AMD Reports Second Quarter 2022 Financial Results

― Record quarterly revenue of $6.6 billion grew 70% year-over-year;
Record quarterly operating cash flow exceeded $1 billion ―

SANTA CLARA, Calif., Aug. 02, 2022 (GLOBE NEWSWIRE) -- AMD (NASDAQ:AMD) today announced revenue for the second quarter of 2022 of $6.6 billion, gross margin of 46%, operating income of $526 million, operating margin of 8%, net income of $447 million and diluted earnings per share of $0.27. On a non-GAAP(*) basis, gross margin was 54%, operating income was $2.0 billion, operating margin was 30%, net income was $1.7 billion and diluted earnings per share was $1.05.

GAAP Quarterly Financial Results

  Q2 2022 Q2 2021 Y/Y
Revenue ($M)$6,550$3,850Up 70%
Gross profit ($M)$3,028$1,830Up 65%
Gross margin %46%48%Down 140 bps
Operating expenses ($M)$2,508$1,000Up 151%
Operating income ($M)$526$831Down 37%
Operating margin %8%22%Down 14 pp
Net income ($M)$447$710Down 37%
Earnings per share$0.27$0.58Down 53%

Non-GAAP(*) Quarterly Financial Results

  Q2 2022 Q2 2021 Y/Y
Revenue ($M)$6,550$3,850Up 70%
Gross profit ($M)$3,538$1,832Up 93%
Gross margin %54%48%Up 640 bps
Operating expenses ($M)$1,562$909Up 72%
Operating income ($M) $1,982 $924 Up 115%
Operating margin % 30% 24% Up 6 pp
Net income ($M) $1,707 $778 Up 119%
Earnings per share $1.05 $0.63 Up 67%

“We delivered our eighth straight quarter of record revenue based on our strong execution and expanded product portfolio,” said AMD Chair and CEO Dr. Lisa Su. “Each of our segments grew significantly year-over-year, led by higher sales of our data center and embedded products. We see continued growth in the back half of the year highlighted by our next generation 5nm product shipments and supported by our diversified business model.”

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