― Account quarterly earnings of $4.8B up 49% y/y; Account elephantine 300 and sixty five days earnings of $16.4B up 68%;
Immoral margin expanded and dealing profits greater than doubled from prior 300 and sixty five days ―

SANTA CLARA, Calif., Feb. 01, 2022 (GLOBE NEWSWIRE) — AMD (NASDAQ:AMD) on the present time announced earnings for the fourth quarter of 2021 of $4.8 billion, working profits of $1.2 billion, procure profits of $974 million and diluted earnings per piece of $0.80. On a non-GAAP^(*) foundation, working profits became as soon as $1.3 billion, procure profits became as soon as $1.1 billion and diluted earnings per piece became as soon as $0.92.

For elephantine 300 and sixty five days 2021, the company reported earnings of $16.4 billion, working profits of $3.6 billion, procure profits of $3.2 billion and diluted earnings per piece of $2.57. On a non-GAAP^(*) foundation, working profits became as soon as $4.1 billion, procure profits became as soon as $3.4 billion and diluted earnings per piece became as soon as $2.79.

GAAP Quarterly Financial Outcomes

	Q4 2021	Q4 2020	Y/Y	Q3 2021	Q/Q
Income ($M)	$4,826	$3,244	Up 49%	$4,313	Up 12%
Immoral earnings ($M)	$2,426	$1,451	Up 67%	$2,086	Up 16%
Immoral margin %	50%	45%	Up 560 bps	48%	Up 190 bps
Operating costs ($M)	$1,223	$881	Up 39%	$1,141	Up 7%
Operating profits ($M)	$1,207	$570	Up 112%	948	Up 27%
Operating margin %	25%	18%	Up 7pp	22%	Up 3pp
Tax valuation allowance liberate aid ($M)(1)	–	$1,301	–	–	–
Get profits ($M)	$974	$1,781	Down 45%	$923	Up 6%
Earnings per piece(1)	$0.80	$1.45	Down 45%	$0.75	Up 7%

Non-GAAP^(*) Quarterly Financial Outcomes

	Q4 2021	Q4 2020	Y/Y	Q3 2021	Q/Q
Income ($M)	$4,826	$3,244	Up 49%	$4,313	Up 12%
Immoral earnings ($M)	$2,427	$1,452	Up 67%	$2,087	Up 16%
Immoral margin %	50%	45%	Up 560 bps	48%	Up 190 bps
Operating costs ($M)	$1,103	$789	Up 40%	$1,035	Up 7%
Operating profits ($M)	$1,328	$663	Up 100%	$1,055	Up 26%
Operating margin %	27%	20%	Up 7pp	24%	Up 3pp
Get profits ($M)	$1,122	$636	Up 76%	$893	Up 26%
Earnings per piece	$0.92	$0.52	Up 77%	$0.73	Up 26%

Annual Financial Outcomes

	GAAP			Non-GAAP(*)
	2021	2020	Y/Y	2021	2020	Y/Y
Income ($M)	$16,434	$9,763	Up 68%	$16,434	$9,763	Up 68%
Immoral earnings ($M)	$7,929	$4,347	Up 82%	$7,934	$4,353	Up 82%
Immoral margin %	48%	45%	Up 370 bps	48%	45%	Up 370bps
Operating costs ($M)	$4,293	$2,978	Up 44%	$3,877	$2,696	Up 44%
Operating profits ($M)	$3,648	$1,369	Up 166%	$4,069	$1,657	Up 146%
Operating margin %	22%	14%	Up 8pp	25%	17%	Up 8pp
Tax valuation allowance liberate aid ($M)(1)	–	$1,301	–	–	–	–
Get profits ($M)	$3,162	$2,490	Up 27%	$3,435	$1,575	Up 118%
Earnings per piece(1)	$2.57	$2.06	Up 25%	$2.79	$1.29	Up 117%

(1)	The fourth quarter of 2020 integrated an profits tax aid of $1.3 billion linked to a valuation allowance liberate which contributed $1.06 per piece to EPS for Q4 2020 and $1.07 per piece to EPS for FY 2020 on a GAAP foundation.

“2021 became as soon as a great 300 and sixty five days for AMD with document annual earnings and profitability,” said AMD President and CEO Dr. Lisa Su. “Every of our agencies conducted extraordinarily successfully, with knowledge heart earnings doubling 300 and sixty five days-over-300 and sixty five days pushed by increasing adoption of AMD EPYC processors across cloud and enterprise customers. We query one other 300 and sixty five days of mighty enhance in 2022 as we ramp our present portfolio and begin our subsequent technology of PC, gaming and details heart merchandise.”

