8-KEarnings & ResultsRegulation FDExhibits & Filings

ADVANCED MICRO DEVICES INC 8-K Report, Financial Results (Apr 27, 2021)

Filed April 27, 2021For Securities:AMD

Summary

Advanced Micro Devices, Inc. (AMD) filed an 8-K on April 27, 2021, to announce its financial results for the first quarter ended March 27, 2021. The filing includes a press release and a presentation detailing the company's performance and financial condition. These documents provide a comprehensive overview of AMD's Q1 2021 results, supplementing the reported GAAP figures with various non-GAAP financial measures, which the company uses to offer a clearer view of its core operating performance and facilitate period-over-period comparisons. The company also scheduled a conference call for April 27, 2021, to discuss these results and provide forward-looking financial guidance. Investors should note that the information furnished in this 8-K, including the exhibits, is not considered "filed" under Section 18 of the Exchange Act, meaning it doesn't carry the same legal liabilities but can be incorporated by reference into future SEC filings. The focus for investors is on the detailed financial performance and future outlook as presented in the accompanying press release and presentation.

Key Highlights

  • 1AMD announced its Q1 2021 financial results on April 27, 2021, via an 8-K filing.
  • 2The filing includes a press release (Exhibit 99.1) and a financial results presentation (Exhibit 99.2) for the first quarter ended March 27, 2021.
  • 3AMD will host a conference call on April 27, 2021, to discuss Q1 2021 results and provide financial guidance.
  • 4The company provided both GAAP and non-GAAP financial measures, including non-GAAP gross profit, operating income, net income, EPS, Adjusted EBITDA, and free cash flow.
  • 5AMD utilizes a normalized non-GAAP tax rate of 15% for fiscal year 2021 to enhance comparability.
  • 6The non-GAAP measures are presented to aid investor comparability and understanding of core operating performance, but should be considered alongside GAAP results.
  • 7Information furnished under Items 2.02 and 7.01, including exhibits, is not deemed 'filed' for purposes of Section 18 of the Exchange Act.

Frequently Asked Questions

The primary purpose of this 8-K filing is to announce Advanced Micro Devices, Inc.'s (AMD) financial results for its first quarter ended March 27, 2021, and to provide accompanying information through a press release and a presentation.

AMD provides both U.S. Generally Accepted Accounting Principles (GAAP) financial results and supplementary non-GAAP financial measures. These non-GAAP measures include non-GAAP gross profit, non-GAAP operating expenses, non-GAAP operating income, non-GAAP net income, non-GAAP earnings per share, Adjusted EBITDA, and free cash flow.

AMD provides non-GAAP financial measures to make it easier for investors to compare its operating results across current and historical periods. The company believes these measures assist investors in comparing performance on a consistent basis by excluding items not indicative of core operating performance, though they should be viewed in addition to, not as a substitute for, GAAP results.

Information 'furnished' in this report, such as the press release and presentation, is not considered 'filed' for the purposes of Section 18 of the Securities Exchange Act of 1934. This means it does not carry the same legal liabilities as filed information, although it can be incorporated by reference into future SEC filings if specifically referenced.