AMD Reports 2013 Third Quarter Results

SUNNYVALE, CA -- (Marketwired) -- Oct 17, 2013 -- AMD (NYSE: AMD)

Q3 2013 Results

  • AMD revenue $1.46 billion, increased 26 percent sequentially and 15 percent year-over-year
  • Gross margin 36 percent
  • Operating income of $95 million and non-GAAP(1) operating income of $78 million
  • Net income of $48 million, earnings per share of $0.06 and non-GAAP(1) net income of $31 million, earnings per share of $0.04

AMD (NYSE: AMD) today announced revenue for the third quarter of 2013 of $1.46 billion, operating income of $95 million and net income of $48 million, or $0.06 per share. The company reported non-GAAP operating income of $78 million and non-GAAP net income of $31 million, or $0.04 per share.

"AMD returned to profitability and generated free cash flow in the third quarter as we continued to successfully execute the strategic transformation plan we outlined a year ago," said Rory Read, AMD president and CEO. "We achieved 26 percent sequential revenue growth driven by our semi-custom business and remain committed to generating approximately 50 percent of revenue from high-growth markets over the next two years. Developing industry-leading technology remains at our core, and we are in the middle of a multi-year journey to redefine AMD as a leader across a more diverse set of growth markets."

                                                                            
                           GAAP Financial Results                           
                                                                            
----------------------------------------------------------------------------
                                  Q3-13           Q2-13           Q3-12     
----------------------------------------------------------------------------
Revenue                           $1.46B          $1.16B          $1.27B    
----------------------------------------------------------------------------
Operating income (loss)            $95M           $(29)M         $(131)M    
----------------------------------------------------------------------------
Net income (loss) / Earnings    $48M/$0.06    $(74)M/$(0.10) $(157)M/$(0.21)
 (loss) per share                                                           
----------------------------------------------------------------------------
                                                                            
                                                                            
                                                                            
                      Non-GAAP Financial Results (1)                        
                                                                            
----------------------------------------------------------------------------
                                  Q3-13           Q2-13           Q3-12     
----------------------------------------------------------------------------
Revenue                           $1.46B          $1.16B          $1.27B    
----------------------------------------------------------------------------
Operating income (loss)            $78M           $(20)M         $(124)M    
----------------------------------------------------------------------------
Net income (loss) / Earnings    $31M/$0.04    $(65)M/$(0.09) $(150)M/$(0.20)
 (loss) per share                                                           
----------------------------------------------------------------------------
                                                                            

Quarterly Financial Summary

  • Gross margin was 36 percent in Q3 2013.
    • Gross margin decreased sequentially. Q3 2013 gross margin included a $19 million benefit, approximately 1 percentage point, from the sale of inventory that had been previously reserved in Q3 2012 as compared to a similar $11 million benefit, approximately 1 percentage point, in Q2 2013.
  • Cash, cash equivalents and marketable securities balance, including long-term marketable securities, was $1.2 billion at the end of the quarter, slightly above our targeted optimal level of $1.1 billion.
  • Computing Solutions segment revenue decreased 6 percent sequentially and decreased 15 percent year-over-year. The sequential and year-over-year declines were due to decreased notebook and chipset unit shipments, partially offset by an increase in desktop unit shipments.
    • Operating income was $22 million, compared with operating income of $2 million in Q2 2013 and an operating loss of $114 million in Q3 2012. The Q3 2012 operating loss included an inventory write-down of approximately $100 million primarily consisting of first generation A-Series accelerated processing units (APUs).
    • Microprocessor Average Selling Price (ASP) was flat sequentially and decreased year-over-year.
  • Graphics and Visual Solutions (GVS) is comprised of graphics processing units (GPUs), including professional graphics, as well as semi-custom products and development and game console royalties.
    • GVS segment revenue increased 110 percent sequentially and increased 96 percent year-over-year driven largely by our semi-custom business. GPU revenue declined sequentially and year-over-year. In the third quarter customers began transitioning to our new products late in the quarter.
    • Operating income was $79 million compared with breakeven in Q2 2013 and $18 million in Q3 2012.
    • GPU ASP decreased sequentially and year-over-year.


1 | 2 | 3 | 4  Next Page »



Review Article Be the first to review this article
Aldec Webinar Nov 30

Featured Video
Editorial
Peggy AycinenaWhat Would Joe Do?
by Peggy Aycinena
Computer History Museum: the Future of War is Here
More Editorial  
Jobs
ASIC Design Engineer for Infinera Corp at Sunnyvale, CA
Principal PIC Hardware Controls Engineer for Infinera Corp at Sunnyvale, CA
Senior SW Developer for EDA Careers at San Jose, CA
Senior PIC Test Development Engineer for Infinera Corp at Sunnyvale, CA
REVISED***Director Product Line RF/IC for EDA Careers at San Jose, CA
Upcoming Events
“Empowering Leadership with WIT and WISDOM” at SEMI 673 South Milpitas Blvd. Milpitas CA - Nov 28, 2017
Artificial Intelligence and Convolution Neural Networks Discussion at San Jose State University Student Union Theater San Jose CA - Dec 4, 2017
Silicon Valley's Only Comprehensive Embedded Systems Conference at San Jose Convention Center 150 W. San Carlos St. San Jose CA - Dec 5 - 7, 2017
Oski Technology’s Decoding Formal Club Meeting at The Conference Center San Jose CA - Dec 7, 2017



Internet Business Systems © 2017 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering TechJobsCafe - Technical Jobs and Resumes GISCafe - Geographical Information Services  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise