\n
\nCustomer momentum for AMD AI platforms is accelerating:
\n
\nOpenAI and AMD announced<\/a> a strategic partnership where AMD will be a core preferred partner to deploy 6 gigawatts of AMD GPUs to power OpenAI\u2019s next generation AI infrastructure, with the first 1-gigawatt deployment of AMD Instinct MI450 GPUs set to begin in the second half of 2026.
\nOracle and AMD announced<\/a> that Oracle Cloud Infrastructure (OCI) will offer the first publicly available AI supercluster powered by the AMD \u201cHelios\u201d rack design with AMD Instinct MI450 GPUs, EPYC \u201cVenice\u201d CPUs and Pensando\u2122 \u201cVulcano\u201d networking, with an initial deployment of 50,000 GPUs starting in Q3 2026.
\nAMD unveiled<\/a> its \u201cHelios\u201d rack scale design that supports the new Open Rack Wide specification introduced by Meta at Open Compute Project Global Summit.
\nCisco and AMD announced<\/a> an expanded collaboration with G42 to deploy a large-scale AI cluster powered by AMD Instinct MI355X GPUs to advance secure AI infrastructure across UAE.
\nIBM and AMD announced<\/a> a multi-year collaboration to provide Zyphra with advanced AI infrastructure, leveraging a large cluster of AMD Instinct MI350X GPUs to power next-generation multimodal AI models.
\nCohere and AMD expanded<\/a> their collaboration, bringing AMD Instinct GPU-powered infrastructure to Cohere\u2019s full suite of enterprise AI offerings.
\nVultr announced<\/a> the global availability of AMD Instinct MI355X GPUs across its cloud platform.
\nDigitalOcean expanded<\/a> its AMD-based cloud offerings to support a broader range of AI workloads with AMD Instinct MI325X GPUs available now and AMD Instinct MI350X GPUs available later this year.
\nAMD and Tech Mahindra announced<\/a> a collaboration to bring AMD Instinct GPUs and AMD EPYC processors to the Cloud BlazeTech enterprise AI solution.
\n
\n
\nAMD and the U.S. Department of Energy announced<\/a> two new next-generation supercomputers:
\n
\nThe Lux AI supercomputer, powered by AMD Instinct MI355X GPUs, AMD EPYC CPUs and AMD Pensando advanced networking technologies, will be the first U.S. AI factory supercomputer.
\nThe Discovery supercomputer, expected to be delivered in 2028, will be based on next-gen AMD EPYC CPUs, codenamed \u201cVenice,\u201d and AMD Instinct MI430X GPUs, a new MI400 Series accelerator designed for sovereign AI and scientific computing.
\n
\n
\nAMD released<\/a> ROCm\u2122 7 software, boosting training and inference performance and expanding enterprise tools for infrastructure management and deployment.
\nAMD announced<\/a> the completion of the divestiture of the ZT Systems data center infrastructure manufacturing business to Sanmina.
\nAMD partners expanded their cloud offerings based on AMD EPYC processors to meet growing compute demand for enterprise and AI workloads:
\n
\nAWS announced<\/a> the availability of Amazon EC2 M8a general-purpose instance powered by 5th Gen AMD EPYC processors, delivering up to 30% higher performance than the previous generation.
\nOracle announced<\/a> next-gen Compute Cloud@Customer X11 and Private Cloud Appliance X11 platforms powered by 5th Gen AMD EPYC processors.
\n
\n
\nIBM and AMD announced<\/a> plans to combine quantum computers and high-performance compute to drive scalable, open-source next-generation computing architectures.
\nAMD delivered new capabilities for the most demanding PC and gaming workloads, including:
\n
\n
\nAMD expanded its x86 embedded processor portfolio, including:
\n
\nThe AMD EPYC Embedded 4005 series processors<\/a>, built to deliver performance, optimized system costs and extended deployment lifecycles in network security appliances and entry-level industrial edge servers.
\nThe AMD Ryzen Embedded 9000 processors<\/a> delivering exceptional performance-per-watt, low latency, and the long-term stability for industrial PCs, automation systems and machine vision applications.