Q4 2021 Outcomes

• Income of $4.8 billion became as soon as up 49 percent 300 and sixty five days-over-300 and sixty five days and 12 percent quarter-over-quarter pushed by greater earnings in the Computing and Graphics and Venture, Embedded and Semi-Custom segments.
• Immoral margin became as soon as 50 percent, an lengthen of greater than 5 percentage aspects 300 and sixty five days-over-300 and sixty five days and roughly 2 percentage aspects quarter-over-quarter. The 300 and sixty five days-over-300 and sixty five days and quarter-over-quarter will enhance had been essentially pushed by a richer product mix.
• Operating profits became as soon as $1.2 billion when put next with $570 million a 300 and sixty five days ago and $948 million in the prior quarter. Non-GAAP working profits became as soon as $1.3 billion when put next with $663 million a 300 and sixty five days ago and $1.1 billion in the prior quarter. Operating profits improvements had been essentially pushed by greater earnings and execrable margin expansion.
• Get profits became as soon as $974 million when put next with $1.8 billion a 300 and sixty five days ago, which integrated a $1.3 billion profits tax aid linked to a valuation allowance liberate, and $923 million in the prior quarter. Non-GAAP procure profits became as soon as $1.1 billion when put next with $636 million a 300 and sixty five days ago and $893 million in the prior quarter.
• Diluted earnings per piece became as soon as $0.80 when put next with $1.45 a 300 and sixty five days ago, which integrated a $1.06 per piece profits tax aid, and $0.75 in the prior quarter. Non-GAAP diluted earnings per piece became as soon as $0.92 when put next with $0.52 a 300 and sixty five days ago and $0.73 in the prior quarter.
• Cash, money equivalents and momentary investments had been $3.6 billion on the end of the quarter. The company repurchased $756 million of classic stock all the arrangement by arrangement of the quarter.
• Cash from operations became as soon as $822 million in the quarter when put next with $554 million a 300 and sixty five days ago and $849 million in the prior quarter. Free money circulation became as soon as $736 million in the quarter when put next with $480 million a 300 and sixty five days ago and $764 million in the prior quarter. Fourth quarter money from operations and free money circulation integrated strategic investments in long-interval of time supply chain potential to aid future earnings enhance.

Quarterly Financial Segment Summary

• Computing and Graphics segment earnings became as soon as $2.6 billion, up 32 percent 300 and sixty five days-over-300 and sixty five days and up 8 percent quarter-over-quarter. The 300 and sixty five days-over-300 and sixty five days and quarter-over-quarter will enhance had been pushed by Ryzen™ and Radeon™ processor gross sales.
  • Consumer processor moderate selling trace (ASP) elevated 300 and sixty five days-over-300 and sixty five days and quarter-over-quarter attributable to a richer mix of Ryzen processor gross sales.
  • GPU ASP elevated 300 and sixty five days-over-300 and sixty five days essentially pushed by Radeon product gross sales and reduced quarter-over-quarter attributable to product mix.
  • Operating profits became as soon as $566 million when put next with $420 million a 300 and sixty five days ago and $513 million in the prior quarter. Operating profits improvements had been essentially pushed by greater earnings, in part offset by greater working costs.
• Venture, Embedded and Semi-Custom segment earnings became as soon as $2.2 billion, up 75 percent 300 and sixty five days-over-300 and sixty five days and 17 percent quarter-over-quarter pushed by greater EPYC™ and semi-customized processor gross sales.
  • Operating profits became as soon as $762 million when put next with $243 million a 300 and sixty five days ago and $542 million in the prior quarter. Operating profits improvements had been essentially pushed by greater earnings and richer product mix, in part offset by greater working costs.
• All Other working loss became as soon as $121 million as when put next with working losses of $93 million a 300 and sixty five days ago and $107 million in the prior quarter.

2021 Annual Outcomes

• Income of $16.4 billion became as soon as up 68 percent over 2020 pushed by greater earnings in the Computing and Graphics and Venture, Embedded and Semi-Custom segments.
• Immoral margin became as soon as 48 percent, an lengthen of greater than 3 percentage aspects over 2020. Immoral margin expansion became as soon as pushed by a richer mix of EPYC, Radeon and Ryzen processor gross sales.
• Operating profits became as soon as $3.6 billion when put next with $1.4 billion in the prior 300 and sixty five days. Non-GAAP working profits became as soon as $4.1 billion when put next with $1.7 billion in the prior 300 and sixty five days. The working profits enhance became as soon as essentially pushed by greater earnings and execrable margin expansion.
• Get profits became as soon as $3.2 billion when put next with $2.5 billion in the prior 300 and sixty five days, which integrated a $1.3 billion profits tax aid recorded in the fourth quarter of 2020. Non-GAAP procure profits became as soon as $3.4 billion when put next with $1.6 billion in the prior 300 and sixty five days.
• Diluted earnings per piece became as soon as $2.57 when put next with $2.06 in the prior 300 and sixty five days (which integrated a $1.07 per piece profits tax aid). Non-GAAP diluted earnings per piece became as soon as $2.79 when put next with $1.29 in the prior 300 and sixty five days.
• Cash, money equivalents and momentary investments had been $3.6 billion on the end of the 300 and sixty five days. The company repurchased $1.8 billion of classic stock all the arrangement by arrangement of 2021.
• Cash from operations became as soon as $3.5 billion when put next with $1.1 billion in the prior 300 and sixty five days. Free money circulation became as soon as $3.2 billion when put next with $777 million in the prior 300 and sixty five days. Annual money from operations and free money circulation in 2021 integrated strategic investments in long-interval of time supply chain potential to aid future earnings enhance.

