AMD’s outlook statements are based on current expectations. The following statements are forward-looking and actual results could differ materially depending on market conditions and the factors set forth under “Cautionary Statement” below.
For the third quarter of 2022, AMD expects revenue to be approximately $6.7 billion, plus or minus $200 million, an increase of approximately 55% year-over-year led by growth in the Data Center and Embedded segments. AMD expects non-GAAP gross margin to be approximately 54% in the third quarter of 2022.
For the full year 2022, AMD continues to expect revenue to be approximately $26.3 billion, plus or minus $300 million, an increase of approximately 60% over 2021 led by growth in the Data Center and Embedded segments. AMD continues to expect non-GAAP gross margin to be approximately 54% for 2022.
AMD Teleconference
AMD will hold a conference call for the financial community at 2:00 p.m. PT (5:00 p.m. ET) today to discuss its second quarter 2022 financial results. AMD will provide a real-time audio broadcast of the teleconference on the Investor Relations page of its website at www.amd.com.
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RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES | |||||||||
| (in millions, except per share data) (Unaudited) | |||||||||
| Three Months Ended | |||||||||
|
June 25,
2022 |
June 26,
2021 | ||||||||
| GAAP gross profit | $ | 3,028 | $ | 1,830 | |||||
| GAAP gross margin % | 46 | % | 48 | % | |||||
| Stock-based compensation | 8 | 2 | |||||||
| Acquisition-related costs (1) | 95 | — | |||||||
| Amortization of acquired intangible assets | 407 | — | |||||||
| Non-GAAP gross profit | $ | 3,538 | $ | 1,832 | |||||
| Non-GAAP gross margin % | 54 | % | 48 | % | |||||
| GAAP operating expenses | $ | 2,508 | $ | 1,000 | |||||
| GAAP operating expenses/revenue % | 38 | % | 26 | % | |||||
| Stock-based compensation | 251 | 81 | |||||||
| Acquisition-related costs (1) | 79 | 10 | |||||||
| Amortization of acquired intangible assets | 616 | — | |||||||
| Non-GAAP operating expenses | $ | 1,562 | $ | 909 | |||||
| Non-GAAP operating expenses/revenue % | 24 | % | 24 | % | |||||
| GAAP operating income | $ | 526 | $ | 831 | |||||
| GAAP operating margin % | 8 | % | 22 | % | |||||
| Stock-based compensation | 259 | 83 | |||||||
| Acquisition-related costs (1) | 174 | 10 | |||||||
| Amortization of acquired intangible assets | 1,023 | — | |||||||
| Non-GAAP operating income | $ | 1,982 | $ | 924 | |||||
| Non-GAAP operating margin % | 30 | % | 24 | % | |||||
