AMD Reports 2016 Second Quarter Results

(1) Computing and Graphics segment primarily includes desktop and notebook  
    processors, chipsets, discrete graphics processing units (GPUs) and     
    professional graphics.                                                  
(2) Enterprise, Embedded and Semi-Custom segment primarily includes server  
    and embedded processors, semi-custom System-on-Chip (SoC) products,     
    development services, technology for game consoles and licensing        
    portions of its intellectual property portfolio.                        
(3) All Other category primarily includes certain expenses and credits that 
    are not allocated to any of the operating segments. Also included in    
    this category are stock-based compensation expense and restructuring    
    and other special charges, net. In addition, the Company also included  
    amortization of acquired intangible assets for six months ended June    
    27, 2015.                                                               
                                                                            
(4) Reconciliation of GAAP Operating Loss to Adjusted EBITDA*               
                                                                            
                                Three Months Ended        Six Months Ended  
                          -----------------------------  ------------------ 
                          June 25,  March 26,  June 27,  June 25,  June 27, 
                            2016       2016      2015      2016      2015   
                          --------  ---------  --------  --------  -------- 
    GAAP operating loss   $     (8) $     (68) $   (137) $    (76) $   (274)
    Technology node                                                         
     transition charge           -          -        33         -        33 
    Restructuring and                                                       
     other special                                                          
     charges, net               (7)        (3)        -       (10)       87 
    Stock-based                                                             
     compensation               18         16        17        34        34 
    Amortization of                                                         
     acquired intangible                                                    
     assets                      -          -         -         -         3 
    Depreciation and                                                        
     amortization               33         33        45        66        88 
                          --------  ---------  --------  --------  -------- 
    Adjusted EBITDA       $     36  $     (22) $    (42) $       14    $        (29)
                                                    ========    =========    ========    ========    ========  
                                                                                                                                                        
(5)  Non-GAAP  free  cash  flow  reconciliation**                                                                
                                                                                                                                                        
                                                                Three  Months  Ended                Six  Months  Ended    
                                                    -----------------------------    ------------------  
                                                    June  25,    March  26,    June  27,    June  25,    June  27,  
                                                        2016              2016            2015            2016            2015      
                                                    --------    ---------    --------    --------    --------  
        GAAP  net  cash  used  in                                                                                                      
          operating  activities  $        (85)  $          (42)  $        (57)  $      (127)  $      (229)
        Purchases  of  property,                                                                                                    
          plant  and  equipment              (21)              (26)            (17)            (47)            (39)
                                                    --------    ---------    --------    --------    --------  
        Non-GAAP  free  cash                                                                                                            
          flow                                  $      (106)  $          (68)  $        (74)  $      (174)  $      (268)
                                                    ========    =========    ========    ========    ========  
                                                                                                                                                        
                                                                                                                                                        
*      The  Company  presents  "Adjusted  EBITDA"  as  a  supplemental  measure  of  its  
        performance.  Adjusted  EBITDA  for  the  Company  is  determined  by  adjusting  
        operating  income  (loss)  for  depreciation  and  amortization,  stock-based    
        compensation  expense  and  restructuring  and  other  special  charges,  net.    
        In  addition,  the  Company  excluded  a  technology  node  transition  charge      
        for  the  three  months  and  six  months  ended  June  27,  2015  and                          
        amortization  of  acquired  intangible  assets  for  the  six  months  ended          
        June  27,  2015.  The  Company  calculates  and  communicates  Adjusted  EBITDA    
        because  the  Company's  management  believes  it  is  of  importance  to                
        investors  and  lenders  in  relation  to  its  overall  capital  structure  and    
        its  ability  to  borrow  additional  funds.  In  addition,  the  Company                
        presents  Adjusted  EBITDA  because  it  believes  this  measure  assists              
        investors  in  comparing  its  performance  across  reporting  periods  on  a        
        consistent  basis  by  excluding  items  that  the  Company  does  not  believe      
        are  indicative  of  its  core  operating  performance.  The  Company's                  
        calculation  of  Adjusted  EBITDA  may  or  may  not  be  consistent  with  the        
        calculation  of  this  measure  by  other  companies  in  the  same  industry.        
        Investors  should  not  view  Adjusted  EBITDA  as  an  alternative  to  the  GAAP  
        operating  measure  of  operating  income  (loss)  or  GAAP  liquidity  measures  
        of  cash  flows  from  operating,  investing  and  financing  activities.  In        
        addition,  Adjusted  EBITDA  does  not  take  into  account  changes  in  certain  
        assets  and  liabilities  as  well  as  interest  and  income  taxes  that  can        
        affect  cash  flows.                                                                                                            
                                                                                                                                                        
**    The  Company  also  presents  non-GAAP  free  cash  flow  as  a  supplemental          
        measure  of  its  performance.  Non-GAAP  free  cash  flow  is  determined  by        
        adjusting  GAAP  net  cash  provided  by  (used  in)  operating  activities  for    
        capital  expenditures.  The  Company  calculates  and  communicates  non-GAAP    
        free  cash  flow  in  the  financial  earnings  press  release  because  the            
        Company's  management  believes  it  is  of  importance  to  investors  to              
        understand  the  nature  of  these  cash  flows.  The  Company's  calculation  of  
        non-GAAP  free  cash  flow  may  or  may  not  be  consistent  with  the                      
        calculation  of  this  measure  by  other  companies  in  the  same  industry.        
        Investors  should  not  view  non-GAAP  free  cash  flow  as  an  alternative  to    
        GAAP  liquidity  measures  of  cash  flows  from  operating  activities.  The        
        Company  has  provided  reconciliations  within  the  earnings  press  release    
        of  these  non-GAAP  financial  measures  to  the  most  directly  comparable        
        GAAP  financial  measures.                                                                                                
 




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