8-KEarnings & ResultsRegulation FDExhibits & Filings

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

Filed April 28, 2020For Securities:AMD

Summary

Advanced Micro Devices Inc. (AMD) filed an 8-K report on April 28, 2020, to announce its financial results for the first quarter of 2020. The report primarily directs investors to an attached press release (Exhibit 99.1) and a financial presentation (Exhibit 99.2) for detailed information on the company's performance and outlook. These documents contain both GAAP and non-GAAP financial measures, with AMD emphasizing the utility of non-GAAP metrics for understanding core operational performance by excluding certain items. The company also scheduled a conference call for the same day to discuss these first-quarter results and provide forward-looking financial guidance. Investors are advised to review both GAAP and non-GAAP figures, as AMD itself cautions that non-GAAP measures should not be considered in isolation and are not a substitute for GAAP-based reporting. The filing serves as a notification of these results and the availability of further details through the provided exhibits.

Key Highlights

  • 1AMD announced its Q1 2020 financial results via an 8-K filing on April 28, 2020.
  • 2The filing includes a press release (Exhibit 99.1) and a presentation (Exhibit 99.2) detailing Q1 2020 financial performance.
  • 3A conference call was scheduled for April 28, 2020, to discuss Q1 results and provide future financial guidance.
  • 4The company presented both GAAP and non-GAAP financial measures.
  • 5Non-GAAP financial measures discussed include gross margin, operating expenses, operating income, net income, earnings per share, Adjusted EBITDA, and free cash flow.
  • 6AMD uses a normalized tax rate for non-GAAP income tax provision calculations, projecting a 3% non-GAAP tax rate for fiscal 2020.
  • 7The company advises investors to evaluate both GAAP and non-GAAP measures, noting that non-GAAP measures are supplemental.

Frequently Asked Questions

The main purpose of this 8-K filing is to officially announce Advanced Micro Devices Inc.'s (AMD) financial results for the first quarter of 2020. It also serves to notify investors about the availability of a detailed press release and a presentation containing these results and forward-looking guidance.

Detailed financial information for Q1 2020 can be found in Exhibit 99.1 (Press Release dated April 28, 2020) and Exhibit 99.2 (First Quarter 2020 Financial Results Presentation) which are attached to this 8-K filing.

GAAP (Generally Accepted Accounting Principles) refers to the standard accounting principles in the U.S. Non-GAAP financial measures are adjusted figures that exclude certain items the company believes are not indicative of its underlying operational performance. AMD uses non-GAAP measures to provide investors with a better comparison of core performance across reporting periods, but advises that they should be evaluated alongside GAAP measures.

AMD held a conference call to discuss its Q1 2020 financial results and provide forward-looking financial guidance on April 28, 2020, at 2:30 p.m. PT (5:30 p.m. ET).