AMD Reports Second Quarter 2024 Financial Results


(1) The Data Center segment primarily includes server microprocessors (CPUs), graphics processing units (GPUs), accelerated processing units (APUs), data processing units (DPUs), Field Programmable Gate Arrays (FPGAs), Smart Network Interface Cards (SmartNICs), Artificial Intelligence (AI) accelerators and Adaptive System-on-Chip (SoC) products for data centers.
   
  The Client segment primarily includes CPUs, APUs, and chipsets for desktop, notebook and handheld personal computers.
   
  The Gaming segment primarily includes discrete GPUs, and semi-custom SoC products and development services.
   
  The Embedded segment primarily includes embedded CPUs, GPUs, APUs, FPGAs, System on Modules (SOMs), and Adaptive SoC products.
   
  From time to time, the Company may also sell or license portions of its IP portfolio.
   
  All Other category primarily includes certain expenses and credits that are not allocated to any of the operating segments, such as amortization of acquisition-related intangible asset, employee stock-based compensation expense, acquisition-related and other costs, inventory loss at contract manufacturer, and licensing gain.


(2)   Reconciliation of GAAP Net Income (loss) to Adjusted EBITDA


  Three Months Ended Six Months Ended
(Millions) (Unaudited) June 29,
2024
 March 30,
2024
 July 1,
2023
 June 29,
2024
 July 1,
2023
GAAP net income (loss) $265  $123  $27  $388  $(112)
Interest expense  25   25   28   50       53  
Other (income) expense, net     (55 )     (53 )     (46 )     (108 )     (89 )
Income tax provision (benefit)     41       (52 )     (23 )     (11 )     (10 )
Equity income in investee     (7 )     (7 )     (6 )     (14 )     (7 )
Stock-based compensation     346       371       348       717       653  
Depreciation and amortization     166       162       156       328       315  
Amortization of acquisition-related intangibles     603       622       693       1,225       1,516  
Inventory loss at contract manufacturer           65             65        
Acquisition-related and other costs     46       39       47       85       162  
Adjusted EBITDA   $ 1,430     $ 1,295     $ 1,224     $ 2,725     $ 2,481  
                                         

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