01—Abstract
Summary
Summary of the 8-K filed August 1, 2023. Cited figures are marked; the original filing is the authoritative source.
Advanced Micro Devices Inc. (AMD) filed an 8-K on August 1, 2023, to announce its financial results for the second quarter ended July 1, 2023.
The filing primarily references an attached press release and presentation that contain detailed financial information. Investors should note that AMD is providing both GAAP and non-GAAP financial measures, with the latter intended to offer a clearer view of core operating performance by excluding certain items. The company also provided forward-looking financial guidance, which will be discussed in detail during their conference call on August 1, 2023.
02—Key points
Key Highlights
- AMD announced its Q2 2023 financial results on August 1, 2023, via an 8-K filing.
- The filing includes a press release (Exhibit 99.1) and a financial presentation (Exhibit 99.2) detailing Q2 2023 performance.
- AMD will host a conference call on August 1, 2023, to discuss Q2 results and provide financial guidance for the future.
- The company is presenting both GAAP and non-GAAP financial measures, including non-GAAP EPS and free cash flow.
- Non-GAAP measures are provided to enhance comparability across periods and focus on core operating performance.
- AMD is using a normalized non-GAAP tax rate of 13% for fiscal 2023.
- Information furnished under Items 2.02 and 7.01 is not considered 'filed' for Section 18 purposes unless specifically referenced in a future filing.
03—Questions
Frequently Asked Questions
What is the main purpose of this 8-K filing?
The primary purpose of this 8-K filing is to officially announce Advanced Micro Devices Inc. (AMD)'s financial results for the second quarter ended July 1, 2023, and to provide accompanying materials like a press release and presentation for investors.
What types of financial measures is AMD providing?
AMD is providing both Generally Accepted Accounting Principles (GAAP) measures and non-GAAP financial measures. The non-GAAP measures include items such as non-GAAP gross profit, non-GAAP operating expenses, non-GAAP operating income, non-GAAP net income, non-GAAP diluted earnings per share, adjusted EBITDA, and free cash flow.
Why is AMD presenting non-GAAP financial measures?
AMD believes that presenting non-GAAP financial measures helps investors compare its operating results across current and historical periods more easily. These measures exclude items that AMD does not believe are indicative of its core operating performance, thereby providing a more consistent view of performance.
When can investors get more details on AMD's Q2 results and future outlook?
Investors can get more details during AMD's conference call scheduled for August 1, 2023, at 2:00 p.m. PT (5:00 p.m. ET), where the company will discuss its second quarter financial results and provide forward-looking financial guidance.
04—Continue