AMD’s full firepower: first-quarter revenue of $5.887 billion, net profit increased by 42% year-on-year

In the morning news on May 4th, Beijing time, AMD today announced the company’s first quarter financial report for fiscal year 2022. The report shows that AMD’s first-quarter revenue was $5.887 billion,A 71% increase from $3.445 billion a year earlieran increase of 22% compared with the previous quarter’s $4.826 billion; net profit was $786 million,A 42% increase from $555 million in the prior yeardown 19% from $974 million in the previous quarter; non-GAAP adjusted net income was $1.589 billion,148% increase from $642 million a year earlieran increase of 42% from the previous quarter’s $1.122 billion.

AMD’s first-quarter results exceeded Wall Street analysts’ previous expectations,Second-quarter revenue outlook also beat expectations and raised full-year revenue outlookwhich pushed its shares up nearly 5% after hours.

Main achievement:

In the quarter ended March 26, AMD’s net profit was $786 million, or $0.56 per diluted share, which was much better than a year earlier. In the first quarter of fiscal 2021, AMD’s net income was $555 million, or $0.45 per diluted share.

Excluding certain one-time items (not in accordance with GAAP), AMD’s adjusted net income in the first quarter was $1.589 billion, compared to adjusted net income of $642 million in the prior year period, an increase of 148% year-over-year. %; adjusted earnings per diluted share were $1.13, compared with adjusted earnings per share of $0.52 a year earlier, an increase of 117% year-over-year, exceeding analysts’ expectations. According to data provided by Yahoo Finance Channel, 10 analysts had expected AMD’s first-quarter earnings per share to reach $0.91 on average.

AMD’s first-quarter revenue was $5.887 billion, an increase of 71% compared with $3.445 billion in the same period last year and a 22% increase compared to $4.826 billion in the previous quarter, beating analyst expectations. According to data provided by Yahoo Finance,10 analysts on average expect AMD’s first-quarter revenue to reach $5.52 billion.

Excluding the results of the recently acquired Xilinx, AMD’s non-GAAP adjusted revenue in the first quarter was $5.328 billion, an increase of 55% compared to $3.445 billion in the same period last year. The quarter’s $4.826 billion was up 10%.

By business unit:

– AMD’s Computing and Graphics Products segment reported first-quarter revenue of $2.8 billion, up 33 percent from a year earlieran increase of 8% compared to the previous quarter; operating profit was $723 million, compared with $485 million a year earlier and $566 million in the previous quarter;

– AMD’s Enterprise, Embedded and Semi-Custom Products segment reported first-quarter revenue of $2.5 billion, an increase of 88% compared to the same period last year and an increase of 13% compared to the previous quarter; operating profit was $881 million, compared to The same period last year was $277 million and the previous quarter was $762 million;

– The Xilinx segment reported $559 million in partial revenue and $233 million in operating profit in the first quarter (since the acquisition closed);

– AMD’s operating loss in all other divisions was $886 million in the first quarter, compared to an operating loss of $100 million a year earlier and an operating loss of $121 million in the prior quarter.

AMD’s first-quarter operating profit was $951 million, an increase of 44% compared with operating profit of $662 million in the same period last year, and a 21% decrease compared to operating profit of $1.207 billion in the previous quarter. Excluding certain one-time items (not in accordance with GAAP), AMD’s adjusted operating profit in the first quarter was $1.837 billion, an increase of 141% compared to $762 million in the prior year, and an increase of 13.28 in the prior quarter billion dollars, an increase of 38%.

Excluding the results of the recently acquired Xilinx, AMD’s non-GAAP adjusted operating profit in the first quarter was $1.604 billion, an increase of 110% compared to $762 million in the same period last year The quarter’s $1.328 billion was an increase of 21%.

AMD’s operating margin in the first quarter was 16%, down 3 points from 19% in the prior year and down 9 points from 25% in the prior quarter. Excluding certain one-time items (not in accordance with GAAP), AMD’s adjusted operating margin was 31% in the first quarter, up 9 percentage points from 22% in the prior year and 27% in the prior quarter. % compared to an increase of 4 percentage points.

Excluding the results of the recently acquired Xilinx, AMD’s non-GAAP adjusted operating margin in the first quarter was 30%, up 8 percentage points from 22% in the prior year 27% in the quarter, up 3 percentage points from the previous quarter.

AMD’s first-quarter gross profit was $2.818 billion, an increase of 78% compared to $1.587 billion in the same period last year and a 16% increase compared to $2.426 billion in the previous quarter. Excluding certain one-time items (not in accordance with GAAP), AMD’s adjusted gross profit in the first quarter was $3.100 billion, an increase of 95% compared to $1.588 billion in the prior year period, and an increase of 95% compared to $2.427 billion in the prior quarter billion dollars, an increase of 28%.

Excluding the results of the recently acquired Xilinx, AMD’s non-GAAP adjusted gross profit in the first quarter was $2.712 billion, an increase of 71% compared to $1.588 billion in the same period last year. The quarter’s $2.427 billion was an increase of 12%.

AMD’s gross margin was 48% in the first quarter, up 190 basis points from 46% a year earlier and down 240 basis points from 50% in the prior quarter. Excluding certain one-time items (not in accordance with GAAP), AMD’s first-quarter adjusted gross margin was 53%, up 660 basis points from 46% in the prior year and 50% in the prior quarter Compared with the increase of 240 basis points.

Excluding the results of the recently acquired Xilinx, AMD’s non-GAAP adjusted gross margin was 51% in the first quarter, up 480 basis points from 46% in the prior-year quarter 50% compared to an increase of 60 basis points.

AMD’s operating expenses in the first quarter were $1.950 billion, an increase of 110% compared to $929 million in the same period last year and a 59% increase compared to $1.223 billion in the previous quarter. in,R&D spending was $1.060 billion, compared to $610 million in the prior year and $811 million in the prior quarter; marketing, general and administrative expenses were $597 million, compared to $319 million in the prior year and $412 million in the prior quarter Dollar. Excluding certain one-time items (not in accordance with GAAP), AMD’s adjusted operating expenses in the first quarter were $1.346 billion, an increase of 62% compared to $830 million in the prior year period, and an increase of 62% compared to $11.03 in the prior quarter million dollars, an increase of 22%.

Performance Outlook:

AMD expects that,Second-quarter fiscal 2022 revenue to be around $6.5 billionplus or minus $200 million,A year-on-year increase of about 69%, an increase of about 10% month-on-month, a performance outlook that exceeded analyst expectations. According to data provided by Yahoo Finance Channel, 10 analysts had expected AMD’s second-quarter revenue to reach $6.38 billion on average. AMD also expects non-GAAP gross margins to be around 54% in the second quarter of fiscal 2022.

AMD expects that,Fiscal 2022 revenue to reach approximately $26.3 billion, an increase of approximately 60% compared to fiscal 2021, higher than the previous forecast of a year-on-year increase of about 31%, and also exceeded analysts’ expectations. According to data provided by Yahoo Finance Channel, 16 analysts had expected AMD’s annual revenue to reach $25.15 billion on average. AMD also expects non-GAAP gross margins to be around 54% in fiscal 2022, up from its previous outlook of around 51%.

Share price changes:

On the same day, AMD shares rose $1.29 in regular Nasdaq trading to close at $91.13, an increase of 1.44%. In subsequent after-hours trading as of 4:47 p.m. Eastern Time on the 3rd (4:47 a.m. Beijing time on the 4th), AMD’s stock price rose again by $4.20 to $95.33, an increase of 4.61%. Over the past 52 weeks, AMD’s highest price was $164.46 and its lowest price was $72.50.