8-KEarnings & ResultsRegulation FDExhibits & Filings

ADVANCED MICRO DEVICES INC 8-K Report, Financial Results (Jul 25, 2018)

Filed July 25, 2018For Securities:AMD

Summary

This 8-K filing from Advanced Micro Devices, Inc. (AMD) on July 25, 2018, primarily announces their financial results for the fiscal quarter ended June 30, 2018. Investors should pay close attention to the upcoming conference call on July 25, 2018, where AMD will discuss these results and provide forward-looking financial guidance. The company also intends to post this guidance on its investor relations website following the call. Of note, AMD will be presenting both U.S. Generally Accepted Accounting Principles (GAAP) and non-GAAP financial measures. While GAAP provides the official accounting standard, the non-GAAP measures, which include metrics like non-GAAP gross margin, operating expenses, net income, and earnings per share, as well as Adjusted EBITDA and free cash flow, are highlighted by the company as tools to assist investors in understanding core performance by excluding non-indicative items. Investors are advised to review both GAAP and non-GAAP figures, along with provided reconciliations, to gain a comprehensive understanding of AMD's financial health.

Key Highlights

  • 1Announcement of financial results for the fiscal quarter ended June 30, 2018.
  • 2Scheduled conference call for July 25, 2018, to discuss Q2 2018 results and provide forward-looking guidance.
  • 3Forward-looking financial guidance to be posted on AMD's investor relations website (ir.amd.com) after the conference call.
  • 4Presentation of both GAAP and non-GAAP financial measures in earnings release.
  • 5Key non-GAAP measures to be discussed include gross margin, operating expenses, operating income, net income, earnings per share, Adjusted EBITDA, and free cash flow.
  • 6Company's rationale for using non-GAAP measures: to assist investors in comparing core performance by excluding non-indicative items.
  • 7Cautionary note to investors to carefully evaluate both GAAP and non-GAAP measures and their reconciliations, as non-GAAP measures are supplementary and not a substitute for GAAP.

Frequently Asked Questions

The primary purpose of this 8-K filing is to announce Advanced Micro Devices, Inc.'s (AMD) financial results for the fiscal quarter ended June 30, 2018, and to provide details about an upcoming conference call where these results and future guidance will be discussed.

AMD will provide its forward-looking financial guidance during a conference call scheduled for July 25, 2018, at 2:30 p.m. PT (5:30 p.m. ET). The guidance will also be posted on the company's investor relations website (ir.amd.com) after the conference call concludes.

The non-GAAP financial measures, such as non-GAAP gross margin, operating expenses, net income, earnings per share, Adjusted EBITDA, and free cash flow, are presented by AMD to supplement the standard GAAP financial results. The company believes these measures help investors better understand the core operational performance by excluding certain items that may not be indicative of the underlying business.

The detailed financial results, including the presentation of both GAAP and non-GAAP measures and their reconciliations, are contained within the press release attached as Exhibit 99.1 to this 8-K filing. Investors are encouraged to review this exhibit carefully.