ADVANCED MICRO DEVICES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Millions except per share amounts and percentages) (Unaudited)
| Three Months Ended | Nine Months Ended | |||||||||||||||||||
| September 26,
2020 | June 27,
2020 | September 28,
2019 | September 26,
2020 | September 28,
2019 | ||||||||||||||||
| Net revenue | $ | 2,801 | $ | 1,932 | $ | 1,801 | $ | 6,519 | $ | 4,604 | ||||||||||
| Cost of sales | 1,571 | 1,084 | 1,024 | 3,623 | 2,685 | |||||||||||||||
| Gross profit | 1,230 | 848 | 777 | 2,896 | 1,919 | |||||||||||||||
| Gross margin | 44 | % | 44 | % | 43 | % | 44 | % | 42 | % | ||||||||||
| Research and development | 508 | 460 | 406 | 1,410 | 1,152 | |||||||||||||||
| Marketing, general and administrative | 273 | 215 | 185 | 687 | 544 | |||||||||||||||
| Licensing gain | — | — | — | — | (60 | ) | ||||||||||||||
| Operating income | 449 | 173 | 186 | 799 | 283 | |||||||||||||||
| Interest expense | (11 | ) | (14 | ) | (24 | ) | (38 | ) | (76 | ) | ||||||||||
| Other income (expense), net | (37 | ) | 1 | (36 | ) | (32 | ) | (40 | ) | |||||||||||
| Income before income taxes and equity income | 401 | 160 | 126 | 729 | 167 | |||||||||||||||
| Income tax provision (benefit) | 12 | 4 | 7 | 22 | (4 | ) | ||||||||||||||
| Equity income in investee | 1 | 1 | 1 | 2 | — | |||||||||||||||
| Net Income | $ | 390 | $ | 157 | $ | 120 | $ | 709 | $ | 171 | ||||||||||
| Earnings per share | ||||||||||||||||||||
| Basic | $ | 0.33 | $ | 0.13 | $ | 0.11 | $ | 0.60 | $ | 0.16 | ||||||||||
| Diluted | $ | 0.32 | $ | 0.13 | $ | 0.11 | $ | 0.59 | $ | 0.15 | ||||||||||
| Shares used in per share calculation | ||||||||||||||||||||
| Basic | 1,184 | 1,174 | 1,097 | 1,176 | 1,075 | |||||||||||||||
| Diluted | 1,215 | 1,227 | 1,117 | 1,208 | 1,107 | |||||||||||||||
