8-KEarnings & ResultsRegulation FDExhibits & Filings

ADVANCED MICRO DEVICES INC 8-K Report, Financial Results (Oct 29, 2019)

Filed October 29, 2019For Securities:AMD

Summary

This 8-K filing from Advanced Micro Devices Inc. (AMD) dated October 29, 2019, primarily serves to disclose the company's financial results for the third quarter of 2019 and provide forward-looking guidance. The filing includes a press release (Exhibit 99.1) and a presentation (Exhibit 99.2) detailing these results. Investors should note that the information furnished herein is not considered "filed" for certain regulatory purposes, but it is crucial for understanding AMD's recent performance and future outlook. The company also highlights its use of non-GAAP financial measures, such as non-GAAP gross margin, operating expenses, net income, and earnings per share, alongside Adjusted EBITDA and free cash flow. AMD states that these non-GAAP measures are intended to provide investors with a clearer view of core operational performance by excluding certain items. However, investors are advised to consider these alongside GAAP results and carefully review the provided reconciliations, as they are not a substitute for GAAP-based reporting.

Key Highlights

  • 1AMD announced its Q3 2019 financial results and provided forward-looking guidance on October 29, 2019.
  • 2The filing includes a press release (Exhibit 99.1) and a financial presentation (Exhibit 99.2) detailing the Q3 2019 performance.
  • 3The disclosed financial information, while furnished, is not deemed 'filed' for specific SEC purposes.
  • 4AMD utilizes non-GAAP financial measures, including non-GAAP gross margin, operating expenses, net income, and EPS, to supplement GAAP results.
  • 5Additional non-GAAP measures such as Adjusted EBITDA and free cash flow are also provided to investors.
  • 6The company believes non-GAAP measures offer a better comparison of core performance by excluding non-indicative items.
  • 7Investors are cautioned to evaluate both GAAP and non-GAAP measures, and to review the provided reconciliations carefully.

Frequently Asked Questions

The main purpose of this 8-K filing is to formally announce Advanced Micro Devices Inc.'s (AMD) financial results for the third quarter of 2019 and to provide the company with an opportunity to offer forward-looking financial guidance to investors. It includes a press release and a presentation with detailed financial information.

AMD uses non-GAAP financial measures (like non-GAAP gross margin, operating income, net income, EPS, Adjusted EBITDA, and free cash flow) to present a view of its financial performance that excludes certain items the company believes are not indicative of its underlying operating performance. This is intended to help investors compare the company's core results over time.

No, investors are strongly advised not to rely solely on the non-GAAP financial measures. The company explicitly cautions investors to carefully evaluate both GAAP (Generally Accepted Accounting Principles) and non-GAAP financial results, and to review the provided reconciliations. Non-GAAP measures are considered supplemental and not a substitute for GAAP-based reporting.

The detailed financial results and presentation for AMD's third quarter of 2019 are provided as exhibits to this 8-K filing. Specifically, Exhibit 99.1 is the press release dated October 29, 2019, and Exhibit 99.2 is the Third Quarter 2019 Financial Results Presentation.