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Q3 2013 Results
AMD revenue $1.46 billion, increased 26 percent sequentially and 15 percent year-over-year
Gross margin 36 percent
Operating income of $95 million and non-GAAP(1) operating income of $78 million
Net income of $48 million, earnings per share of $0.06 and non-GAAP(1) net income of $31 million, earnings per share of $0.04
Quarterly Financial Summary
Gross margin was 36 percent in Q3 2013.
Gross margin decreased sequentially. Q3 2013 gross margin included a $19 million benefit, approximately 1 percentage point, from the sale of inventory that had been previously reserved in Q3 2012 as compared to a similar $11 million benefit, approximately 1 percentage point, in Q2 2013.
Cash, cash equivalents and marketable securities balance, including long-term marketable securities, was $1.2 billion at the end of the quarter, slightly above our targeted optimal level of $1.1 billion.
Computing Solutions segment revenue decreased 6 percent sequentially and decreased 15 percent year-over-year. The sequential and year-over-year declines were due to decreased notebook and chipset unit shipments, partially offset by an increase in desktop unit shipments.
Operating income was $22 million, compared with operating income of $2 million in Q2 2013 and an operating loss of $114 million in Q3 2012. The Q3 2012 operating loss included an inventory write-down of approximately $100 million primarily consisting of first generation A-Series accelerated processing units (APUs).
Microprocessor Average Selling Price (ASP) was flat sequentially and decreased year-over-year.
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Graphics and Visual Solutions (GVS) is comprised of graphics processing units (GPUs), including professional graphics, as well as semi-custom products and development and game console royalties.
GVS segment revenue increased 110 percent sequentially and increased 96 percent year-over-year driven largely by our semi-custom business. GPU revenue declined sequentially and year-over-year. In the third quarter customers began transitioning to our new products late in the quarter.
Operating income was $79 million compared with breakeven in Q2 2013 and $18 million in Q3 2012.
GPU ASP decreased sequentially and year-over-year.
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Not bad. Now they have time to execute their R&D pipeline.
Q3 2013 Results
AMD revenue $1.46 billion, increased 26 percent sequentially and 15 percent year-over-year
Gross margin 36 percent
Operating income of $95 million and non-GAAP(1) operating income of $78 million
Net income of $48 million, earnings per share of $0.06 and non-GAAP(1) net income of $31 million, earnings per share of $0.04
Quarterly Financial Summary
Gross margin was 36 percent in Q3 2013.
Gross margin decreased sequentially. Q3 2013 gross margin included a $19 million benefit, approximately 1 percentage point, from the sale of inventory that had been previously reserved in Q3 2012 as compared to a similar $11 million benefit, approximately 1 percentage point, in Q2 2013.
Cash, cash equivalents and marketable securities balance, including long-term marketable securities, was $1.2 billion at the end of the quarter, slightly above our targeted optimal level of $1.1 billion.
Computing Solutions segment revenue decreased 6 percent sequentially and decreased 15 percent year-over-year. The sequential and year-over-year declines were due to decreased notebook and chipset unit shipments, partially offset by an increase in desktop unit shipments.
Operating income was $22 million, compared with operating income of $2 million in Q2 2013 and an operating loss of $114 million in Q3 2012. The Q3 2012 operating loss included an inventory write-down of approximately $100 million primarily consisting of first generation A-Series accelerated processing units (APUs).
Microprocessor Average Selling Price (ASP) was flat sequentially and decreased year-over-year.
==========================
Graphics and Visual Solutions (GVS) is comprised of graphics processing units (GPUs), including professional graphics, as well as semi-custom products and development and game console royalties.
GVS segment revenue increased 110 percent sequentially and increased 96 percent year-over-year driven largely by our semi-custom business. GPU revenue declined sequentially and year-over-year. In the third quarter customers began transitioning to our new products late in the quarter.
Operating income was $79 million compared with breakeven in Q2 2013 and $18 million in Q3 2012.
GPU ASP decreased sequentially and year-over-year.
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Not bad. Now they have time to execute their R&D pipeline.
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