Most unusual PR Highlights

• AMD announced it purchased approval from the Stutter Administration for Market Legislation (SAMR) of the Other folks’s Republic of China for the acquisition of Xilinx. AMD anticipates that the acquisition will conclude in the first quarter of 2022.
• AMD continues to pressure staunch momentum in the solutions heart with increasing adoption of extremely efficient AMD EPYC processors, AMD Intuition™ accelerators and details heart alternatives with fresh customers and expanded cloud offerings.
  • Leading cloud companies expanded their AMD-powered offerings with greater than 130 fresh public cases launching in the quarter including: Amazon Internet Products and companies, Inc. (AWS) launched the fresh Amazon EC2 Hpc6a cases that build excessive performance computing more accessible for customers with compute-intensive workloads and the fresh total-reason Amazon EC2 M6a cases; Google Cloud launched more than one total reason and compute- and memory-intensive cases; IBM Cloud launched fresh bare metal provider offerings for tense workloads and alternatives; and Microsoft Azure announced the most modern technology of Dasv5 and Easv5 Azure Virtual Machines (VMs) and fresh confidential VMs, DCasv5 and ECasv5.
  • AMD and Meta labored together to stipulate an start, cloud-scale, single-socket server per AMD EYPC CPUs for Meta’s most up-to-date “North Dome” programs with leadership performance-per-watt across major workloads.
  • AMD announced the fresh AMD Intuition MI200 sequence accelerators, the fastest accelerators for HPC and AI applications. The MI200 sequence accelerators are powering Oak Ridge Nationwide Laboratory’s Frontier supercomputer, the first Exascale supercomputer in the United States.
  • In the most modern High500 checklist, AMD now powers 73 supercomputers, a bigger than 3x lengthen when put next with the November 2020 checklist. AMD moreover powers four out of the waste 10 most extremely efficient supercomputers in the realm, as well to basically the most extremely efficient supercomputer in EMEA.
  • NVIDIA is adopting Ryzen™ Threadripper™ PRO processors to attend energy subsequent-technology cloud gaming experiences.
  • AMD announced the AMD Radeon PRO V620 GPU, handing over extremely efficient knowledge heart visible performance for 3D workloads, unusual place of job productivity applications and cloud gaming, including Tencent’s upcoming cloud gaming provider.
• At its 2022 Product Premiere match, AMD announced the AMD Ryzen 6000 Series processors, constructed on the extremely ambiance agreeable 6nm “Zen 3+” core structure, and including AMD RDNA™ 2 structure-essentially essentially based integrated graphics to present the fastest Ryzen cell processor abilities ever. AMD expects first machine availability initiating in February.
• AMD announced fresh updates to its graphics processor lineup and tool portfolio, including fresh AMD Radeon RX 6000M Series and AMD Radeon RX 6000S Series cell graphics for top payment and skinny-and-light gaming laptops, three fresh AMD Radeon RX 6000 Series desktop graphics playing cards for 1080p gaming, and AMD Radeon Substantial Resolution, a fresh driver-essentially essentially based spatial upscaling technology accessible in the upcoming change to the AMD System: Adrenalin Model utility.
• AMD delivered a major ogle at its subsequent wave of leadership knowledge heart and desktop PC processors that would possibly well unbiased the inch of business innovation.
  • AMD equipped a preview of 3^rd Gen AMD EPYC processors with AMD 3D V-Cache™, the “Zen 4” processor core powering the next technology of EPYC processors, codenamed “Genoa,” and the fresh “Zen 4c” processor core, which is designed for cloud native workloads and would possibly well serene energy the EPYC processor codenamed “Bergamo.”
  • AMD moreover announced the first AMD Ryzen processors with AMD 3D V-Cache technology to energy amazing gaming experiences and previewed its Ryzen 7000 Series processors, that is also per the 5nm “Zen 4” structure and are expected to be accessible in the second half of of 2022.
• AMD became as soon as known on Newsweek’s The United States’s Most To blame Companies 2022 checklist for environmental, social and corporate governance efforts.

