquired intangible assets | 305 | 186 | ||||||
| Non-GAAP gross profit | $ | 2,675 | $ | 3,100 | ||||
| Non-GAAP gross margin % | 50 | % | 53 | % | ||||
| GAAP operating expenses | $ | 2,514 | $ | 1,950 | ||||
| GAAP operating expenses/revenue % | 47 | % | 33 | % | ||||
| Stock-based compensation | 297 | 170 | ||||||
| Acquisition-related costs (1) | 112 | 141 | ||||||
| Amortization of acquired intangible assets | 518 | 293 | ||||||
| Non-GAAP operating expenses | $ | 1,587 | $ | 1,346 | ||||
| Non-GAAP operating expenses/revenue % | 30 | % | 23 | % | ||||
| GAAP operating income (loss) | $ | (145 | ) | $ | 951 | |||
| GAAP operating margin % | (3) | % | 16 | % | ||||
| Stock-based compensation | 305 | 174 | ||||||
| Acquisition-related costs (1) | 115 | 233 | ||||||
| Amortization of acquired intangible assets | 823 | 479 | ||||||
| Non-GAAP operating income | $ | 1,098 | $ | 1,837 | ||||
| Non-GAAP operating margin % | 21 | % | 31 | % | ||||
