NASDAQ stock

Advanced Micro Devices, Inc. (NASDAQ:AMD) 4Q2016 Revenue Surged 15% YoY

Advanced Micro Devices, Inc. (NASDAQ:AMD) reported revenue of $1.11 billion, net loss of $51 million and operating loss of $3 million in 4Q2016. Revenue was up 15% YoY, mainly due to increased GPU sales. However, it came 15% lower sequentially, mainly led by seasonally lower sales of company’s semi-custom SoCs.

The details

On a GAAP basis, Advanced Micro reported gross margin of 32%, up 2% YoY and up 27% sequentially as 3Q2016 gross margins were negatively impacted by a WSA charge amounting to $340 million. It was pertaining to the sixth amendment of the WSA with GLOBALFOUNDRIES.

The company posted operating loss of $3 million as against operating loss of $49 million in the same period, a year ago. Operating loss stood at $293 million in the previous quarter. The YoY improvement was mainly due to increased revenue and IP monetization licensing addition while the sequential enhancement is mainly due to no WSA charge counterbalance by lower 4Q2016 revenue.

Net loss came at $51 million as against the net loss of $102 million in the same period, a year ago. In the previous quarter, the net loss was $406 million. Loss per share amounted to $0.06 as against the loss per share of $0.13, in the same period a year ago. However, in the preceding quarter, the loss per share came at $0.50.

On a non-GAAP basis, gross margin came at 32%, up 2% points YoY and up 1% point sequentially mainly due to higher Graphics and Computing segment revenue. Also, operating income came at $26 million against an operating loss of $39 million, in the same period a year earlier. In the preceding quarter, it came at $70 million. The decline in operating income in 4Q2016 can be attributed to drop in revenue in the same period. Cash/cash equivalents came at $1.26 billion at the close of the quarter, a jump of $6 million from the close of the prior quarter.

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