Most unusual Outlook
AMD’s outlook statements are per present expectations. The next statements are ahead-having a cost and staunch results would possibly well fluctuate materially reckoning on market conditions and the elements unbiased forth below “Cautionary Statement” below.

For the first quarter of 2022, AMD expects earnings to be roughly $5.0 billion, plus or minus $100 million, an lengthen of roughly 45 percent 300 and sixty five days-over-300 and sixty five days and roughly 4 percent quarter-over-quarter. The 300 and sixty five days-over-300 and sixty five days lengthen is expected to be pushed by enhance across all agencies. The quarter-over-quarter lengthen is expected to be pushed by greater server and consumer processor earnings. AMD expects non-GAAP execrable margin to be roughly 50.5 percent in the first quarter of 2022.

For the elephantine 300 and sixty five days 2022, AMD expects earnings to be roughly $21.5 billion, an lengthen of roughly 31 percent over 2021 pushed by enhance across all agencies. AMD expects non-GAAP execrable margin to be roughly 51 percent for 2022.

AMD Teleconference
AMD will withhold a conference demand the financial neighborhood at 2: 00 p.m. PT (5: 00 p.m. ET) on the present time to discuss its fourth quarter and total 300 and sixty five days 2021 financial results. AMD will present an proper-time audio broadcast of the teleconference on the Investor Relatives page of its web predicament at www.amd.com.

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(In hundreds of thousands, with the exception of per piece knowledge) (Unaudited)
		Three Months Ended												300 and sixty five days Ended
		December 25, 2021				September 25, 2021				December 26, 2020				December 25, 2021				December 26, 2020
GAAP execrable earnings		$	2,426			$	2,086			$	1,451			$	7,929			$	4,347
GAAP execrable margin %			50	%			48	%			45	%			48	%			45	%
Stock-essentially essentially based compensation			1				1				1				5				6
Non-GAAP execrable earnings		$	2,427			$	2,087			$	1,452			$	7,934			$	4,353
Non-GAAP execrable margin %			50	%			48	%			45	%			48	%			45	%
GAAP working costs		$	1,223			$	1,141			$	881			$	4,293			$	2,978
GAAP working costs/earnings %			25	%			26	%			27	%			26	%			31	%
Stock-essentially essentially based compensation			111				98				78				374				268
Acquisition-linked costs			9				8				14				42				14
Non-GAAP working costs		$	1,103			$	1,035			$	789			$	3,877			$	2,696
Non-GAAP working costs/earnings%			23	%			24	%			24	%			24	%			28	%
GAAP working profits		$	1,207			$	948			$	570			$	3,648			$	1,369
GAAP working margin %			25	%			22	%			18	%			22	%			14	%
Stock-essentially essentially based compensation			112				99				79				379				274
Acquisition-linked costs			9				8				14				42				14
Non-GAAP working profits		$	1,328			$	1,055			$	663			$	4,069			$	1,657
Non-GAAP working margin %			27	%			24	%			20	%			25	%			17	%

		Three Months Ended																								300 and sixty five days Ended
		December 25, 2021								September 25, 2021								December 26, 2020								December 25, 2021								December 26, 2020
GAAP procure profits / earnings per piece		$	974			$	0.80			$	923			$	0.75			$	1,781			$	1.45			$	3,162			$	2.57			$	2,490			$	2.06
Loss on debt redemption/conversion			—				—				—				—				16				0.01				7				—				54				0.04
(Gains) losses on fairness investments, procure			(4	)			—				(60	)			(0.05	)			—				—				(56	)			(0.04	)			—				—
Non-money hobby expense linked to convertible debt			—				—				—				—				—				—				—				—				6				—
Stock-essentially essentially based compensation			112				0.09				99				0.08				79				0.06				379				0.31				274				0.22
Fairness profits in investee			—				—				(2	)			—				(3	)			—				(6	)			—				(5	)			—
Acquisition-linked costs			9				—				8				0.01				14				0.01				42				0.03				14				0.01
Open of valuation allowance on deferred tax resources			—				—				—				—				(1,301	)			(1.06	)			—				—				(1,301	)			(1.07	)
Earnings tax provision			31				0.03				(75	)			(0.06	)			50				0.05				(93	)			(0.08	)			43				0.03
Non-GAAP procure profits / earnings per piece		$	1,122			$	0.92			$	893			$	0.73			$	636			$	0.52			$	3,435			$	2.79			$	1,575			$	1.29
Shares worn and procure profits adjustment in earnings per piece calculation (1)
Shares worn in per piece calculation (GAAP)			1,222								1,230								1,226								1,229								1,207
Pastime expense add-attend to GAAP procure profits		$	—							$	—							$	—							$	—							$	1
Shares worn in per piece calculation (Non-GAAP)			1,222								1,230								1,232								1,229								1,228
Pastime expense add-attend to Non-GAAP procure profits		$	—							$	—							$	—							$	—							$	4

