ADVANCED MICRO DEVICES, INC. | |||||||||
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||
(Millions except per share amounts and percentages) | |||||||||
Three Months Ended | |||||||||
March 30,
2019 | December 29,
2018 | March 31,
2018 | |||||||
Net revenue | $ | 1,272 | $ | 1,419 | $ | 1,647 | |||
Cost of sales | 751 | 882 | 1,050 | ||||||
Gross margin | 521 | 537 | 597 | ||||||
Gross margin % | 41 | % | 38 | % | 36 | % | |||
Research and development | 373 | 371 | 343 | ||||||
Marketing, general and administrative | 170 | 138 | 134 | ||||||
Licensing gain | (60 | ) | - | - | |||||
Operating income | 38 | 28 | 120 | ||||||
Interest expense | (27 | ) | (29 | ) | (31 | ) | |||
Other income (expense), net | (7 | ) | 4 | 1 | |||||
Income before income taxes and equity loss | 4 | 3 | 90 | ||||||
Provision (benefit) for income taxes | (13 | ) | (35 | ) | 8 | ||||
Equity loss in investee | (1 | ) | - | (1 | ) | ||||
Net Income | $ | 16 | $ | 38 | $ | 81 | |||
Earnings per share | |||||||||
Basic | $ | 0.01 | $ | 0.04 | $ | 0.08 | |||
Diluted | $ | 0.01 | $ | 0.04 | $ | 0.08 | |||
Shares used in per share calculation | |||||||||
Basic | 1,044 | 1,002 | 968 | ||||||
Diluted | 1,094 | 1,079 | 1,039 | ||||||