8-KEarnings & ResultsRegulation FDExhibits & Filings

ADVANCED MICRO DEVICES INC 8-K Report, Financial Results (Jan 30, 2018)

Filed January 30, 2018For Securities:AMD

Summary

This 8-K filing from Advanced Micro Devices, Inc. (AMD) on January 30, 2018, primarily serves to disclose its financial results for the fiscal fourth quarter and full year ended December 30, 2017. The report includes a press release and commentary from the CFO, providing both GAAP and non-GAAP financial measures. Investors should pay close attention to the non-GAAP figures, as the company uses them to present what it considers its core operating performance, excluding certain items. The company emphasizes that these non-GAAP measures, such as non-GAAP gross margin, operating income (loss), net income (loss), and earnings (loss) per share, along with Adjusted EBITDA and free cash flow, are supplementary tools to aid investor comparison. However, it is crucial for investors to evaluate these alongside the official GAAP results and understand the provided reconciliations, as non-GAAP measures are not a substitute for GAAP reporting and may not be comparable to similar measures from other companies.

Key Highlights

  • 1AMD filed an 8-K on January 30, 2018, to report its financial results for the fourth quarter and full fiscal year 2017.
  • 2The report includes a press release (Exhibit 99.1) and CFO commentary (Exhibit 99.2) detailing the financial performance.
  • 3Both GAAP and non-GAAP financial measures are presented to investors.
  • 4Non-GAAP financial measures discussed include gross margin, operating expenses, operating income (loss), net income (loss), earnings (loss) per share, interest expense, taxes, Adjusted EBITDA, and free cash flow.
  • 5AMD states that non-GAAP measures are provided to assist investors in comparing the company's core performance by excluding certain items.
  • 6The company cautions investors to evaluate non-GAAP results alongside GAAP results and reconciliations, as they are not a substitute for GAAP.
  • 7The information furnished is not considered 'filed' under Section 18 of the Exchange Act, limiting its liability implications.

Frequently Asked Questions

The main purpose of this 8-K filing is to formally announce and provide detailed financial results for Advanced Micro Devices, Inc. (AMD) for its fiscal fourth quarter and full year ended December 30, 2017. It includes a press release and commentary from the CFO.

The filing discloses both U.S. Generally Accepted Accounting Principles (GAAP) financial results and supplemental non-GAAP financial measures. These non-GAAP measures include metrics like gross margin, operating income (loss), net income (loss), earnings (loss) per share, Adjusted EBITDA, and free cash flow.

AMD provides non-GAAP financial measures to help investors compare the company's core performance by excluding items that management believes are not indicative of its underlying operating performance. The company states these measures are intended to assist in analysis.

Investors should be aware that AMD cautions them to carefully evaluate the financial results calculated in accordance with GAAP alongside the supplemental non-GAAP financial measures and their provided reconciliations. Non-GAAP measures are not a substitute for, or superior to, GAAP measures and may not be comparable to similar measures used by other companies.