Early Access

10-QPeriod: Q2 FY2010

ADVANCED MICRO DEVICES INC Quarterly Report for Q2 Ended Jun 26, 2010

Filed August 4, 2010For Securities:AMD

Summary

For the second quarter ended June 26, 2010, Advanced Micro Devices, Inc. (AMD) reported a significant year-over-year increase in net revenue, reaching $1.65 billion, a 40% rise compared to $1.18 billion in the same period of the prior year. This growth was driven by strong demand across its Computing Solutions and Graphics segments. The company also achieved a positive operating income of $125 million, a substantial improvement from the operating loss of $249 million in the second quarter of 2009, reflecting improved gross margins and operational efficiencies. A key development during the period was the deconsolidation of GLOBALFOUNDRIES (GF) as of December 27, 2009, leading to a significant non-cash gain recognized in the first quarter of 2010 and impacting year-over-year comparisons. AMD ended the quarter with $1.9 billion in cash, cash equivalents, and marketable securities, providing a solid liquidity position despite ongoing long-term debt obligations.

Financial Highlights

52 data points
Beta

Revenue

$1.65B

0.4% Gross Margin

Net Income

-$43.00M

-0.0% Net Margin

EPS (Diluted)

$0.06

Total Assets

$4.96B

Cash & Equivalents

$1.08B

Free Cash Flow

-$129.00M

Financial Statements
Beta
Revenue$1.65B
Cost of Revenue$915.00M
Gross Profit$738.00M
R&D Expenses$371.00M
SG&A Expenses$229.00M
Operating Income$125.00M
Interest Expense$55.00M
Net Income-$43.00M
EPS (Basic)$0.06
EPS (Diluted)$0.06
Shares Outstanding (Basic)709.00M
Shares Outstanding (Diluted)709.00M

Key Highlights

  • 1Net revenue increased 40% year-over-year to $1.65 billion, driven by strong demand in Computing Solutions and Graphics segments.
  • 2Achieved positive operating income of $125 million, a significant improvement from a $249 million loss in the prior year's quarter.
  • 3Gross margin improved to 45% from 37% year-over-year, benefiting from improved manufacturing utilization and product mix.
  • 4The deconsolidation of GLOBALFOUNDRIES (GF) in late 2009 continues to impact financial comparisons but resulted in a significant non-cash gain recognized earlier.
  • 5Cash, cash equivalents, and marketable securities stood at $1.9 billion, indicating a healthy liquidity position.
  • 6The company repurchased $216 million in principal amount of its 6.00% Convertible Senior Notes during the first six months of 2010.
  • 7Announced a tender offer for up to $800 million of its 6.00% Notes and issued $500 million in new Senior Notes shortly after the reporting period.

Frequently Asked Questions