(1)		For the three months ended December 26, 2020, GAAP diluted EPS calculations consist of 3 million shares linked to the assumed conversion of the Firm’s 2026 Convertible Notes and the associated $0 million hobby expense add-attend to procure profits below the “if remodeled” formulation. For the 300 and sixty five days ended December 26, 2020, GAAP diluted EPS calculations consist of 3 million shares linked to the assumed conversion of the Firm’s 2026 Convertible Notes and the associated $1 million hobby expense add-attend to procure profits below the “if remodeled” formulation. For the three months ended December 26, 2020, Non-GAAP diluted EPS calculations consist of 9 million shares linked to the assumed conversion of the Firm’s 2026 Convertible Notes and the associated $0 million add-attend to procure profits below the “if remodeled” formulation. For the 300 and sixty five days ended December 26, 2020. Non-GAAP diluted EPS calculations consist of 24 million shares linked to the assumed conversion of the Firm’s 2026 Convertible Notes and the associated $4 million hobby expense add-attend to procure profits below the “if remodeled” formulation.

About AMD

For greater than 50 years, AMD has pushed innovation in excessive-performance computing, graphics and visualization applied sciences – the constructing blocks for gaming, immersive platforms and the solutions heart. A total bunch of hundreds of thousands of customers, main Fortune 500 agencies and cutting-edge scientific analysis companies everywhere in the realm depend upon AMD technology day-to-day to toughen how they’re living, work and play. AMD workers everywhere in the realm are taken with constructing superb merchandise that push the boundaries of what’s conceivable. For more knowledge about how AMD is enabling on the present time and galvanizing the next day, seek recommendation from the AMD (NASDAQ: AMD) web predicament, weblog, Facebook and Twitter pages.

Cautionary Statement

This press liberate includes ahead-having a cost statements touching on True Micro Devices, Inc. (AMD) such because the parts, functionality, performance, availability, timing and expected advantages of AMD merchandise; AMD’s expected first quarter 2022 and fiscal 2022 financial outlook, including earnings and non-GAAP execrable margin and expected drivers per present expectations; expected enhance in 2022; and the expected timing of the conclude of the Xilinx, Inc. transaction, which are made pursuant to the Protected Harbor provisions of the Interior most Securities Litigation Reform Act of 1995. Ahead-having a cost statements are continuously identified by phrases equivalent to “would,” “would possibly well,” “expects,” “believes,” “plans,” “intends,” “initiatives” and different terms with the same which implies. Traders are cautioned that the ahead-having a cost statements on this press liberate are per present beliefs, assumptions and expectations, tell only as of the date of this press liberate and involve dangers and uncertainties that would possibly well possibly unbiased off staunch results to fluctuate materially from present expectations. Such statements are field to sure known and unknown dangers and uncertainties, pretty just a few which are nice looking to foretell and in most cases previous AMD’s protect watch over, that would possibly well possibly unbiased off staunch results and different future events to fluctuate materially from these expressed in, or implied or projected by, the ahead-having a cost knowledge and statements. Discipline materials elements that would possibly well possibly unbiased off staunch results to fluctuate materially from present expectations consist of, without limitation, the next: Intel Company’s dominance of the microprocessor market and its aggressive industrial practices; global economic uncertainty; loss of a critical buyer; affect of the COVID-19 pandemic on AMD’s industrial, financial condition and results of operations; competitive markets whereby AMD’s merchandise are supplied; market conditions of the industries whereby AMD merchandise are supplied; cyclical nature of the semiconductor industrial; quarterly and seasonal gross sales patterns; AMD’s potential to adequately protect its technology or different intellectual property; disagreeable forex alternate payment fluctuations; potential of third occasion producers to fabricate AMD’s merchandise on a timely foundation in ample quantities and the utilization of competitive applied sciences; availability of a truly worthy gear, materials, substrates or manufacturing processes; potential to reach expected manufacturing yields for AMD’s merchandise; AMD’s potential to introduce merchandise on a timely foundation with expected parts and performance levels; AMD’s potential to generate earnings from its semi-customized SoC merchandise; seemingly safety vulnerabilities; seemingly safety incidents including IT outages, knowledge loss, knowledge breaches and cyber-assaults; uncertainties tantalizing the ordering and shipment of AMD’s merchandise; AMD’s reliance on third-occasion intellectual property to fetch and introduce fresh merchandise in a timely formulation; AMD’s reliance on third-occasion companies for fetch, manufacture and supply of motherboards, tool and different computer platform parts; AMD’s reliance on Microsoft and different tool vendors’ aid to fetch and make tool to trudge on AMD’s merchandise; AMD’s reliance on third-occasion distributors and add-in-board companions; affect of modification or interruption of AMD’s inside of industrial processes and details programs; compatibility of AMD’s merchandise with some or all industrial-no longer unusual tool and hardware; costs linked to rotten merchandise; effectivity of AMD’s supply chain; AMD’s potential to depend upon third occasion supply-chain logistics capabilities; AMD’s potential to successfully protect watch over gross sales of its merchandise on the grey market; affect of authorities actions and rules equivalent to export administration rules, tariffs and change protection measures; AMD’s potential to worth its deferred tax resources; seemingly tax liabilities; present and future claims and litigation; affect of environmental laws, battle minerals-linked provisions and different laws or rules; affect of acquisitions, joint ventures and/or investments on AMD’s industrial, including the announced acquisition of Xilinx, and potential to combine obtained agencies; AMD’s potential to full the Xilinx merger; affect of the announcement and pendency of the Xilinx merger on AMD’s industrial; affect of any impairment of the mixed company’s resources on the mixed company’s financial field and results of operation; restrictions imposed by agreements governing AMD’s notes and the revolving credit rating facility; AMD’s indebtedness; AMD’s potential to generate ample money to meet its working capital requirements or generate ample earnings and dealing money circulation to construct all of its planned R&D or strategic investments; political, superior, economic dangers and pure disasters; future impairments of goodwill and technology license purchases; AMD’s potential to plan and withhold noble personnel; AMD’s stock trace volatility; and worldwide political conditions. Traders are told to learn about intimately the dangers and uncertainties in AMD’s Securities and Alternate Rate filings, including nonetheless no longer restricted to AMD’s most most up-to-date experiences on Kinds 10-K and 10-Q.

