8-KEarnings & ResultsRegulation FDExhibits & Filings

ADVANCED MICRO DEVICES INC 8-K Report, Financial Results (Apr 30, 2024)

Filed April 30, 2024For Securities:AMD

Summary

Advanced Micro Devices, Inc. (AMD) filed an 8-K on April 30, 2024, announcing its first-quarter 2024 financial results and providing forward-looking guidance. The report primarily serves to attach the company's earnings press release (Exhibit 99.1) and a presentation (Exhibit 99.2) detailing these results and outlook. Investors should refer to these attached documents for the specific financial figures and management's commentary on performance and future expectations. The filing also highlights AMD's use of non-GAAP financial measures, such as non-GAAP gross profit, operating income, net income, and diluted earnings per share, along with adjusted EBITDA and free cash flow. The company believes these non-GAAP metrics offer a clearer view of its core operating performance and facilitate comparisons across periods. It's important for investors to review these non-GAAP figures in conjunction with, and not as a substitute for, the GAAP-based financial statements, as reconciliations are provided within the referenced press release and presentation.

Key Highlights

  • 1AMD released its first-quarter 2024 financial results and guidance via an 8-K filing on April 30, 2024.
  • 2The 8-K includes an earnings press release (Exhibit 99.1) and a financial results presentation (Exhibit 99.2) for Q1 2024.
  • 3The company will host a conference call on April 30, 2024, to discuss Q1 2024 financial results and provide forward-looking guidance.
  • 4AMD utilizes non-GAAP financial measures, including non-GAAP gross profit, operating expenses, operating income, net income, diluted EPS, adjusted EBITDA, and free cash flow, to supplement GAAP reporting.
  • 5The company states that non-GAAP measures are provided to aid investor comparability and understanding of core operating performance.
  • 6Investors are advised to view non-GAAP measures alongside, not as a replacement for, GAAP results.
  • 7Reconciliations between GAAP and non-GAAP financial measures are available in the attached press release and presentation.

Frequently Asked Questions

The main purpose of this 8-K filing is to officially announce and provide access to Advanced Micro Devices, Inc.'s (AMD) first-quarter 2024 financial results and its forward-looking financial guidance. It serves as a formal record by attaching the company's earnings press release and presentation.

The detailed financial results, including both GAAP and non-GAAP figures, are provided in Exhibit 99.1 (Press Release dated April 30, 2024) and Exhibit 99.2 (First Quarter 2024 Financial Results Presentation) attached to this 8-K filing.

Non-GAAP financial measures are financial metrics that exclude certain items from GAAP (Generally Accepted Accounting Principles) results. AMD uses them, such as non-GAAP gross profit, operating income, net income, and diluted EPS, to provide investors with a clearer view of its core operating performance and to facilitate better comparisons across different reporting periods. The company believes these measures exclude items not indicative of its fundamental business performance.

AMD's non-GAAP financial measures should be considered in addition to, and not as a substitute for or superior to, its GAAP-reported results. The company provides reconciliations of these non-GAAP measures to their most directly comparable GAAP measures within the earnings press release and presentation. Investors should review both GAAP and non-GAAP figures for a comprehensive understanding.