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AMD Reports First Quarter 2019 Financial Results
Gross margin expands to 41%, up 5 percentage points year-over-year. AMD announced revenue for the first quarter of 2019 of
“We delivered solid first quarter results with significant gross margin expansion as Ryzen and EPYC processor and datacenter GPU revenue more than doubled year-over-year,” said Dr.
Q1 2019 Results
- Revenue was
$1.27 billion , down 23 percent year-over-year primarily due to lower revenue in the Computing and Graphics segment. Revenue was down 10 percent quarter-over-quarter primarily due to lower client processor sales. - Gross margin was 41 percent, up 5 percentage points year-over-year, primarily driven by the ramp of RyzenTM and EPYCTM processor and datacenter GPU sales. Gross margin was up 3 percentage points quarter-over-quarter primarily due to a charge in the fourth quarter of 2018 related to older technology licenses. Non-GAAP gross margin was flat quarter-over-quarter.
- Operating income was
$38 million compared to operating income of$120 million a year ago and$28 million in the prior quarter. Non-GAAP operating income was$84 million compared to operating income of$152 million a year ago and$109 million in the prior quarter. The year-over-year decline was primarily due to lower revenue and operating income in the Computing and Graphics segment. - Net income was
$16 million compared to net income of$81 million a year ago and$38 million in the prior quarter. Non-GAAP net income was$62 million compared to net income of$121 million a year ago and$87 million in the prior quarter. - Diluted earnings per share was
$0.01 , compared to diluted earnings per share of$0.08 a year ago and$0.04 in the prior quarter. Non-GAAP diluted earnings per share was$0.06 , compared to diluted earnings per share of$0.11 a year ago and$0.08 in the prior quarter. - Cash, cash equivalents and marketable securities were
$1.2 billion at the end of the quarter.
Quarterly Financial Segment Summary
- Computing and Graphics segment revenue was
$831 million , down 26 percent year-over-year and 16 percent quarter-over-quarter. Revenue was lower year-over-year primarily due to lower graphics channel sales, partially offset by increased client processor and datacenter GPU sales. The quarter-over-quarter decline was primarily due to lower client processor sales.- Client processor average selling price (ASP) was up year-over-year driven by Ryzen processor sales. Client ASP was down slightly quarter-over-quarter due to a decrease in mobile processor ASP.
- GPU ASP increased year-over-year primarily driven by datacenter GPU sales. GPU ASP was up sequentially driven by improved product mix.
- Operating income was
$16 million , compared to operating income of$138 million a year ago and operating income of$115 million in the prior quarter. The year-over-year and quarter-over-quarter operating income decreases were primarily due to lower revenue.
- Enterprise, Embedded and Semi-Custom segment revenue was
$441 million , down 17 percent year-over-year and up 2 percent sequentially. The year-over-year revenue decrease was primarily due to lower semi-custom product revenue, partially offset by higher server sales. The quarter-over-quarter increase was primarily driven by higher semi-custom revenue.- Operating income was
$68 million , compared to operating income of$14 million a year ago and an operating loss of$6 million in the prior quarter. The year-over-year and sequential improvements were primarily driven by a$60 million licensing gain associated with the company’s joint venture with THATIC.
- Operating income was
- All Other operating loss was
$46 million compared with operating losses of$32 million a year ago and$81 million in the prior quarter. The prior quarter included a$45 million charge related to older technology licenses.
GAAP Quarterly Financial Results
| Q1 2019 | Q1 2018 | Y/Y | Q4 2018 | Q/Q | |
| Revenue ($B) | $1.27 | $1.65 | Down 23% | $1.42 | Down 10% |
| Gross margin | 41% | 36% | Up 5 pp | 38% | Up 3 pp |
| Operating expense ($M) | $543 | $477 | Up $66 | $509 | Up $34 |
| Operating income ($M) | $38 | $120 | Down $82 | $28 | Up $10 |
| Net income ($M) | $16 | $81 | Down $65 | $38 | Down $22 |
| Earnings per share | $0.01 | $0.08 | Down $0.07 | $0.04 | Down $0.03 |
Non-GAAP(*) Quarterly Financial Results
| Q1 2019 | Q1 2018 | Y/Y | Q4 2018 | Q/Q | |
| Revenue ($B) | $1.27 | $1.65 | Down 23% | $1.42 | Down 10% |
| Gross margin | 41% | 36% | Up 5 pp | 41% | Flat |
| Operating expense ($M) | $498 | $446 | Up $52 | $474 | Up $24 |
| Operating income ($M) | $84 | $152 | Down $68 | $109 | Down $25 |
| Net income ($M) | $62 | $121 | Down $59 | $87 | Down $25 |
| Earnings per share | $0.06 | $0.11 | Down $0.05 | $0.08 | Down $0.02 |
AMD Reports Third Quarter 2018 Financial Results - 10/25/2018 08:39 AM
AMD (NASDAQ:AMD) today announced revenue for the third quarter of 2018 of $1.65 billion, operating income of $150 million, net income of $102 million and diluted earnings per share of $0.09. On a non-...
