Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nasdaq  >  Advanced Micro Devices, Inc.    AMD

ADVANCED MICRO DEVICES, INC.

(AMD)
  Report
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Advanced Micro Devices : Financial Tables Q3 2020

10/27/2020 | 10:10am EST

ADVANCED MICRO DEVICES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Millions except per share amounts and percentages) (Unaudited)

Three Months Ended

Nine Months Ended

September 26,

June 27,

September 28,

September 26,

September 28,

2020

2020

2019

2020

2019

Net revenue

$

2,801

$

1,932

$

1,801

$

6,519

$

4,604

Cost of sales

1,571

1,084

1,024

3,623

2,685

Gross profit

1,230

848

777

2,896

1,919

Gross margin %

44%

44%

43%

44%

42%

Research and development

508

460

406

1,410

1,152

Marketing, general and administrative

273

215

185

687

544

Licensing gain

-

-

-

-

(60)

Operating income

449

173

186

799

283

Interest expense

(11)

(14)

(24)

(38)

(76)

Other income (expense), net

(37)

1

(36)

(32)

(40)

Income before income taxes and equity income

401

160

126

729

167

Income tax provision (benefit)

12

4

7

22

(4)

Equity income in investee

1

1

1

2

-

Net Income

$

390

$

157

$

120

$

709

$

171

Earnings per share

Basic

$

0.33

$

0.13

$

0.11

$

0.60

$

0.16

Diluted

$

0.32

$

0.13

$

0.11

$

0.59

$

0.15

Shares used in per share calculation

Basic

1,184

1,174

1,097

1,176

1,075

Diluted

1,215

1,227

1,117

1,208

1,107

ADVANCED MICRO DEVICES, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS (Millions)

September 26,

December 28,

2020

2019

(Unaudited)

Assets

Current assets:

Cash and cash equivalents

$

1,296

$

1,466

Short-term investments

475

37

Accounts receivable, net

2,134

1,859

Inventories

1,292

982

Receivables from related parties

4

20

Prepaid expenses and other current assets

299

233

Total current assets

5,500

4,597

Property and equipment, net

595

500

Operating lease right-of use assets

215

205

Goodwill

289

289

Investment: equity method

60

58

Other non-current assets

364

379

Total Assets

$

7,023

$

6,028

Liabilities and Stockholders' Equity

Current liabilities:

Accounts payable

$

752

$

988

Payables to related parties

115

213

Accrued liabilities

1,478

1,084

Other current liabilities

72

74

Total current liabilities

2,417

2,359

Long-term debt, net

373

486

Long-term operating lease liabilities

205

199

Other long-term liabilities

161

157

Stockholders' equity:

Capital stock:

Common stock, par value

12

12

Additional paid-in capital

10,362

9,963

Treasury stock, at cost

(126)

(53)

Accumulated deficit

(6,386)

(7,095)

Accumulated other comprehensive income

5

-

Total stockholders' equity

$

3,867

$

2,827

Total Liabilities and Stockholders' Equity

$

7,023

$

6,028

ADVANCED MICRO DEVICES, INC. SELECTED CASH FLOW INFORMATION (Millions) (Unaudited)

Three Months Ended

Nine Months Ended

September 26,

June 27,

September 28,

September 26,

September 28,

2020

2020

2019

2020

2019

Net cash provided by (used in)

Operating activities

$

339

$

243

$

234

$

517

$

51

Investing activities

$

(549)

$

(36)

$

57

$

(658)

$

(123)

Financing activities

$

(269)

$

238

$

(98)

$

(29)

$

150

ADVANCED MICRO DEVICES, INC. SELECTED CORPORATE DATA (Millions) (Unaudited)

Three Months Ended

Nine Months Ended

Segment and Category Information

September 26,

June 27,

September 28,

September 26,

September 28,

2020

2020

2019

2020

2019

Computing and Graphics (1)

Net revenue

$

1,667

$

1,367

$

1,276

$

4,472

$

3,047

Operating income

$

384

$

200

$

179

$

846

$

217

Enterprise, Embedded and Semi-Custom(2)

Net revenue

$

1,134

$

565

$

525

$

2,047

$

1,557

Operating income

$

141

$

33

$

61

$

148

$

218

All Other (3)

Net revenue

$

-

$

-

$

-

$

-

$

-

Operating loss

$

(76)

$

(60)

$

(54)

$

(195)

$

(152)

Total

Net revenue

$

2,801

$

1,932

$

1,801

$

6,519

$

4,604

Operating income

$

449

$

173

$

186

$

799

$

283

Other Data

Capital expenditures

$

74

$

91

$

55

$

220

$

175

Adjusted EBITDA (4)

