ADVANCED MICRO DEVICES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Millions except per share amounts and percentages) (Unaudited)
| Three Months Ended | Nine Months Ended | ||||||||||||||||||
| September 28,
2024 | June 29,
2024 | September 30,
2023 | September 28,
2024 | September 30,
2023 | |||||||||||||||
| Net revenue | $ | 6,819 | $ | 5,835 | $ | 5,800 | $ | 18,127 | $ | 16,512 | |||||||||
| Cost of sales | 3,167 | 2,740 | 2,843 | 8,590 | 8,236 | ||||||||||||||
| Amortization of acquisition-related intangibles | 233 | 231 | 210 | 694 | 727 | ||||||||||||||
| Total cost of sales | 3,400 | 2,971 | 3,053 | 9,284 | 8,963 | ||||||||||||||
| Gross profit | 3,419 | 2,864 | 2,747 | 8,843 | 7,549 | ||||||||||||||
| Gross margin | 50 | % | 49 | % | 47 | % | 49 | % | 46 | % | |||||||||
| Research and development | 1,636 | 1,583 | 1,507 | 4,744 | 4,361 | ||||||||||||||
| Marketing, general and administrative | 721 | 650 | 576 | 1,991 | 1,708 | ||||||||||||||
| Amortization of acquisition-related intangibles | 352 | 372 | 450 | 1,116 | 1,449 | ||||||||||||||
| Licensing gain | (14 | ) | (10 | ) | (10 | ) | (37 | ) | (28 | ) | |||||||||
| Operating income | 724 | 269 | 224 | 1,029 | 59 | ||||||||||||||
| Interest expense | (23 | ) | (25 | ) | (26 | ) | (73 | ) | (79 | ) | |||||||||
| Other income (expense), net | 36 | 55 | 59 | 144 | 148 | ||||||||||||||
| Income before income taxes and equity income | 737 | 299 | 257 | 1,100 | 128 | ||||||||||||||
| Income tax provision (benefit) | (27 | ) | 41 | (39 | ) | (38 | ) | (49 | ) | ||||||||||
| Equity income in investee | 7 | 7 | 3 | 21 | 10 | ||||||||||||||
| Net income | $ | 771 | $ | 265 | $ | 299 | $ | 1,159 | $ | 187 | |||||||||
| Earnings per share | |||||||||||||||||||
| Basic | $ | 0.48 | $ | 0.16 | $ | 0.18 | $ | 0.72 | $ | 0.12 | |||||||||
| Diluted | $ | 0.47 | $ | 0.16 | $ | 0.18 | $ | 0.71 | $ | 0.11 | |||||||||
| Shares used in per share calculation | |||||||||||||||||||
| Basic | 1,620 | 1,618 | 1,616 | 1,619 | 1,613 | ||||||||||||||
| Diluted | 1,636 | 1,637 | 1,629 | 1,638 | 1,625 | ||||||||||||||
