AMD Reports Fourth Quarter and Full Year 2021 Financial Results

― Record quarterly revenue of $4.8B up 49% y/y; Record full year revenue of $16.4B up 68%;
Gross margin expanded and operating income more than doubled from prior year ―

SANTA CLARA, Calif., Feb. 01, 2022 (GLOBE NEWSWIRE) -- AMD (NASDAQ:AMD) today announced revenue for the fourth quarter of 2021 of $4.8 billion, operating income of $1.2 billion, net income of $974 million and diluted earnings per share of $0.80. On a non-GAAP⁽^*⁾ basis, operating income was $1.3 billion, net income was $1.1 billion and diluted earnings per share was $0.92.

For full year 2021, the company reported revenue of $16.4 billion, operating income of $3.6 billion, net income of $3.2 billion and diluted earnings per share of $2.57. On a non-GAAP⁽^*⁾ basis, operating income was $4.1 billion, net income was $3.4 billion and diluted earnings per share was $2.79.

GAAP Quarterly Financial Results

	Q4 2021	Q4 2020	Y/Y	Q3 2021	Q/Q
Revenue ($M)	$4,826	$3,244	Up 49%	$4,313	Up 12%
Gross profit ($M)	$2,426	$1,451	Up 67%	$2,086	Up 16%
Gross margin %	50%	45%	Up 560 bps	48%	Up 190 bps
Operating expenses ($M)	$1,223	$881	Up 39%	$1,141	Up 7%
Operating income ($M)	$1,207	$570	Up 112%	948	Up 27%
Operating margin %	25%	18%	Up 7pp	22%	Up 3pp
Tax valuation allowance release benefit ($M) ⁽ ¹⁾	-	$1,301	-	-	-
Net income ($M)	$974	$1,781	Down 45%	$923	Up 6%
Earnings per share ⁽ ¹⁾	$0.80	$1.45	Down 45%	$0.75	Up 7%

Non-GAAP <

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