On this earnings press liberate, as well to GAAP financial results, AMD has equipped non-GAAP financial measures including non-GAAP execrable earnings, non-GAAP working costs, non-GAAP working profits, non-GAAP procure profits and non-GAAP earnings per piece. AMD makes use of a normalized tax payment in its computation of the non-GAAP profits tax provision to present better consistency across the reporting classes. For fiscal 2021, AMD makes use of a non-GAAP tax payment of 15%, which excludes the tax affect of pre-tax non-GAAP changes. AMD moreover equipped adjusted EBITDA and free money circulation as supplemental non-GAAP measures of its performance. These items are outlined in the footnotes to the selected corporate knowledge tables equipped on the end of this earnings press liberate. AMD is providing these financial measures because it believes this non-GAAP presentation makes it more uncomplicated for investors to examine its working results for present and ancient classes and moreover because AMD believes it assists investors in evaluating AMD’s performance across reporting classes on a consistent foundation by other than items that it would no longer take into consideration are indicative of its core working performance and for the different causes described in the footnotes to the selected knowledge tables. The non-GAAP financial measures disclosed on this earnings press liberate would possibly well serene be considered as well to and never as an different for or pleasurable to AMD’s reported results willing per GAAP and would possibly well possibly be learn only in conjunction with AMD’s Consolidated Financial Statements willing per GAAP. These non-GAAP financial measures referenced are reconciled to their most at as soon as comparable GAAP financial measures in the solutions tables on the end of this earnings press liberate. This earnings press liberate moreover includes ahead-having a cost non-GAAP execrable margin touching on AMD’s financial outlook, which is per present expectations as of February 1, 2022 and assumptions and beliefs that involve a large preference of dangers and uncertainties. AMD undertakes no intent or responsibility to publicly change or revise its outlook statements because fresh knowledge, future events or in every other case, with the exception of as would possibly well possibly be required by regulation.

AMD, the AMD Arrow impress, EPYC, Radeon, Ryzen, Intuition, Threadripper and combos thereof, are trademarks of True Micro Devices, Inc. Other names are for informational capabilities only and worn to name companies and merchandise and would possibly well serene be trademarks of their respective owner.

ADVANCED MICRO DEVICES, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Hundreds and thousands with the exception of per piece amounts and percentages) (Unaudited)
		Three Months Ended												300 and sixty five days Ended
		December 25, 2021				September 25, 2021				December 26, 2020				December 25, 2021				December 26, 2020
Get earnings		$	4,826			$	4,313			$	3,244			$	16,434			$	9,763
Value of gross sales			2,400				2,227				1,793				8,505				5,416
Immoral earnings			2,426				2,086				1,451				7,929				4,347
Immoral margin %			50	%			48	%			45	%			48	%			45	%
Examine and pattern			811				765				573				2,845				1,983
Marketing, total and administrative			412				376				308				1,448				995
Licensing fetch			(4	)			(3	)			—				(12	)			—
Operating profits			1,207				948				570				3,648				1,369
Pastime expense			(8	)			(7	)			(9	)			(34	)			(47	)
Other profits (expense), procure			4				62				(15	)			55				(47	)
Earnings earlier than profits taxes and fairness profits			1,203				1,003				546				3,669				1,275
Earnings tax provision			229				82				(1,232	)			513				(1,210	)
Fairness profits in investee			—				2				3				6				5
Get Earnings		$	974			$	923			$	1,781			$	3,162			$	2,490
Earnings per piece
Fundamental		$	0.81			$	0.76			$	1.48			$	2.61			$	2.10
Diluted		$	0.80			$	0.75			$	1.45			$	2.57			$	2.06
Shares worn in per piece calculation
Fundamental			1,208				1,214				1,205				1,213				1,184
Diluted			1,222				1,230				1,226				1,229				1,207

