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.