AMD Reports Fourth Quarter and Full Year 2020 Financial Results


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ADVANCED MICRO DEVICES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Millions except per share amounts and percentages) (Unaudited)
 
  Three Months Ended Year Ended
  December 26,
2020
 September 26,
2020
 December 28,
2019
 December 26,
2020
 December 28,
2019
Net revenue $3,244    $2,801    $2,127    $9,763    $6,731   
Cost of sales 1,793    1,571    1,178    5,416    3,863   
Gross profit 1,451    1,230    949    4,347    2,868   
Gross margin % 45  %   44    %   45    %   45    %   43    %
Research and development   573        508        395        1,983        1,547     
Marketing, general and administrative   308        273        206        995        750     
Licensing gain   —        —        —        —        (60 )  
Operating income   570        449        348        1,369        631     
Interest expense   (9 )     (11 )     (18 )     (47 )     (94 )  
Other expense, net   (15 )     (37 )     (125 )     (47 )     (165 )  
Income before income taxes and equity income   546        401        205        1,275        372     
Income tax provision (benefit)   (1,232 )     12        35        (1,210 )     31     
Equity income in investee               —              —     
Net Income   $ 1,781        $ 390        $ 170        $ 2,490        $ 341     
Earnings per share                    
Basic   $ 1.48        $ 0.33        $ 0.15        $ 2.10        $ 0.31     
Diluted   $ 1.45        $ 0.32        $ 0.15        $ 2.06        $ 0.30     
Shares used in per share calculation                    
Basic   1,205        1,184        1,140        1,184        1,091     
Diluted   1,226        1,215        1,188        1,207        1,120     
                                         

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