ADVANCED MICRO DEVICES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (Hundreds and thousands) (Unaudited)
		December 25, 2021				December 26, 2020
ASSETS
Most unusual resources:
Cash and money equivalents		$	2,535			$	1,595
Short-interval of time investments			1,073				695
Accounts receivable, procure			2,706				2,066
Inventories			1,955				1,399
Receivables from linked events			2				10
Pay as you plug costs and different present resources			312				378
Total present resources			8,583				6,143
Property and tool, procure			702				641
Operating rent superior-of-use resources			367				208
Goodwill			289				289
Investment: fairness formulation			69				63
Deferred tax resources			931				1,245
Other non-present resources			1,478				373
Total Assets		$	12,419			$	8,962
LIABILITIES AND STOCKHOLDERS’ EQUITY
Most unusual liabilities:
Accounts payable			1,321				468
Payables to linked events			85				78
Collected liabilities			2,424				1,796
Short-interval of time debt			312				—
Other present liabilities			98				75
Total present liabilities			4,240				2,417
Lengthy-interval of time debt, procure			1				330
Lengthy-interval of time working rent liabilities			348				201
Other long-interval of time liabilities			333				177
Stockholders’ fairness:
Capital stock:
Fundamental stock, par trace			12				12
Extra paid-in capital			11,069				10,544
Treasury stock, at trace			(2,130	)			(131	)
Gathered deficit(1)			(1,451	)			(4,605	)
Gathered different total profits			(3	)			17
Total stockholders’ fairness		$	7,497			$	5,837
Total Liabilities and Stockholders’ fairness		$	12,419			$	8,962

(1)		Throughout the first quarter of 2021, the Firm adopted ASU 2019-12, Earnings Taxes (Subject 740): Simplifying the Accounting for Earnings Taxes, the utilization of the modified retrospective adoption formulation, which resulted in $8 million of deferred tax prison responsibility linked to e book-tax differences in a international fairness formulation investment known in Gathered deficit.

ADVANCED MICRO DEVICES, INC. SELECTED CASH FLOW INFORMATION (Hundreds and thousands) (Unaudited)
		Three Months Ended												300 and sixty five days Ended
		December 25, 2021				September 25, 2021				December 26, 2020				December 25, 2021				December 26, 2020
Get money equipped by (worn in)
Operating actions		$	822			$	849			$	554			$	3,521			$	1,071
Investing actions		$	—			$	(83	)		$	(294	)		$	(686	)		$	(952	)
Financing actions		$	(727	)		$	(949	)		$	35			$	(1,895	)		$	6

SELECTED CORPORATE DATA (Hundreds and thousands) (Unaudited)
		Three Months Ended												300 and sixty five days Ended
		December 25, 2021				September 25, 2021				December 26, 2020				December 25, 2021				December 26, 2020
Segment and Category Files
Computing and Graphics(1)
Get earnings		$	2,584			$	2,398			$	1,960			$	9,332			$	6,432
Operating profits		$	566			$	513			$	420			$	2,090			$	1,266
Venture, Embedded and Semi-Custom(2)
Get earnings		$	2,242			$	1,915			$	1,284			$	7,102			$	3,331
Operating profits		$	762			$	542			$	243			$	1,979			$	391
All Other(3)
Get earnings		$	—			$	—			$	—			$	—			$	—
Operating loss		$	(121	)		$	(107	)		$	(93	)		$	(421	)		$	(288	)
Total
Get earnings		$	4,826			$	4,313			$	3,244			$	16,434			$	9,763
Operating profits		$	1,207			$	948			$	570			$	3,648			$	1,369
Other Files
Capital expenditures		$	86			$	85			$	74			$	301			$	294
Adjusted EBITDA(4)		$	1,446			$	1,152			$	753			$	4,476			$	1,969
Cash, money equivalents and momentary investments		$	3,608			$	3,608			$	2,290			$	3,608			$	2,290
Free money circulation(5)		$	736			$	764			$	480			$	3,220			$	777
Total resources		$	12,419			$	11,153			$	8,962			$	12,419			$	8,962
Total debt		$	313			$	313			$	330			$	313			$	330