\n
\n
\n <\/p>\n
Current Outlook
AMD\u2019s outlook statements are based on current expectations. The following statements are forward-looking and actual results could differ materially depending on market conditions and the factors set forth under \u201cCautionary Statement\u201d below.<\/p>\n
<\/p>\n
For the fourth quarter of 2025, AMD expects revenue to be approximately $9.6 billion, plus or minus $300 million. At the mid-point of the revenue range, this represents year-over-year growth of approximately 25% and sequential growth of approximately 4%. Non-GAAP gross margin is expected to be approximately 54.5%. Our current outlook does not include any revenue from AMD Instinct MI308 shipments to China.<\/p>\n
<\/p>\n
AMD Teleconference
September 27, June 28, September 28, 52% 40% 50% 54% 43% 54% GAAP operating expenses(3) 38% 42% 40% Non-GAAP operating expenses(3) 30% 32% 28% 14% (2)% 11% 24% 12% 25% September 27, June 28, September 28, (1) Acquisition-related and other costs primarily include transaction costs, purchase price fair value adjustments for inventory, certain compensation charges, and workforce rebalancing charges.
June 28, About AMD
<\/p>\n Cautionary Statement <\/p>\n
<\/p>\n This press release contains forward-looking statements concerning Advanced Micro Devices, Inc. (AMD) such as, the features, functionality, performance, availability, timing and expected benefits of future AMD products; AMD\u2019s growth trajectory; the expected revenue and earnings growth from AMD\u2019s compute franchise and AI business; AMD\u2019s ability to drive significant growth and position itself to deliver long-term value creation based on continued investments in AI and high-performance computing; the strategic partnership with OpenAI and the deployment of six gigawatts of AMD Instinct\u2122 GPUs and timing thereof; the strategic partnership with Oracle and the deployment of 50,000 GPUs and timing thereof; and AMD\u2019s expected fourth quarter 2025 financial outlook, including revenue and non-GAAP gross margin, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as “would,” “may,” “expects,” “believes,” “plans,” “intends,” “projects” and other terms with similar meaning. Investors are cautioned that the forward-looking statements in this press release are based on current beliefs, assumptions and expectations, speak only as of the date of this press release and involve risks and uncertainties that could cause actual results to differ materially from current expectations. Such statements are subject to certain known and unknown risks and uncertainties, many of which are difficult to predict and are generally beyond AMD\u2019s control, that could cause actual results and other future events to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Material factors that could cause actual results to differ materially from current expectations include, without limitation, the following: impact of government actions and regulations such as export regulations, import\u00a0\u00a0 tariffs, trade protection measures, and licensing requirements; competitive markets in which AMD\u2019s products are sold; the cyclical nature of the semiconductor industry; market conditions of the industries in which AMD products are sold; AMD’s ability to introduce products on a timely basis with expected features and performance levels; loss of a significant customer; economic and market uncertainty; quarterly and seasonal sales patterns; AMD’s ability to adequately protect its technology or other intellectual property; unfavorable currency exchange rate fluctuations; ability of third party manufacturers to manufacture AMD’s products on a timely basis in sufficient quantities and using competitive technologies; availability of essential equipment, materials, substrates or manufacturing processes; ability to achieve expected manufacturing yields for AMD\u2019s products; AMD’s ability to generate revenue from its semi-custom SoC products; potential security vulnerabilities; potential security incidents including IT outages, data loss, data breaches and cyberattacks; uncertainties involving the ordering and shipment of AMD\u2019s products; AMD\u2019s reliance on third-party intellectual property to design and introduce new products; AMD’s reliance on third-party companies for design, manufacture and supply of motherboards, software, memory and other computer platform components; AMD’s reliance on Microsoft and other software vendors’ support to design and develop software to run on AMD\u2019s products; AMD\u2019s reliance on third-party distributors and add-in-board partners; impact of modification or interruption of AMD\u2019s internal business processes and information systems; compatibility of AMD\u2019s products with some or all industry-standard software and hardware; costs related to defective products; efficiency of AMD’s supply chain; AMD’s ability to rely on third party supply-chain logistics functions; AMD\u2019s ability to effectively control sales of its products on the gray market; impact of climate change on AMD\u2019s business; AMD\u2019s ability to realize its deferred tax assets; potential tax liabilities; current and future claims and litigation; impact of environmental laws, conflict minerals related provisions and other laws or regulations; evolving expectations from governments, investors, customers and other stakeholders regarding corporate responsibility matters; issues related to the responsible use of AI; restrictions imposed by agreements governing AMD\u2019s notes, the guarantees of Xilinx\u2019s notes and the revolving credit agreement; impact of acquisitions, joint ventures and\/or strategic investments on AMD\u2019s business and AMD\u2019s ability to integrate acquired businesses, including ZT Systems; impact of any impairment of the combined company\u2019s assets; political, legal and economic risks and natural disasters; future impairments of technology license purchases; AMD\u2019s ability to attract and retain key employees; and AMD\u2019s stock price volatility. Investors are urged to review in detail the risks and uncertainties in AMD\u2019s Securities and Exchange Commission filings, including but not limited to AMD\u2019s most recent reports on Forms 10-K and 10-Q.<\/p>\n
\u00a92025 Advanced Micro Devices, Inc. All rights reserved. AMD, the AMD Arrow logo, AMD Instinct, EPYC, Pensando, Radeon, ROCm, Ryzen, Spartan, Threadripper, Ultrascale+, Versal and combinations thereof, are trademarks of Advanced Micro Devices, Inc. <\/p>\n
ADVANCED MICRO DEVICES, INC.
