— Revenue grew 93 percent while net income and EPS tripled year-over-year —
SANTA CLARA, Calif., April 27, 2021 (GLOBE NEWSWIRE) -- AMD (NASDAQ:AMD) today announced revenue for the first quarter of 2021 of $3.45 billion, operating income of $662 million, net income of $555 million and diluted earnings per share of $0.45. On a non-GAAP* basis, operating income was $762 million, net income was $642 million and diluted earnings per share was $0.52.
GAAP Quarterly Financial Results
| Q1 2021 | Q1 2020 | Y/Y | Q4 2020 | Q/Q | |
| Revenue ($M) | $3,445 | $1,786 | Up 93% | $3,244 | Up 6% |
| Gross profit ($M) | $1,587 | $818 | Up 94% | $1,451 | Up 9% |
| Gross margin % | 46% | 46% | Flat | 45% | Up 1pp |
| Operating expenses ($M) | $929 | $641 | Up 45% | $881 | Up 5% |
| Operating income ($M) | $662 | $177 | Up 274% | $570 | Up 16% |
| Tax Valuation Allowance Release Benefit ($M) | -- | -- | -- | $1,301 | -- |
| Net income ($M) | $555 | $162 | Up 243% | $1,781 | Down 69% |
| Earnings per share | $0.45 | $0.14 | Up 221% | $1.45 | Down 69% |
Non-GAAP* Quarterly Financial Results