(1)		The Computing and Graphics segment, which essentially involves desktop and pocket e book processors and chipsets, discrete and integrated graphics processing items (GPUs), knowledge heart and skilled GPUs and pattern companies. On occasion, the Firm would possibly well moreover sell or license parts of its IP portfolio.
(2)		The Venture, Embedded and Semi-Custom segment, which essentially involves server and embedded processors, semi-customized Plan-on-Chip (SoC) merchandise, pattern companies and technology for game consoles. On occasion, the Firm would possibly well moreover sell or license parts of its IP portfolio.
(3)		All Other class essentially involves sure costs and credit rating which will no longer be allocated to any of the working segments. Also integrated on this class is stock-essentially essentially based compensation expense and acquisition-linked costs.
(4)		Reconciliation of GAAP Get Earnings to Adjusted EBITDA*

		Three Months Ended												300 and sixty five days Ended
		December 25, 2021				September 25, 2021				December 26, 2020				December 25, 2021				December 26, 2020
GAAP procure profits		$	974			$	923			$	1,781			$	3,162			$	2,490
Pastime expense			8				7				9				34				47
Other (profits) expense, procure			(4	)			(62	)			15				(55	)			47
Earnings tax provision (aid)			229				82				(1,232	)			513				(1,210	)
Fairness profits in investee			—				(2	)			(3	)			(6	)			(5	)
Stock-essentially essentially based compensation			112				99				79				379				274
Depreciation and amortization			118				97				90				407				312
Acquisition-linked costs			9				8				14				42				14
Adjusted EBITDA		$	1,446			$	1,152			$	753			$	4,476			$	1,969

(5)

Reconciliation of GAAP Get Cash Provided by Operating Activities to Free Cash Float

		Three Months Ended												300 and sixty five days Ended
		December 25, 2021				September 25, 2021				December 26, 2020				December 25, 2021				December 26, 2020
GAAP procure money equipped by working actions		$	822			$	849			$	554			$	3,521			$	1,071
Operating money circulation margin %			17	%			20	%			17	%			21	%			11	%
Purchases of property and tool			(86	)			(85	)			(74	)			(301	)			(294	)
Free money circulation		$	736			$	764			$	480			$	3,220			$	777
Free money circulation margin %			15	%			18	%			15	%			20	%			8	%

*		The Firm offers “Adjusted EBITDA” as a supplemental measure of its performance. Adjusted EBITDA for the Firm is dependent upon adjusting GAAP procure profits for hobby expense, different profits (expense), procure, profits tax provision, fairness profits in investee, stock-essentially essentially based compensation, and depreciation and amortization expense. The Firm moreover integrated acquisition-linked costs for the three months ended December 25, 2021, September 25, 2021 and December 26, 2020, and for the 300 and sixty five days ended December 25, 2021 and December 26, 2020. The Firm calculates and offers Adjusted EBITDA because administration believes it is of significance to investors and lenders when it comes to its total capital structure and its potential to borrow extra funds. To boot, the Firm offers Adjusted EBITDA because it believes this measure assists investors in evaluating its performance across reporting classes on a consistent foundation by other than items that the Firm would no longer take into consideration are indicative of its core working performance. The Firm’s calculation of Adjusted EBITDA would possibly well or would possibly well possibly no longer be per the calculation of this measure by different companies in the identical industrial. Traders would possibly well serene no longer glimpse Adjusted EBITDA as an different to the GAAP working measure of profits or GAAP liquidity measures of money flows from working, investing and financing actions. To boot, Adjusted EBITDA would no longer take into memoir changes in sure resources and liabilities that can hold an impress on money flows.
		The Firm moreover offers free money circulation as a supplemental Non-GAAP measure of its performance. Free money circulation is dependent upon adjusting GAAP procure money equipped by working actions for capital expenditures. The Firm calculates and communicates free money circulation in the financial earnings press liberate because administration believes it is of significance to investors to worth the nature of these money flows. The Firm’s calculation of free money circulation would possibly well or would possibly well possibly no longer be per the calculation of this measure by different companies in the identical industrial. Traders would possibly well serene no longer glimpse free money circulation as an different to GAAP liquidity measures of money flows from working actions.
		The Firm has equipped reconciliations contained in the earnings press liberate of these Non-GAAP financial measures to basically the most at as soon as comparable GAAP financial measures.

Media Contact:
Drew Prairie
AMD Communications
512-602-4425
drew.prairie@amd.com 

Investor Contact:
Laura Graves
AMD Investor Relatives
408-749-5467
laura.graves@amd.com 

Source: True Micro Devices, Inc.

Launched February 1, 2022