Q4 2015 Results
o Revenue of $958 million, down 10 percent sequentially primarily driven by seasonally lower sales of semi-custom SoCs and down 23 percent year-over-year, primarily due to lower client processor sales.
o Gross margin of 30 percent, up 7 percentage points sequentially. Q3 2015 gross margin was negatively impacted by an inventory write-down of $65 million, or 6 percentage points. Excluding the Q3 2015 inventory write-down, non-GAAP gross margin improved 1 percentage point sequentially, primarily due to improved product mix in the Computing and Graphics segment.
o Operating loss of $49 million, compared to an operating loss of $158 million for the prior quarter. Non-GAAP(1) operating loss of $39 million, compared to non-GAAP(1) operating loss of $97 million in Q3 2015, primarily due to higher gross margin and lower operating expenses.
o Net loss of $102 million, loss per share of $0.13, and non-GAAP(1) net loss of $79million, non-GAAP(1) loss per share of $0.10, compared to a net loss of $197 million, loss per share of $0.25 and non-GAAP(1) net loss of $136 million, non-GAAP(1) loss per share of $0.17 in Q3 2015.
o Cash and cash equivalents were $785 million at the end of the quarter, up $30million from the end of the prior quarter, primarily due to improved operating cashflow.
o Total debt at the end of the quarter was $2.26 billion, flat from the end of the prior
quarter.
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They are back to losing market share. R&D also got a small hit. Q1 guidance was waaaay too soft. On a bright node they managed to scrap a small positive operating cash flow.
o Revenue of $958 million, down 10 percent sequentially primarily driven by seasonally lower sales of semi-custom SoCs and down 23 percent year-over-year, primarily due to lower client processor sales.
o Gross margin of 30 percent, up 7 percentage points sequentially. Q3 2015 gross margin was negatively impacted by an inventory write-down of $65 million, or 6 percentage points. Excluding the Q3 2015 inventory write-down, non-GAAP gross margin improved 1 percentage point sequentially, primarily due to improved product mix in the Computing and Graphics segment.
o Operating loss of $49 million, compared to an operating loss of $158 million for the prior quarter. Non-GAAP(1) operating loss of $39 million, compared to non-GAAP(1) operating loss of $97 million in Q3 2015, primarily due to higher gross margin and lower operating expenses.
o Net loss of $102 million, loss per share of $0.13, and non-GAAP(1) net loss of $79million, non-GAAP(1) loss per share of $0.10, compared to a net loss of $197 million, loss per share of $0.25 and non-GAAP(1) net loss of $136 million, non-GAAP(1) loss per share of $0.17 in Q3 2015.
o Cash and cash equivalents were $785 million at the end of the quarter, up $30million from the end of the prior quarter, primarily due to improved operating cashflow.
o Total debt at the end of the quarter was $2.26 billion, flat from the end of the prior
quarter.
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They are back to losing market share. R&D also got a small hit. Q1 guidance was waaaay too soft. On a bright node they managed to scrap a small positive operating cash flow.