Summary
Advanced Micro Devices, Inc. (AMD) reported its financial results for the second quarter and first six months of fiscal year 2013, ending June 29, 2013. The company experienced a significant decline in net revenue compared to the prior year, with Q2 2013 revenue at $1.16 billion, down 18% from $1.41 billion in Q2 2012. For the six-month period, revenue was $2.25 billion, a decrease from $3.00 billion in the same period last year. This revenue decline was primarily driven by challenging market conditions in the computing solutions segment and to a lesser extent, graphics and visual solutions. The company reported a net loss of $74 million ($0.10 per diluted share) for the second quarter of 2013, a stark contrast to a net income of $37 million ($0.05 per diluted share) in the prior year's quarter. For the first six months of 2013, the net loss widened to $220 million ($0.29 per diluted share) from a loss of $553 million ($0.75 per diluted share) in the first half of 2012. Operating expenses saw reductions due to restructuring efforts, but the overall financial performance indicated ongoing challenges in its core markets.
Financial Highlights
55 data points| Revenue | $1.16B |
| Cost of Revenue | $702.00M |
| Gross Profit | $459.00M |
| R&D Expenses | $308.00M |
| SG&A Expenses | $171.00M |
| Operating Income | -$29.00M |
| Interest Expense | $42.00M |
| Net Income | -$74.00M |
| EPS (Basic) | $-0.10 |
| EPS (Diluted) | $-0.10 |
| Shares Outstanding (Basic) | 752.00M |
| Shares Outstanding (Diluted) | 752.00M |
Key Highlights
- 1Net revenue for Q2 2013 was $1.16 billion, an 18% decrease year-over-year, reflecting challenging market conditions.
- 2The company reported a net loss of $74 million for Q2 2013, compared to a net income of $37 million in Q2 2012.
- 3For the six months ended June 29, 2013, net revenue decreased to $2.25 billion from $3.00 billion in the prior year.
- 4The Computing Solutions segment's revenue declined by 20% year-over-year in Q2 2013, impacted by decreased unit shipments and average selling price.
- 5The Graphics and Visual Solutions segment's revenue decreased by 13% year-over-year in Q2 2013, primarily due to lower GPU product revenue.
- 6Operating expenses were reduced, with R&D and SG&A expenses showing year-over-year decreases as part of restructuring efforts.
- 7Cash, cash equivalents, and marketable securities remained relatively stable at approximately $1.0 billion as of June 29, 2013.