AMD Reports 2013 Second Quarter Results

SUNNYVALE, CA -- (Marketwired) -- Jul 18, 2013 -- AMD (NYSE: AMD)

Q2 2013 Results

  • AMD revenue $1.16 billion, increased 7 percent sequentially and decreased 18 percent year-over-year
  • Gross margin 40 percent
  • Operating loss of $29 million, net loss of $74 million, loss per share of $0.10
  • Non-GAAP(1) operating loss of $20 million, net loss of $65 million, loss per share of $0.09

AMD (NYSE: AMD) today announced revenue for the second quarter of 2013 of $1.16 billion, an operating loss of $29 million and a net loss of $74 million, or $0.10 per share. The company reported a non-GAAP operating loss of $20 million and a non-GAAP net loss of $65 million, or $0.09 per share.

"Our focus on restructuring and transforming AMD resulted in improved financial results," said Rory Read, AMD president and CEO. "Our performance in the second quarter was driven by opportunities in our new high-growth and traditional PC businesses. Looking ahead, we will continue to deliver a strong value proposition to our established customers and also reach new customers as we diversify our business. We expect significant revenue growth and a return to profitability in the third quarter."

                                                                            
                           GAAP Financial Results                           
                                                                            
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                                  Q2-13           Q1-13           Q2-12     
----------------------------------------------------------------------------
Revenue                           $1.16B          $1.09B          $1.41B    
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Operating income (loss)           $(29)M          $(98)M           $77M     
----------------------------------------------------------------------------
Net income (loss) / Earnings                                                
 (loss) per share             $(74)M/$(0.10) $(146)M/$(0.19)    $37M/$0.05  
----------------------------------------------------------------------------
                                                                            
                                                                            
                        Non-GAAP Financial Results(1)                       
                                                                            
----------------------------------------------------------------------------
                                  Q2-13           Q1-13           Q2-12     
----------------------------------------------------------------------------
Revenue                           $1.16B          $1.09B          $1.41B    
----------------------------------------------------------------------------
Operating income (loss)           $(20)M          $(46)M           $86M     
----------------------------------------------------------------------------
Net income (loss) / Earnings                                                
 (loss) per share             $(65)M/$(0.09)  $(94)M/$(0.13)    $46M/$0.06  
----------------------------------------------------------------------------
                                                                            
                                                                            

Q2 2013 Reportable Segment Name Change

AMD's Graphics reportable segment has been renamed Graphics and Visual Solutions. The new reportable segment nomenclature provides greater clarity on the product lines that comprise the segment and reflects the growing importance of gaming and semi-custom offerings to AMD. There is no change to the composition of this reportable segment from what was previously reported.

AMD's two reportable segments continue to be comprised of the following:

  • The Computing Solutions segment, which includes microprocessors (MPUs), accelerated processing units (APUs), chipsets, embedded processors and servers; and
  • The Graphics and Visual Solutions segment, comprised of graphic processing units (GPUs), including professional graphics, as well as revenue from semi-custom products and development and game console royalties.

Quarterly Financial Summary

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