$

607

$

305

$

300

$

1,216

$

593

Cash, cash equivalents and short-term investments

$

1,771

$

1,775

$

1,209

$

1,771

$

1,209

Free cash flow (5)

$

265

$

152

$

179

$

297

$

(124)

Total assets

$

7,023

$

6,583

$

5,253

$

7,023

$

5,253

Total debt

$

373

$

690

$

872

$

373

$

872

See footnotes on the next page

  1. The Computing and Graphics segment, which primarily includes desktop and notebook processors and chipsets, discrete and integrated graphics processing units (GPUs), data center and professional GPUs and development services. From time to time, the Company may also sell or license portions of its IP portfolio.
  2. The Enterprise, Embedded and Semi-Custom segment, which primarily includes server and embedded processors, semi-customSystem-on-Chip (SoC) products, development services and technology for game consoles. From time to time, the Company may also sell or license portions of its IP portfolio.
  3. All Other category primarily includes certain expenses and credits that are not allocated to any of the operating segments. Also included in this category is stock-based compensation expense.
  4. Reconciliation of GAAP Net Income to Adjusted EBITDA*

Three Months Ended

Nine Months Ended

September 26,

June 27,

September 28,

September 26,

September 28,

GAAP net income

2020

2020

2019

2020

2019

$

390

$

157

$

120

$

709

$

171

Interest expense

11

14

24

38

76

Other (income) expense, net

37

(1)

36

32

40

Income tax provision (benefit)

12

4

7

22

(4)

Equity income in investee

(1)

(1)

(1)

(2)

-

Stock-based compensation

76

60

54

195

140

Depreciation and amortization

82

72

60

222

158

Loss contingency on legal matter

-

-

-

-

12

Adjusted EBITDA

$

607

$

305

$

300

$

1,216

$

593

(5) Free Cash Flow Reconciliation**

Three Months Ended

Nine Months Ended

September 26,

June 27,

September 28,

September 26,

September 28,

GAAP net cash provided by operating activities

2020

2020

2019

2020

2019

$

339

$

243

$

234

$

517

$

51

Purchases of property and equipment

(74)

(91)

(55)

(220)

(175)

Free cash flow

$

265

$

152

$

179

$

297

$

(124)

  • The Company presents "Adjusted EBITDA" as a supplemental measure of its performance. Adjusted EBITDA for the Company is determined by adjusting GAAP net income for interest expense, other income (expense), net, income tax provision (benefit), equity income on investee, stock-based compensation, and depreciation and amortization expense. The Company also included a loss contingency on legal matter in the nine months ended September 28, 2019. The Company calculates and presents Adjusted EBITDA because management believes it is of importance to investors and lenders in relation to its overall capital structure and its ability to borrow additional funds. In addition, the Company presents Adjusted EBITDA because it believes this measure assists investors in comparing its performance across reporting periods on a consistent basis by excluding items that the Company does not believe are indicative of its core operating performance. The Company's calculation of Adjusted EBITDA may or may not be consistent with the calculation of this measure by other companies in the same industry. Investors should not view Adjusted EBITDA as an alternative to the GAAP operating measure of income or GAAP liquidity measures of cash flows from operating, investing and financing activities. In addition, Adjusted EBITDA does not take into account changes in certain assets and liabilities that can affect cash flows.
  • The Company also presents free cash flow as a supplemental Non-GAAP measure of its performance. Free cash flow is determined by adjusting GAAP net cash provided by operating activities for capital expenditures. The Company calculates and communicates free cash flow in the financial earnings press release because management believes it is of importance to investors to understand the nature of these cash flows. The Company's calculation of free cash flow may or may not be consistent with the calculation of this measure by other companies in the same industry. Investors should not view free cash flow as an alternative to GAAP liquidity measures of cash flows from operating activities.
    The Company has provided reconciliations within the earnings press release of these Non-GAAP financial measures to the most directly comparable GAAP financial measures.

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

(In millions, except per share data) (Unaudited)

Three Months Ended

September 26,

June 27,

September 28,

GAAP gross profit

2020

2020

2019

$

1,230

$

848

$

777

GAAP gross margin %

44%

44%

43%

Stock-based compensation

1

2

2

Non-GAAP gross profit

$

1,231

$

850

$

779

Non-GAAP gross margin %

44%

44%

43%

GAAP operating expenses

$

781

$

675

$

591

GAAP operating expenses/revenue %

28%

35%

33%

Stock-based compensation

75

58

52

Non-GAAP operating expenses

$

706

$

617

$

539

Non-GAAP operating expenses/revenue%

25%

32%

30%

GAAP operating income

$

449

$

173

$

186

GAAP operating margin %

16%

9%

10%

Stock-based compensation

76

60

54

Non-GAAP operating income

$

525

$

233

$

240

Non-GAAP operating margin %

19%

12%

13%

Three Months Ended

September 26,

June 27,

September 28,

2020

2020

2019

GAAP net income / earnings per share

$

390

$

0.32

$

157

$

0.13

$

120

$

0.11

Loss on debt redemption/conversion

38

0.03

-

-

40

0.03

Non-cash interest expense related to convertible debt

2

-

2

-

6

-

Stock-based compensation

76

0.06

60

0.05

54

0.04

Equity income in investee

(1)

