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AMD Reports Second Quarter 2021 Financial Results

 Revenue increased 99 percent year-over-year; Gross Margin expanded to 48 percent

AMD (NASDAQ:AMD) announced revenue for the second quarter of 2021 of $3.85 billion, operating income of $831 million, net income of $710 million and diluted earnings per share of $0.58. On a non-GAAP* basis, operating income was $924 million, net income was $778 million and diluted earnings per share was $0.63.

GAAP Quarterly Financial Results

 Q2 2021Q2 2020Y/YQ1 2021Q/Q
Revenue ($M)$3,850$1,932Up 99%$3,445Up 12%
Gross profit ($M)$1,830$848Up 116%$1,587Up 15%
Gross margin %48%44%Up 4pp46%Up 2pp
Operating expenses ($M)$1,000$675Up 48%$929Up 8%
Operating income ($M)$831$173Up 380%$662Up 26%
Operating margin %22%9%Up 13pp19%Up 3pp
Net income ($M)$710$157Up 352%$555Up 28%
Earnings per share$0.58$0.13Up 346%$0.45Up 29%

Non-GAAP* Quarterly Financial Results

 Q2 2021Q2 2020Y/YQ1 2021Q/Q
Revenue ($M)$3,850$1,932Up 99%$3,445Up 12%
Gross profit ($M)$1,832$850Up 116%$1,588Up 15%
Gross margin %48%44%Up 4pp46%Up 2pp
Operating expenses ($M)$909$617Up 47%$830Up 10%
Operating income ($M)$924$233Up 297%$762Up 21%
Operating margin %24%12%Up 12pp22%Up 2pp
Net income ($M)$778$216Up 260%$642Up 21%
Earnings per share$0.63$0.18Up 250%$0.52Up 21%

“Our business performed exceptionally well in the second quarter as revenue and operating margin doubled and profitability more than tripled year-over-year,” said AMD president and CEO Lisa Su. “We are growing significantly faster than the market with strong demand across all of our businesses. We now expect our 2021 annual revenue to grow by approximately 60 percent year-over-year driven by strong execution and increased customer preference for our leadership products.”

Q2 2021 Results

Quarterly Financial Segment Summary

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