ADVANCED MICRO DEVICES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Millions except per share amounts and percentages) (Unaudited)
| Three Months Ended | Nine Months Ended | ||||||||||||||||||
| September 30,
2023 | July 1,
2023 | September 24,
2022 | September 30,
2023 | September 24,
2022 | |||||||||||||||
| Net revenue | $ | 5,800 | $ | 5,359 | $ | 5,565 | $ | 16,512 | $ | 18,002 | |||||||||
| Cost of sales | 2,843 | 2,704 | 2,799 | 8,236 | 8,797 | ||||||||||||||
| Amortization of acquisition-related intangibles | 210 | 212 | 412 | 727 | 1,005 | ||||||||||||||
| Total cost of sales | 3,053 | 2,916 | 3,211 | 8,963 | 9,802 | ||||||||||||||
| Gross profit | 2,747 | 2,443 | 2,354 | 7,549 | 8,200 | ||||||||||||||
| Gross margin | 47 | % | 46 | % | 42 | % | 46 | % | 46 | % | |||||||||
| Research and development | 1,507 | 1,443 | 1,279 | 4,361 | 3,639 | ||||||||||||||
| Marketing, general and administrative | 576 | 547 | 557 | 1,708 | 1,746 | ||||||||||||||
| Amortization of acquisition-related intangibles | 450 | 481 | 590 | 1,449 | 1,499 | ||||||||||||||
| Licensing gain | (10 | ) | (8 | ) | (8 | ) | (28 | ) | (97 | ) | |||||||||
| Operating income (loss) | 224 | (20 | ) | (64 | ) | 59 | 1,413 | ||||||||||||
| Interest expense | (26 | ) | (28 | ) | (31 | ) | (79 | ) | (69 | ) | |||||||||
| Other income (expense), net | 59 | 46 | 22 | 148 | (24 | ) | |||||||||||||
| Income (loss) before income taxes and equity income | 257 | (2 | ) | (73 | ) | 128 | 1,320 | ||||||||||||
| Income tax provision (benefit) | (39 | ) | (23 | ) | (135 | ) | (49 | ) | 32 | ||||||||||
| Equity income in investee | 3 | 6 | 4 | 10 | 11 | ||||||||||||||
| Net income | $ | 299 | $ | 27 | $ | 66 | $ | 187 | $ | 1,299 | |||||||||
| Earnings per share | |||||||||||||||||||
| Basic | $ | 0.18 | $ | 0.02 | $ | 0.04 | $ | 0.12 | $ | 0.84 | |||||||||
| Diluted | $ | 0.18 | $ | 0.02 | $ | 0.04 | $ | 0.11 | $ | 0.84 | |||||||||
| Shares used in per share calculation | |||||||||||||||||||
| Basic | 1,616 | 1,612 | 1,615 | 1,613 | 1,542 | ||||||||||||||
| Diluted | 1,629 | 1,627 | 1,625 | 1,625 | 1,555 | ||||||||||||||