September 27, June 28, September 28, September 27, September 28, \u00a0<\/p>\n
<\/p>\n ADVANCED MICRO DEVICES, INC.
September 27, December 28, \u00a0<\/p>\n
<\/p>\n ADVANCED MICRO DEVICES, INC.
September 27, September 28, September 27, September 28, \u00a0<\/p>\n
<\/p>\n ADVANCED MICRO DEVICES, INC.
September 27, June 28, September 28, September 27, September 28, Segment and Disaggregated Revenue Information(1) (1) The Company operates as three operating segments, Data Center, Client and Gaming, and Embedded segments.<\/p>\n The Data Center segment primarily includes Artificial Intelligence (AI) accelerators, server microprocessors (CPUs), graphics processing units (GPUs), accelerated processing units (APUs), data processing units (DPUs), Field Programmable Gate Arrays (FPGAs), Smart Network Interface Cards (SmartNICs) and Adaptive System-on-Chip (SoC) products for data centers.<\/p>\n The Client and Gaming segment primarily includes CPUs, APUs, and chipsets for desktops and notebooks, and discrete GPUs, semi-custom SoC products and development services.<\/p>\n The Embedded segment primarily includes embedded CPUs, GPUs, APUs, FPGAs, System on Modules (SOMs), and Adaptive SoC products. <\/p>\n From time to time, the Company may also sell or license portions of its IP portfolio. <\/p>\n All Other category primarily includes certain expenses and credits that are not allocated to any of the operating segments, such as amortization of acquisition-related intangibles, employee stock-based compensation expense, acquisition-related and other costs, inventory loss at (recovery from) contract manufacturer and restructuring charges.<\/p>\n
<\/p>\n (2) Reconciliation of GAAP Net Income to Adjusted EBITDA<\/p>\n
September 27, June 28, September 28, September 27, September 28, The Company presents \u201cAdjusted EBITDA\u201d as a supplemental measure of its performance. Adjusted EBITDA for the Company is determined by adjusting GAAP net income for interest expense, other (income) expense, net, income tax provision (benefit), equity income in investee, stock-based compensation, depreciation and amortization expense, amortization of acquisition-related intangibles, acquisition-related and other costs, inventory loss at (recovery from) contract manufacturer, loss contingency on legal matter, and income from discontinued operations, net of tax. The Company calculates and presents Adjusted EBITDA because management believes it is of importance to investors and lenders in relation to its overall capital structure and its ability to borrow additional funds. In addition, the Company presents Adjusted EBITDA because it believes this measure assists investors in comparing its performance across reporting periods on a consistent basis by excluding items that the Company does not believe are indicative of its core operating performance. The Company\u2019s calculation of Adjusted EBITDA may or may not be consistent with the calculation of this measure by other companies in the same industry. Investors should not view Adjusted EBITDA as an alternative to the GAAP operating measure of net income or GAAP liquidity measures of cash flows from operating, investing and financing activities. In addition, Adjusted EBITDA does not take into account changes in certain assets and liabilities that can affect cash flows.<\/p>\n
