8-KEarnings & ResultsRegulation FDExhibits & Filings

ADVANCED MICRO DEVICES INC 8-K Report, Financial Results (Jul 25, 2017)

Filed July 25, 2017For Securities:AMD

Summary

Advanced Micro Devices, Inc. (AMD) filed an 8-K on July 25, 2017, to report its financial results for the fiscal quarter ended July 1, 2017. This filing primarily serves to provide the market with the company's latest performance data and commentary, as detailed in attached exhibits, including a press release and CFO remarks. Investors should pay close attention to the provided financial metrics, which include both GAAP and non-GAAP measures, as the company uses these to present its core operational performance and aid in comparative analysis.

Key Highlights

  • 1AMD announced its financial results for the fiscal quarter ended July 1, 2017.
  • 2The filing includes a press release (Exhibit 99.1) and CFO commentary (Exhibit 99.2) detailing the company's performance.
  • 3Both GAAP and non-GAAP financial measures are presented to provide a comprehensive view of the company's operations.
  • 4Non-GAAP measures discussed include gross margin, operating expenses, operating income (loss), net income (loss), earnings (loss) per share, interest expense, taxes and other, Adjusted EBITDA, and free cash flow.
  • 5AMD states that non-GAAP measures are intended to assist investors in comparing core performance by excluding items not indicative of underlying operating performance.
  • 6The company advises investors to carefully evaluate both GAAP and non-GAAP measures, highlighting that non-GAAP figures are not a substitute for GAAP.
  • 7The information furnished in this 8-K is not considered 'filed' for purposes of Section 18 of the Exchange Act, meaning it does not carry the same liability.

Frequently Asked Questions

The main purpose of this 8-K filing is to publicly disclose Advanced Micro Devices, Inc.'s (AMD) financial results for its fiscal quarter ended July 1, 2017, through an attached press release and CFO commentary.

AMD presents both U.S. Generally Accepted Accounting Principles (GAAP) financial measures and supplemental non-GAAP financial measures. The non-GAAP measures are intended to provide a clearer view of the company's core operational performance by excluding certain items.

AMD uses non-GAAP financial measures to assist investors in comparing the company's core performance by excluding items that management believes are not indicative of the company's underlying operating performance. However, AMD emphasizes that these are supplemental and not a substitute for GAAP measures.

The filing mentions several non-GAAP metrics including non-GAAP gross margin, non-GAAP operating expenses, non-GAAP research and development and marketing, general and administrative expenses, non-GAAP operating income (loss), non-GAAP net income (loss), non-GAAP earnings (loss) per share, non-GAAP interest expense, taxes and other, Adjusted EBITDA, and free cash flow.