8-KEarnings & ResultsRegulation FDExhibits & Filings

ADVANCED MICRO DEVICES INC 8-K Report, Financial Results (Jan 28, 2020)

Filed January 28, 2020For Securities:AMD

Summary

Advanced Micro Devices Inc. (AMD) filed an 8-K report on January 28, 2020, to announce its financial results for the fiscal quarter and full year ended December 28, 2019. The report includes a press release (Exhibit 99.1) and a financial presentation (Exhibit 99.2) detailing these results. The company also announced a conference call scheduled for January 28, 2020, to discuss these financial outcomes and provide forward-looking guidance, signaling an important update for investors regarding AMD's performance and future outlook. Notably, AMD is providing both GAAP and non-GAAP financial measures, including non-GAAP gross margin, operating expenses, net income, earnings per share, Adjusted EBITDA, and free cash flow. The company states that these non-GAAP measures are intended to offer a clearer view of core operational performance by excluding certain items. Investors are advised to review these non-GAAP figures alongside the standard GAAP results and their respective reconciliations, as they are not intended to be a substitute for GAAP reporting but rather a supplemental view.

Key Highlights

  • 1AMD announced financial results for the fourth quarter and full fiscal year 2019.
  • 2The results were detailed in a press release (Exhibit 99.1) and a financial presentation (Exhibit 99.2) attached to the 8-K.
  • 3A conference call was scheduled for January 28, 2020, to discuss financial results and provide future guidance.
  • 4The company is presenting both GAAP and non-GAAP financial measures.
  • 5Non-GAAP measures include gross margin, operating expenses, net income, earnings per share, Adjusted EBITDA, and free cash flow.
  • 6AMD believes non-GAAP measures help investors assess core performance by excluding certain items.
  • 7Investors are cautioned to consider GAAP results alongside non-GAAP measures and their reconciliations.

Frequently Asked Questions

The financial results in this 8-K filing cover the fiscal quarter and the full fiscal year ended December 28, 2019.

Yes, AMD announced a conference call on January 28, 2020, at 2:30 p.m. PT (5:30 p.m. ET) to discuss the fiscal quarter and full year results and to provide forward-looking financial guidance.

AMD is providing both U.S. Generally Accepted Accounting Principles (GAAP) financial measures and supplemental non-GAAP financial measures. These non-GAAP measures include non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating income (loss), non-GAAP net income (loss), non-GAAP earnings (loss) per share, Adjusted EBITDA, and free cash flow.

AMD states that its non-GAAP financial measures are intended to assist investors in comparing the company's core performance by excluding items believed not to be indicative of underlying operating performance. However, the company cautions investors to carefully evaluate these measures alongside GAAP results and their reconciliations, as they are not a substitute for, nor superior to, GAAP measures.