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ADVANCED MICRO DEVICES, INC.

(AMD)
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ADVANCED MICRO DEVICES INC : Regulation FD Disclosure (form 8-K)

07/27/2021 | 04:42pm EDT

Item 7.01 Regulation FD Disclosure. On July 27, 2021, Advanced Micro Devices, Inc. (the "Company") announced its financial position and results of operations as of and for its second quarter ended June 26, 2021 in a press release that is attached hereto as Exhibit 99.1. Attached hereto as Exhibit 99.2 is a presentation regarding the Company's second quarter 2021.

The Company will hold a conference call on July 27, 2021 at 2:00 p.m. PT (5:00 p.m. ET) to discuss its second quarter 2021 financial results and forward-looking financial guidance.

To supplement the Company's financial results presented on a U.S. Generally Accepted Accounting Principles ("GAAP") basis, the Company's earnings press release and presentation contains non-GAAP financial measures, including non-GAAP gross profit, non-GAAP operating expenses, non-GAAP operating income, non-GAAP net income, non-GAAP earnings per share, Adjusted EBITDA and free cash flow. The Company uses a normalized tax rate in its computation of the non-GAAP income tax provision to provide better consistency across the reporting periods. For fiscal year 2021, the Company uses a projected non-GAAP tax rate of 15%, which excludes the tax impact of pre-tax non-GAAP adjustments, reflecting currently available information. The Company believes this non-GAAP presentation makes it easier for investors to compare its operating results for current and historical periods and also because the Company believes it assists investors in comparing the Company's performance across reporting periods on a consistent basis by excluding items that it does not believe are indicative of its core operating performance. The Company's non-GAAP financial measures should be viewed in addition to and not as a substitute for or superior to the Company's reported results prepared in accordance with GAAP. These non-GAAP financial measures referenced are reconciled to their most directly comparable GAAP financial measures in the data tables at the end of the earnings press release and presentation.

The information in this report furnished pursuant to Items 2.02 and 7.01, including Exhibits 99.1 and 99.2 attached hereto, shall not be deemed "filed" for the purposes of Section 18 of the Securities and Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section. It may only be incorporated by reference in another filing under the Exchange Act or the Securities Act of 1933, as amended, if such subsequent filing specifically references the information furnished pursuant to Items 2.02 and 7.01 of this report.

© Edgar Online, source Glimpses

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Analyst Recommendations on ADVANCED MICRO DEVICES, INC.
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Financials (USD)
Sales 2021 15 582 M - -
Net income 2021 2 795 M - -
Net cash 2021 4 477 M - -
P/E ratio 2021 45,8x
Yield 2021 0,16%
Capitalization 126 B 126 B -
EV / Sales 2021 7,80x
EV / Sales 2022 6,56x
Nbr of Employees 12 600
Free-Float 98,8%
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Mean consensus OUTPERFORM
Number of Analysts 38
Last Close Price 103,88 $
Average target price 112,61 $
Spread / Average Target 8,40%
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Managers and Directors
Lisa T. Su President, CEO & Non-Independent Director
Devinder Kumar Chief Financial Officer, Treasurer & Executive VP
John Edward Caldwell Chairman
Mark D. Papermaster CTO, Executive VP-Technology & Engineering
Keivan Keshvari Senior Vice President-Global Operations
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