AMD Reports 2016 Second Quarter Results

Current Outlook
AMD's outlook statements are based on current expectations. The following statements are forward-looking, and actual results could differ materially depending on market conditions and the factors set forth under "Cautionary Statement" below.

For Q3 2016, AMD expects revenue to increase 18 percent sequentially, plus or minus 3 percent.

For additional details regarding AMD's results and outlook please see the CFO commentary posted at quarterlyearnings.amd.com.

AMD Teleconference
AMD will hold a conference call for the financial community at 2:00 p.m. PDT (5:00 p.m. EDT) today to discuss its second quarter financial results. AMD will provide a real-time audio broadcast of the teleconference on the Investor Relations page of its website at www.amd.com. The webcast will be available for 12 months after the conference call.

Reconciliation of GAAP to Non-GAAP Gross Margin

                                     ---------------------------------------
(Millions except percentages)             Q2-16        Q1-16        Q2-15   
----------------------------------------------------------------------------
GAAP Gross Margin                     $        319 $        269 $        232
----------------------------------------------------------------------------
GAAP Gross Margin %                            31%          32%          25%
----------------------------------------------------------------------------
  Technology node transition charge              -            -           33
----------------------------------------------------------------------------
  Stock-based compensation                       -            1            1
----------------------------------------------------------------------------
Non-GAAP Gross Margin                 $        319 $        270 $        266
----------------------------------------------------------------------------
Non-GAAP Gross Margin %                        31%          32%          28%
----------------------------------------------------------------------------
                                                                            

Reconciliation of GAAP to Non-GAAP Operating Expenses

                                     ---------------------------------------
(Millions)                                Q2-16        Q1-16        Q2-15   
----------------------------------------------------------------------------
GAAP operating expenses               $        353 $        344 $        369
----------------------------------------------------------------------------
  Restructuring and other special                                           
   charges, net                                (7)          (3)            -
----------------------------------------------------------------------------
  Stock-based compensation                      18           15           16
----------------------------------------------------------------------------
Non-GAAP operating expenses           $        342 $        332 $        353
----------------------------------------------------------------------------
                                                                            

Reconciliation of GAAP Operating Loss to Non-GAAP Operating Income (loss)

                                     ---------------------------------------
(Millions)                                Q2-16        Q1-16        Q2-15   
----------------------------------------------------------------------------
GAAP operating loss                   $        (8) $       (68) $      (137)
----------------------------------------------------------------------------
  Technology node transition charge              -            -           33
----------------------------------------------------------------------------
  Restructuring and other special                                           
   charges, net                                (7)          (3)            -
----------------------------------------------------------------------------
  Stock-based compensation                      18           16           17
----------------------------------------------------------------------------
Non-GAAP operating income (loss)      $          3 $       (55) $       (87)
----------------------------------------------------------------------------
                                                                            

Reconciliation of GAAP Net Income (Loss)/Income (Loss) per Share to Non-GAAP Net Loss/Loss per Share

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