01—Abstract
Summary
Summary of the 8-K filed November 1, 2022. Cited figures are marked; the original filing is the authoritative source.
Advanced Micro Devices, Inc. (AMD) filed an 8-K on November 1, 2022, to announce its financial results for the third quarter ended September 24, 2022.
The filing includes a press release (Exhibit 99.1) and a presentation (Exhibit 99.2) detailing the company's performance and forward-looking guidance. These documents will be discussed in a conference call scheduled for November 1, 2022. Investors should note that AMD will be presenting both GAAP and non-GAAP financial measures.
The non-GAAP measures, which exclude certain items to better reflect core operating performance, include adjusted EBITDA and free cash flow. While these provide additional insights, they should be considered alongside the GAAP results. The company also provided details on its non-GAAP tax rate for fiscal 2022.
02—Key points
Key Highlights
- AMD announced its Q3 2022 financial results and provided forward-looking guidance.
- The company's Q3 results are detailed in an attached press release (Exhibit 99.1) and presentation (Exhibit 99.2).
- A conference call was scheduled for November 1, 2022, to discuss the Q3 financial results and guidance.
- AMD is providing both GAAP and non-GAAP financial measures for enhanced comparability.
- Key non-GAAP metrics mentioned include adjusted EBITDA and free cash flow.
- The company specified its projected non-GAAP tax rate for fiscal 2022 (13%) and non-GAAP cash tax rate (approx. 10%).
- Information furnished under Items 2.02 and 7.01 is not considered 'filed' for Section 18 purposes.
03—Questions
Frequently Asked Questions
What is the primary purpose of this 8-K filing?
The primary purpose of this 8-K filing is to announce Advanced Micro Devices, Inc. (AMD)'s financial results for its third quarter ended September 24, 2022, and to provide forward-looking financial guidance. It directs investors to an accompanying press release and presentation for detailed information.
What types of financial measures does AMD provide in its earnings release?
AMD provides both U.S. Generally Accepted Accounting Principles (GAAP) and non-GAAP financial measures. The non-GAAP measures, such as non-GAAP gross profit, non-GAAP operating income, non-GAAP net income, non-GAAP earnings per share, Adjusted EBITDA, and free cash flow, are intended to offer a clearer view of core operating performance and aid in period-to-period comparisons.
Where can investors find more detailed financial information?
Investors can find more detailed financial information in the press release dated November 1, 2022 (Exhibit 99.1) and the Third Quarter 2022 Financial Results Presentation (Exhibit 99.2) attached to this 8-K filing. These documents also contain reconciliations of non-GAAP financial measures to their most comparable GAAP measures.
What is the significance of the information not being 'filed' for Section 18 purposes?
The information furnished under Items 2.02 and 7.01, including the attached exhibits, is generally not considered 'filed' for the purposes of Section 18 of the Securities Exchange Act of 1934. This means that while the information is publicly disclosed, it does not carry the same legal liabilities as formally filed information under that specific section, unless it is specifically incorporated by reference into another filing.
04—Continue