AMD Reports First Quarter 2022 Financial Results

― Record quarterly revenue of $5.9 billion grew 71% year-over-year; Gross margin grew 2 percentage points and non-GAAP gross margin grew 7 percentage points year-over-year

SANTA CLARA, Calif., May 03, 2022 (GLOBE NEWSWIRE) -- AMD (NASDAQ:AMD) today announced revenue for the first quarter of 2022 of $5.9 billion, gross margin of 48%, operating income of $951 million, operating margin of 16%, net income of $786 million and diluted earnings per share of $0.56. On a non-GAAP(*) basis, gross margin was 53%, operating income was $1.8 billion, net income was $1.6 billion and diluted earnings per share was $1.13. First quarter 2022 results include partial quarter financial results from the recently completed acquisition of Xilinx which closed February 14, 2022.

Excluding Xilinx, AMD had record quarterly revenue of $5.3 billion, non-GAAP gross margin of 51% and non-GAAP operating margin of 30%.   
“The first quarter marked a significant inflection point in our journey to scale and transform AMD as we delivered record revenue and closed our strategic acquisition of Xilinx,” said AMD Chair and CEO Dr. Lisa Su. “Each of our businesses grew by a significant double digit percentage year-over-year, led by EPYC server processor revenue more than doubling for the third straight quarter. Demand remains strong for our leadership products, with our increased full-year guidance reflecting higher AMD organic growth and the addition of the growing Xilinx business.”
                                                                                                 

GAAP Quarterly Financial Results

  Q1 2022 Q1 2021 Y/Y Q4 2021 Q/Q
Revenue ($M)$5,887$3,445Up 71%$4,826Up 22%
Gross profit ($M)$2,818$1,587Up 78%$2,426Up 16%
Gross margin %48%46%Up 190 bps50%Down 240 bps
Operating expenses ($M)$1,950$929Up 110%$1,223Up 59%
Operating income ($M)$951 $662 Up 44% $1,207 Down 21%
Operating margin % 16% 19% Down 3pp 25% Down 9pp
Net income ($M) $786 $555 Up 42% $974 Down 19%
Earnings per share $0.56 $0.45 Up 24% $0.80 Down 30%



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