8-KEarnings & ResultsRegulation FDExhibits & Filings

ADVANCED MICRO DEVICES INC 8-K Report, Financial Results (Aug 2, 2022)

Filed August 2, 2022For Securities:AMD

Summary

Advanced Micro Devices, Inc. (AMD) filed an 8-K on August 2, 2022, to announce its second quarter 2022 financial results and provide forward-looking guidance. The filing primarily incorporated by reference a press release and presentation detailing these results. Investors should note that AMD will host a conference call to discuss these results and provide guidance. The company also highlighted its use of non-GAAP financial measures, explaining their purpose in offering a clearer view of core operating performance and facilitating comparisons across reporting periods, while emphasizing that these measures should be considered alongside GAAP results.

Key Highlights

  • 1AMD announced its Q2 2022 financial results and provided forward-looking guidance via a press release and presentation.
  • 2A conference call was scheduled for August 2, 2022, to discuss the Q2 2022 financial performance and future outlook.
  • 3The company detailed its use of non-GAAP financial measures (gross profit, operating expenses, operating income, net income, EPS, Adjusted EBITDA, free cash flow) for enhanced comparability.
  • 4AMD explained its normalized non-GAAP tax rate of 13% for fiscal 2022 and a projected non-GAAP cash tax rate of approximately 10%.
  • 5The filing emphasizes that non-GAAP measures are supplementary to, and not a substitute for, GAAP financial results.
  • 6Reconciliations of non-GAAP measures to their most directly comparable GAAP measures are available in the referenced press release and presentation.
  • 7Information furnished under Items 2.02 and 7.01, including exhibits, is not considered 'filed' for Section 18 purposes unless specifically incorporated by reference into a future filing.

Frequently Asked Questions

The primary purpose of this 8-K filing is to publicly announce Advanced Micro Devices, Inc.'s (AMD) financial results for the second quarter ended June 25, 2022, and to provide forward-looking financial guidance. It also serves to inform investors about the company's upcoming conference call to discuss these results.

Non-GAAP financial measures are financial metrics that exclude certain items from GAAP (Generally Accepted Accounting Principles) results. AMD uses them to provide a clearer view of its core operating performance and to help investors compare its results across different reporting periods and with those of other companies. These include measures like non-GAAP gross profit, operating income, net income, and earnings per share.

AMD states that their non-GAAP financial measures should be viewed in addition to, and not as a substitute for or superior to, their reported results prepared in accordance with GAAP. Investors should review both GAAP and non-GAAP figures, paying close attention to the reconciliations provided by the company to understand the adjustments made.

The detailed financial results and guidance are contained within the press release (Exhibit 99.1) and the financial results presentation (Exhibit 99.2) attached to this 8-K filing. These documents, along with the reconciliations of non-GAAP to GAAP measures, can be accessed through the SEC's EDGAR database or AMD's investor relations website.