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$3,244Up 49%$4,313Up 12%
Gross profit ($M)$2,426$1,451Up 67%$2,086Up 16%
Gross margin %50%45%Up 560 bps48%Up 190 bps
Operating expenses ($M)$1,223$881Up 39%$1,141Up 7%
Operating income ($M)$1,207$570Up 112%948Up 27%
Operating margin % 25% 18% Up 7pp 22% Up 3pp
Tax valuation allowance release benefit ($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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