AMD Reports First Quarter 2018 Financial Results, Revenue up 40% - 04/26/2018 02:37 PM
It's been a long time coming, but Ryzen and Epyc finally turnaround losses into profits, revenue hsrisen by 40% in turnover compared to 2017, and 23 percent up from Q4 2017. AMD has published its fi...
AMD Reports First Quarter 2017 Financial Results - Revenue Has Ryzen - 05/02/2017 08:23 AM
AMD announced revenue for the first quarter of 2017 of $984 million, operating loss of $29 million, and net loss of $73 million, or $0.08 per share. On a non-GAAP basis, operating loss was $6 million,...
AMD Reports 2016 Second Quarter Results - 07/22/2016 08:44 AM
AMD today announced revenue for the second quarter of 2016 of $1,027 million, operating loss of $8 million, and net income of $69 million, or $0.08 per diluted share. Non-GAAP operating income was $3 ...
AMD Reports 2016 First Quarter Results - 04/22/2016 08:13 AM
AMD today announced revenue for the first quarter of 2016 of $832 million, operating loss of $68 million, and net loss of $109 million, or $0.14 per share. Non-GAAP operating loss was $55 million and ...
slyphnier
Senior Member
Posts: 813
Joined: 2009-11-30
Senior Member
Posts: 813
Joined: 2009-11-30
#5664935 Posted on: 05/01/2019 04:02 PM
despite current PC trend with AMD which people see more interesting / have better value over intel product
still not reflected much into the company , both revenue and income still drop instead growing
despite current PC trend with AMD which people see more interesting / have better value over intel product
still not reflected much into the company , both revenue and income still drop instead growing
Dribble
Senior Member
Posts: 270
Joined: 2019-01-18
Senior Member
Posts: 270
Joined: 2019-01-18
#5664957 Posted on: 05/01/2019 05:06 PM
despite current PC trend with AMD which people see more interesting / have better value over intel product
still not reflected much into the company , both revenue and income still drop instead growing
Well they don't separate cpu and gpu sales. Quite likely the cpu sales are growing nicely but the gpu sales dropped off the edge of the cliff with the death of crypto mining.
despite current PC trend with AMD which people see more interesting / have better value over intel product
still not reflected much into the company , both revenue and income still drop instead growing
Well they don't separate cpu and gpu sales. Quite likely the cpu sales are growing nicely but the gpu sales dropped off the edge of the cliff with the death of crypto mining.
Fox2232
Senior Member
Posts: 11809
Joined: 2012-07-20
Senior Member
Posts: 11809
Joined: 2012-07-20
#5664961 Posted on: 05/01/2019 05:11 PM
despite current PC trend with AMD which people see more interesting / have better value over intel product
still not reflected much into the company , both revenue and income still drop instead growing
That's because current AMD's GPU product line is practically EoL and around for too long.
On gaming GPU front AMD either has Polaris which is objectively now entry-level gaming product. Or Radeon 7 which is not gaming product. It is productivity oriented card where it has value. In between there is Vega 56/64 which have neither good price to performance ratio as Polaris. Nor productivity ability of Radeon 7 due to limited amount of VRAM.
CPU side suffers from CPU benchmarks done practically only with top-end GPUs at low resolutions such GPUs are rarely used with. As such AMD looks less attractive even while in reality someone buying cheaper AMD's chip and spending more on GPU as result gets higher fps.
(This hinders "market growth", but CPUs are reason why AMD is in black numbers this Q.)
= = = =
As always, should one get RTX 2070 + 9900K or RTX 2080 + 2700X? Even on 1080p, one is better with later. But CPU benchmarks will make 9900K so much more attractive.
despite current PC trend with AMD which people see more interesting / have better value over intel product
still not reflected much into the company , both revenue and income still drop instead growing
That's because current AMD's GPU product line is practically EoL and around for too long.
On gaming GPU front AMD either has Polaris which is objectively now entry-level gaming product. Or Radeon 7 which is not gaming product. It is productivity oriented card where it has value. In between there is Vega 56/64 which have neither good price to performance ratio as Polaris. Nor productivity ability of Radeon 7 due to limited amount of VRAM.
CPU side suffers from CPU benchmarks done practically only with top-end GPUs at low resolutions such GPUs are rarely used with. As such AMD looks less attractive even while in reality someone buying cheaper AMD's chip and spending more on GPU as result gets higher fps.
(This hinders "market growth", but CPUs are reason why AMD is in black numbers this Q.)
= = = =
As always, should one get RTX 2070 + 9900K or RTX 2080 + 2700X? Even on 1080p, one is better with later. But CPU benchmarks will make 9900K so much more attractive.
Mesab67
Senior Member
Posts: 244
Joined: 2016-10-19
Senior Member
Posts: 244
Joined: 2016-10-19
#5664982 Posted on: 05/01/2019 06:20 PM
These numbers are somewhat meaningless since neither Matisse or Navi have been released. Give it time.
These numbers are somewhat meaningless since neither Matisse or Navi have been released. Give it time.
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Senior Member
Posts: 11809
Joined: 2012-07-20
Q2 results will be quite worse. But I do not exactly see them negatively affect stock price as Zen2 + Navi will be already announced and shown at time of results.