AMD Reports Fourth Quarter and Fiscal 2020 Financial Results

Weekend sports in brief

– Quarterly sales of $ 3.24 billion, up 53% year-on-year; Annual sales of $ 9.76 billion, up 45%; quarterly and annual net profit more than doubled compared to the previous year –

SANTA CLARA, Calif., January 26, 2021 (GLOBE NEWSWIRE) – AMD (NASDAQ:AMD) today reported fourth quarter 2020 revenue of $ 3.24 billion, operating income of $ 570 million, net income of $ 1.78 billion and diluted earnings per share of $ 1.45. Fourth quarter net income included an income tax benefit of $ 1.30 billion associated with the release of a valuation allowance, which contributed $ 1.06 to EPS. On a non-GAAP

On a basis, operating income was $ 663 million, net income was $ 636 million and diluted earnings per share was $ 0.52.

For the year 2020, the company reported revenue of $ 9.76 billion, operating profit of $ 1.37 billion, net profit of $ 2.49 billion, and diluted profit per share of $ 2.06. Full year results included a fourth quarter tax benefit of $ 1.30 billion associated with a release of valuation allowance, which contributed $ 1.07 to annual EPS. On a non-GAAP

On a basis, operating income was $ 1.66 billion, net income $ 1.58 billion, and diluted earnings per share was $ 1.29.

GAAP Quarterly Financial Results

Q4 2020

Q4 2019

Y / Y

Q3 2020

Q / Q

Revenue (M $)

$ 3,244

$ 2,127

Up 53%

$ 2,801

Up 16%

Gross profit (M $)

$ 1,451

$ 949

Up 53%

$ 1,230

Up 18%

Gross margin

45%

45%

Apartment

44%

Up to 1pp

Operating expenses (M $)

$ 881

$ 601

Up 47%

$ 781

Up 13%

Operating profit (M $)

$ 570

$ 348

64% increase

$ 449

Up 27%

Allowance to release the deduction for tax assessment ($ M)

$ 1,301

Net profit ($ M)

$ 1,781

$ 170

Up 948%

$ 390

Up 357%

Earnings per share

$ 1.45

$ 0.15

Up 867%

$ 0.32

Up 353%

Non-GAAP

Quarterly financial results

Q4 2020

Q4 2019

Y / Y

Q3 2020

Q / Q

Revenue (M $)

$ 3,244

$ 2,127

Up 53%

$ 2,801

Up 16%

Gross profit (M $)

$ 1,452

$ 950

Up 53%

$ 1,231

Up 18%

Gross margin

45%

45%

Apartment

44%

Up to 1pp

Operating expenses (M $)

$ 789

$ 545

Up 45%

$ 706

Up 12%

Operating profit (M $)

$ 663

$ 405

64% increase

$ 525

Up 26%

Net profit ($ M)

$ 636

$ 383

Up 66%

$ 501

Up 27%

Earnings per share

0.52 USD

$ 0.32

Up 63%

$ 0.41

Up 27%

Annual financial results

The story continues

GAAP

Non-GAAP

2020

2019

Y / Y

2020

2019

Y / Y

Revenue (M $)

$ 9,763

$ 6,731

Up 45%

$ 9,763

$ 6,731

Up 45%

Gross profit (M $)

$ 4,347

$ 2,868

Up 52%

$ 4,353

$ 2,874

Up 51%

Gross margin

45%

43%

Up to 2pp

45%

43%

Up to 2pp

Operating expenses (M $)

$ 2,978

$ 2,297

Up to 30%

$ 2,696

$ 2,094

Up 29%

Operating profit (M $)

$ 1,369

$ 631

Up 117%

$ 1,657

$ 840

Up 97%

Compensation for the release of the deduction for tax assessment (M $)

$ 1,301

Net profit ($ M)

$ 2,490

$ 341

Up 630%

$ 1,575

$ 756

Up 108%

Earnings per share

$ 2.06

$ 0.30

Up 587%

$ 1.29

  • $ 0.64

Up 102% “We have significantly accelerated our business in 2020, generating record annual revenue while increasing gross margin and more than doubling net income as of 2019,” said Dr. Lisa Su, Chairman and CEO of AMD. “Our 2021 financial outlook underscores the strength of our product portfolio and strong demand for high performance computing in the PC, gaming and data center markets. We are excited about the opportunities ahead and very confident in our long term strategy as we continue to execute our leadership product roadmaps. Q4 2020 Results Revenue of $ 3.24 billion increased 53% year over year and 16% …

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