<\/p>\n (3) Reconciliation of GAAP Net Cash Provided by Operating Activities of Continuing Operations to Free Cash Flow<\/p>\n
September 27, June 28, September 28, September 27, September 28, The Company also presents free cash flow as a supplemental Non-GAAP measure of its performance. Free cash flow is determined by adjusting GAAP net cash provided by operating activities of continuing operations for capital expenditures, and free cash flow margin % is free cash flow expressed as a percentage of the Company’s net revenue. The Company calculates and communicates free cash flow in the financial earnings press release because management believes it is of importance to investors to understand the nature of these cash flows. The Company\u2019s calculation of free cash flow may or may not be consistent with the calculation of this measure by other companies in the same industry. Investors should not view free cash flow as an alternative to GAAP liquidity measures of cash flows from operating activities.<\/p>\n
Media Contact:
<\/p>\n Investor Contact:
Released November 4, 2025<\/p>\n
AMD will hold a conference call at 2:00 p.m. PT (5:00 p.m. ET) today to discuss its third quarter 2025 financial results. AMD will provide a real-time audio broadcast of the teleconference on the Investor Relations<\/a> page of its website at www.amd.com<\/a>.<\/p>\n
\n
\n
\n
\nRECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
\n
\n
\n(in millions, except per share data) (Unaudited)
\n\u00a0
\n\u00a0
\n
\n
\n\u00a0
\n\u00a0
\nThree Months Ended
\n
\n
\n\u00a0
\n\u00a0
<\/p>\n
2025
\n
\n\u00a0
<\/p>\n
2025
\n
\n\u00a0
<\/p>\n
2024
\n
\n\u00a0
\n
\n
\nGAAP gross profit
\n\u00a0
\n$
\n4,780
\n\u00a0
\n\u00a0
\n$
\n3,059
\n\u00a0
\n\u00a0
\n$
\n3,419
\n\u00a0
\n\u00a0
\n
\n
\nGAAP gross margin
\n\u00a0
\n\u00a0
<\/p>\n
\n
\n\u00a0
\n\u00a0
\n\u00a0
<\/p>\n
\n
\n\u00a0
\n\u00a0
\n\u00a0
<\/p>\n
\n
\n\u00a0
\n\u00a0
\n
\n
\nStock-based compensation
\n\u00a0
\n\u00a0
\n7
\n\u00a0
\n\u00a0
\n\u00a0
\n6
\n\u00a0
\n\u00a0
\n\u00a0
\n5
\n\u00a0
\n\u00a0
\n
\n
\nAmortization of acquisition-related intangibles
\n\u00a0
\n\u00a0
\n260
\n\u00a0
\n\u00a0
\n\u00a0
\n260
\n\u00a0
\n\u00a0
\n\u00a0
\n233
\n\u00a0
\n\u00a0
\n
\n
\nAcquisition-related and other costs(1)
\n
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n1
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n
\n
\nInventory loss at (recovery from) contract manufacturer(2)
\n
\n\u00a0
\n\u00a0
\n(67
\n)
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n
\n
\nLoss contingency on legal matter
\n\u00a0
\n\u00a0
\n12
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n