-

(1)

-

(1)

-

Income tax provision

(4)

-

(2)

-

-

-

Non-GAAP net income / earnings per share

$

501

$

0.41

$

216

$

0.18

$

219

$

0.18

Shares used and net income adjustment in

earnings per share calculation (1)

Shares used in per share calculation (GAAP)

1,215

1,227

1,117

Interest expense add-back to GAAP net income

$

1

$

3

$

-

Shares used in per share calculation (Non-GAAP)

1,230

1,227

1,212

Interest expense add-back to Non-GAAP net income

$

1

$

1

$

4

  1. For the three months ended September 26, 2020 and June 27, 2020, GAAP diluted EPS calculations include 11 million and 31 million shares, respectively, related to the assumed conversion of the Company's 2026 Convertible Notes and the associated $1 million and $3 million interest expense, respectively, add-back to net income under the "if converted" method. For the three months ended September 26, 2020, 15 million shares related to the assumed conversion of the Company's 2026 Convertible Notes were not included in the GAAP diluted EPS calculations as their inclusion would have been anti-dilutive.
    For the three months ended September 28, 2019, 95 million shares related to the assumed conversion of the Company's 2026 Convertible Notes were not included in the GAAP diluted EPS calculations as their inclusion would have been anti-dilutive.
    For the three months ended September 26, 2020, June 27, 2020 and September 28, 2019, Non-GAAP diluted EPS calculations include 26 million, 31 million and 95 million shares, respectively, related to the assumed conversion of the Company's 2026 Convertible Notes and the associated $1 million, $1 million and $4 million interest expense, respectively, add-back to net income under the "if converted" method

Disclaimer

AMD - Advanced Micro Devices Inc. published this content on 27 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 October 2020 15:09:01 UTC


© Publicnow 2020
All news about ADVANCED MICRO DEVICES, INC.
11/19Nvidia to Bring 'Fortnite' Back to iPhones Amid Epic's App Store Fight
DJ
11/18Nvidia Benefits from Sustained Pandemic-Era Remote Work, Videogaming Demand -..
DJ
11/18Nvidia Benefits from Sustained Pandemic-Era Remote Work, Videogaming Demand -..
DJ
11/16ADVANCED MICRO DEVICES : AMD to Present at Credit Suisse 24th Annual Technology ..
AQ
11/16AMD to Present at Credit Suisse 24th Annual Technology Conference
GL
11/16AMD Announces World's Fastest HPC Accelerator for Scientific Research¹
GL
11/16AMD EPYC™ Processors and New AMD Instinct™ MI100 Accelerator Rede..
GL
11/16ADVANCED MICRO DEVICES : AMD EPYC™ Processors and New AMD Instinct™ ..
AQ
11/16ADVANCED MICRO DEVICES : AMD Announces World's Fastest HPC Accelerator for Scien..
AQ
11/10Nasdaq retreats as technology stocks lose favor
RE
More news
Financials (USD)
Sales 2020 9 536 M - -
Net income 2020 1 219 M - -
Net cash 2020 1 893 M - -
P/E ratio 2020 86,6x
Yield 2020 -
Capitalization 102 B 102 B -
EV / Sales 2020 10,5x
EV / Sales 2021 8,29x
Nbr of Employees 11 400
Free-Float 98,9%
Chart ADVANCED MICRO DEVICES, INC.
Duration : Period :
Advanced Micro Devices, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ADVANCED MICRO DEVICES, INC.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 39
Average target price 88,74 $
Last Close Price 85,07 $
Spread / Highest target 41,1%
Spread / Average Target 4,32%
Spread / Lowest Target -84,7%
EPS Revisions
Managers
NameTitle
Lisa T. Su President, CEO & Non-Independent Director
John Edward Caldwell Chairman
Keivan Keshvari Senior Vice President-Global Operations
Devinder Kumar Chief Financial Officer, Treasurer & Senior VP
Mark D. Papermaster CTO, Executive VP-Technology & Engineering
Sector and Competitors
1st jan.Capitalization (M$)
ADVANCED MICRO DEVICES, INC.85.50%102 603
TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LIMITED48.64%450 943
NVIDIA CORPORATION123.37%325 346
INTEL CORPORATION-24.16%188 754
QUALCOMM INCORPORATED65.51%162 660
BROADCOM INC.22.46%156 542