AMD Reports Fourth Quarter and Full Year 2021 Financial Results

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ADVANCED MICRO DEVICES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Millions except per share amounts and percentages) (Unaudited)
     
  Three Months Ended Year Ended
  December 25,
2021
 September 25,
2021
 December 26,
2020
 December 25,
2021
 December 26,
2020
Net revenue $4,826  $4,313  $3,244  $16,434  $9,763 
Cost of sales  2,400   2,227   1,793   8,505   5,416 
Gross profit  2,426   2,086   1,451   7,929      4,347  
Gross margin %     50 %     48 %     45 %     48 %     45 %
Research and development     811       765       573       2,845       1,983  
Marketing, general and administrative     412       376       308       1,448       995  
Licensing gain     (4 )     (3 )           (12 )      
Operating income     1,207       948       570       3,648       1,369  
Interest expense     (8 )     (7 )     (9 )     (34 )     (47 )
Other income (expense), net     4       62       (15 )     55       (47 )
Income before income taxes and equity income     1,203       1,003       546       3,669       1,275  
Income tax provision     229       82       (1,232 )     513       (1,210 )
Equity income in investee           2       3       6       5  
Net Income   $ 974     $ 923     $ 1,781     $ 3,162     $ 2,490  
Earnings per share                    
Basic   $ 0.81     $ 0.76     $ 1.48     $ 2.61     $ 2.10  
Diluted   $ 0.80     $ 0.75     $ 1.45     $ 2.57     $ 2.06  
Shares used in per share calculation                    
Basic     1,208       1,214       1,205       1,213       1,184  
Diluted     1,222       1,230       1,226       1,229       1,207  
                                         

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