8-KEarnings & ResultsRegulation FDExhibits & Filings

ADVANCED MICRO DEVICES INC 8-K Report, Financial Results (Jan 31, 2023)

Filed January 31, 2023For Securities:AMD

Summary

Advanced Micro Devices, Inc. (AMD) filed an 8-K on January 31, 2023, to announce its financial results for the fiscal quarter and year ended December 31, 2022. The report includes a press release and a presentation detailing these results. A conference call was scheduled for the same day to discuss the financial performance and provide forward-looking guidance. Notably, AMD provided both GAAP and non-GAAP financial measures, including non-GAAP gross profit, operating expenses, net income, and earnings per share, as well as Adjusted EBITDA and free cash flow. The company also presented pro forma revenue to reflect the Xilinx acquisition more fully. This non-GAAP reporting aims to offer investors a clearer view of core operating performance and facilitate easier comparisons across periods. Investors are advised to review these non-GAAP measures in conjunction with AMD's official GAAP financial statements.

Key Highlights

  • 1AMD announced its Q4 and full-year 2022 financial results on January 31, 2023.
  • 2The company held a conference call on January 31, 2023, to discuss results and provide guidance.
  • 3Both GAAP and non-GAAP financial measures were presented.
  • 4Key non-GAAP metrics include gross profit, operating income, net income, and EPS.
  • 5Adjusted EBITDA and free cash flow were also provided as supplemental metrics.
  • 6Pro forma revenue figures were presented to reflect the Xilinx acquisition's impact.
  • 7The company detailed its use of a normalized non-GAAP tax rate for reporting consistency.

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 fiscal quarter and full year ended December 31, 2022. It includes the official press release and a presentation detailing these results.

AMD provides both U.S. Generally Accepted Accounting Principles (GAAP) and non-GAAP financial measures. The non-GAAP measures include gross profit, operating expenses, operating income, net income, earnings per share, Adjusted EBITDA, and free cash flow, which the company believes offer a clearer view of its core operating performance.

AMD presents non-GAAP financial measures to provide investors with additional information that it believes makes it easier to compare its operating results across current and historical periods. The company aims to show performance on a consistent basis by excluding items not indicative of core operations, though these should be viewed alongside, not as a substitute for, GAAP results.

The pro forma revenue figures are presented to provide supplemental information by reflecting the Xilinx acquisition's revenue impact for specific periods, making it easier for investors to understand the combined entity's revenue trajectory.