Annual revenue grew by more than $1.2 billion with highest profitability in 7 years
SANTA CLARA, Calif., Jan. 29, 2019 (GLOBE NEWSWIRE) -- AMD (NASDAQ:AMD) today announced revenue for fiscal year 2018 of $6.48 billion, operating income of $451 million, net income of $337 million and diluted earnings per share of $0.32. On a non-GAAP(1) basis, operating income was $633 million, net income was $514 million and diluted earnings per share was $0.46.
For the fourth quarter of 2018, the Company reported revenue of $1.42 billion, operating income of $28 million, net income of $38 million and diluted earnings per share of $0.04. On a non-GAAP(1) basis, operating income was $109 million, net income was $87 million and diluted earnings per share was $0.08.
Annual Financial Results
| GAAP | Non-GAAP | |||||||||||||
| 2018 | 2017 | Y/Y | 2018 | 2017 | Y/Y | |||||||||
| Revenue ($B) | $6.48 | $5.25 | Up 23% | $6.48 | $5.25 | Up 23% | ||||||||
| Gross margin | 38% | 34% | Up 4 pp | 39% | 34% | Up 5 pp | ||||||||
| Operating expense ($M) | $1,996 | $1,712 | Up $284 | $1,863 | $1,617 | Up $246 | ||||||||
| Operating income ($M) | $451 | $127 | Up $324 | $633 | $224 | Up $409 | ||||||||
| Net income (loss) ($M) | $337 | $(33) | Up $370 | $514 | $103 | Up $411 | ||||||||
| Earnings (loss) per share | $0.32 | $(0.03) | Up $0.35 | $0.46 | $0.10 | Up $0.36 | ||||||||
GAAP Quarterly Financial Results
| Q4 2018 | Q4 2017 | Y/Y | Q3 2018 | Q/Q | |||||||
| Revenue ($B) | $1.42 | $1.34 | Up 6% | $1.65 | Down 14% | ||||||
| Gross margin | 38% | 34% | Up 4 pp | 40% | Down 2 pp | ||||||
| Operating expense ($M) | $509 | $454 | Up $55 | $511 | Down $2 | ||||||
| Operating income (loss) ($M) | $28 | $(2) | Up $30 | $150 | Down $122 | ||||||
| Net income (loss) ($M) | $38 | $(19) | Up $57 | $102 | Down $64 | ||||||
| Earnings (loss) per share | $0.04 | $(0.02) | Up $0.06 | $0.09 | Down $0.05 | ||||||
Non-GAAP(1) Quarterly Financial Results
| Q4 2018 | Q4 2017 | Y/Y | Q3 2018 | Q/Q | |||||||
| Revenue ($B) | $1.42 | $1.34 | Up 6% | $1.65 | Down 14% | ||||||
| Gross margin | 41% | 34% | Up 7 pp | 40% | Up 1 pp | ||||||
| Operating expense ($M) | $474 | $433 | Up $41 | $476 | Down $2 | ||||||
| Operating income ($M) | $109 | $19 | Up $90 | $186 | Down $77 | ||||||
| Net income ($M) | $87 | $8 | Up $79 | $150 | Down $63 | ||||||
| Earnings per share | $0.08 | $0.01 | Up $0.07 | $0.13 | Down $0.05 | ||||||
“In 2018 we delivered our second straight year of significant revenue growth, market share gains, expanded gross margin and improved profitability based on our high-performance products. Importantly, we more than doubled our EPYC processor shipments sequentially and delivered record GPU datacenter revenue in the quarter,” said Dr. Lisa Su, AMD president and CEO. “Despite near-term graphics headwinds, 2019 is shaping up to be another exciting year driven by the launch of our broadest and most competitive product portfolio ever with our next-generation 7nm Ryzen, Radeon, and EPYC products.”
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