AMD Reports First Quarter 2021 Financial Results

— Revenue grew 93 percent while net income and EPS tripled year-over-year —

SANTA CLARA, Calif., April 27, 2021 (GLOBE NEWSWIRE) -- AMD (NASDAQ:AMD) today announced revenue for the first quarter of 2021 of $3.45 billion, operating income of $662 million, net income of $555 million and diluted earnings per share of $0.45. On a non-GAAP* basis, operating income was $762 million, net income was $642 million and diluted earnings per share was $0.52.

GAAP Quarterly Financial Results

  Q1 2021 Q1 2020 Y/Y Q4 2020 Q/Q
Revenue ($M)$3,445$1,786Up 93%$3,244Up 6%
Gross profit ($M)$1,587$818Up 94%$1,451Up 9%
Gross margin %46%46%Flat45%Up 1pp
Operating expenses ($M)$929$641Up 45%$881Up 5%
Operating income ($M)$662$177Up 274%$570Up 16%
Tax Valuation Allowance Release Benefit ($M)---- -- $1,301 --
Net income ($M) $555 $162 Up 243% $1,781 Down 69%
Earnings per share $0.45 $0.14 Up 221% $1.45 Down 69%

Non-GAAP* Quarterly Financial Results

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