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ADVANCED MICRO DEVICES INC Quarterly Report for Q1 Ended Mar 28, 2009

Filing Date
Filed May 6, 2009
Period End
March 28, 2009
Security
AMD
In the record · 2016–202610-K1210-Q328-K136

AMD filed 12 annual reports (10-K), 32 quarterly reports (10-Q) and 136 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Mar ’17Mar ’17
  2. Leadership change8-K · Feb ’20Feb ’20
  3. Deal closed8-K · Jun ’22Jun ’22
  4. Leadership change8-K · Dec ’25Dec ’25

01—Abstract

Summary

Summary of the 10-Q filed May 6, 2009. Cited figures are marked; the original filing is the authoritative source.

Advanced Micro Devices, Inc. (AMD) reported a net loss of $414 milliona for the quarter ended March 28, 2009, a significant increase compared to the prior year's net loss of $351 million.

This widening loss was driven by a 21% decrease in net revenue, which fell to $1.177 billionb from $1.487 billion in the same period last year. The company highlighted the challenging macroeconomic environment impacting demand for its products.

A major development during the quarter was the consummation of the GLOBALFOUNDRIES manufacturing joint venture, which significantly impacted the company's financial structure and reporting segments. Despite the operational challenges, AMD ended the quarter with substantially increased cash and cash equivalents and marketable securities, totaling $2.7 billionc, up from $1.1 billion at the end of the previous quarter, largely due to the GLOBALFOUNDRIES transaction.

02—Key points

Key Highlights

  1. Net loss of $414 million for the quarter, widening from $351 million in the prior year.
  2. Net revenue decreased by 21% year-over-year to $1.177 billion.
  3. Completed the formation of the GLOBALFOUNDRIES manufacturing joint venture.
  4. Cash, cash equivalents, and marketable securities increased significantly to $2.7 billion from $1.1 billion.
  5. Operating loss was $298 million, an increase from $234 million in the prior year.
  6. Restructuring charges of $60 million were recorded in the quarter.
  7. New segment reporting structure implemented due to the GLOBALFOUNDRIES transaction.

03—Questions

Frequently Asked Questions

  1. What was the primary reason for the increased net loss in this quarter?

    The increased net loss was primarily driven by a significant decrease in net revenue, down 21% year-over-year, due to lower unit shipments and average selling prices, exacerbated by challenging macroeconomic conditions impacting demand for technology products. Additionally, restructuring charges of $60 million were recorded.

  2. What is the significance of the GLOBALFOUNDRIES transaction?

    The consummation of the GLOBALFOUNDRIES manufacturing joint venture was the most significant event of the quarter. This transaction fundamentally changed AMD's operational and reporting structure, creating a new 'Foundry' segment and impacting the allocation of expenses and the overall financial presentation. It also significantly boosted the company's cash position.

  3. How has the company's cash position changed, and what is the impact of the GLOBALFOUNDRIES transaction?

    AMD's cash, cash equivalents, and marketable securities increased substantially to $2.7 billion from $1.1 billion at the end of the previous quarter. A significant portion of this increase, $1.1 billion, represents GLOBALFOUNDRIES' cash and cash equivalents, directly related to the closing of the joint venture transaction.

  4. What is the outlook for revenue and profitability given the current market conditions?

    The company continues to face headwinds from the challenging macroeconomic environment, which is adversely impacting end-user demand for computers and IT products, leading to lower unit shipments and price pressures. While efforts are underway to reduce costs and improve gross margins, the outlook for revenue and profitability remains subject to these broader economic challenges and competitive pressures.

04—Continue

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