\n
\nNon-GAAP gross profit
\n\u00a0
\n$
\n4,992
\n\u00a0
\n\u00a0
\n$
\n3,326
\n\u00a0
\n\u00a0
\n$
\n3,657
\n\u00a0
\n\u00a0
\n
\n
\nNon-GAAP gross margin
\n\u00a0
\n\u00a0
<\/p>\n
\n
\n\u00a0
\n\u00a0
\n\u00a0
<\/p>\n
\n
\n\u00a0
\n\u00a0
\n\u00a0
<\/p>\n
\n
\n\u00a0
\n\u00a0
\n
\n
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n
\n
<\/p>\n
\n
\n\u00a0
\n$
\n3,510
\n\u00a0
\n\u00a0
\n$
\n3,193
\n\u00a0
\n\u00a0
\n$
\n2,695
\n\u00a0
\n\u00a0
\n
\n
\nGAAP operating expenses\/revenue %
\n\u00a0
\n\u00a0
<\/p>\n
\n
\n\u00a0
\n\u00a0
\n\u00a0
<\/p>\n
\n
\n\u00a0
\n\u00a0
\n\u00a0
<\/p>\n
\n
\n\u00a0
\n\u00a0
\n
\n
\nStock-based compensation
\n\u00a0
\n\u00a0
\n412
\n\u00a0
\n\u00a0
\n\u00a0
\n363
\n\u00a0
\n\u00a0
\n\u00a0
\n346
\n\u00a0
\n\u00a0
\n
\n
\nAmortization of acquisition-related intangibles
\n\u00a0
\n\u00a0
\n302
\n\u00a0
\n\u00a0
\n\u00a0
\n308
\n\u00a0
\n\u00a0
\n\u00a0
\n352
\n\u00a0
\n\u00a0
\n
\n
\nAcquisition-related and other costs(1)
\n
\n\u00a0
\n\u00a0
\n42
\n\u00a0
\n\u00a0
\n\u00a0
\n93
\n\u00a0
\n\u00a0
\n\u00a0
\n55
\n\u00a0
\n\u00a0
\n
\n
<\/p>\n
\n
\n\u00a0
\n$
\n2,754
\n\u00a0
\n\u00a0
\n$
\n2,429
\n\u00a0
\n\u00a0
\n$
\n1,942
\n\u00a0
\n\u00a0
\n
\n
\nNon-GAAP operating expenses\/revenue %
\n\u00a0
\n\u00a0
<\/p>\n
\n
\n\u00a0
\n\u00a0
\n\u00a0
<\/p>\n
\n
\n\u00a0
\n\u00a0
\n\u00a0
<\/p>\n
\n
\n\u00a0
\n\u00a0
\n
\n
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n
\n
\nGAAP operating income (loss)
\n\u00a0
\n$
\n1,270
\n\u00a0
\n\u00a0
\n$
\n(134
\n)
\n\u00a0
\n$
\n724
\n\u00a0
\n\u00a0
\n
\n
\nGAAP operating margin
\n\u00a0
\n\u00a0
<\/p>\n
\n
\n\u00a0
\n\u00a0
<\/p>\n
\n
\n\u00a0
\n\u00a0
<\/p>\n
\n
\n\u00a0
\n\u00a0
\n
\n
\nStock-based compensation
\n\u00a0
\n\u00a0
\n419
\n\u00a0
\n\u00a0
\n\u00a0
\n369
\n\u00a0
\n\u00a0
\n\u00a0
\n351
\n\u00a0
\n\u00a0
\n
\n
\nAmortization of acquisition-related intangibles
\n\u00a0
\n\u00a0
\n562
\n\u00a0
\n\u00a0
\n\u00a0
\n568
\n\u00a0
\n\u00a0
\n\u00a0
\n585
\n\u00a0
\n\u00a0
\n
\n
\nAcquisition-related and other costs(1)
\n
\n\u00a0
\n\u00a0
\n42
\n\u00a0
\n\u00a0
\n\u00a0
\n94
\n\u00a0
\n\u00a0
\n\u00a0
\n55
\n\u00a0
\n\u00a0
\n
\n
\nInventory loss at (recovery from) contract manufacturer(2)
\n
\n\u00a0
\n\u00a0
\n(67
\n)
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n
\n
\nLoss contingency on legal matter
\n\u00a0
\n\u00a0
\n12
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n
\n
\nNon-GAAP operating income
\n\u00a0
\n$
\n2,238
\n\u00a0
\n\u00a0
\n$
\n897
\n\u00a0
\n\u00a0
\n$
\n1,715
\n\u00a0
\n\u00a0
\n
\n
\nNon-GAAP operating margin
\n\u00a0
\n\u00a0
<\/p>\n
\n
\n\u00a0
\n\u00a0
\n\u00a0
<\/p>\n
\n
\n\u00a0
\n\u00a0
\n\u00a0
<\/p>\n
\n
\n\u00a0
\n\u00a0
\n
\n
\n
\n
\n
\n
\n
\n\u00a0
\n\u00a0
\nThree Months Ended
\n\u00a0
\n
\n
\n\u00a0
\n\u00a0
<\/p>\n
2025
\n
\n\u00a0
<\/p>\n
2025
\n
\n\u00a0
<\/p>\n
2024
\n
\n\u00a0
\n
\n
\nGAAP net income \/ earnings per share
\n\u00a0
\n$
\n1,243
\n\u00a0
\n\u00a0
\n$
\n0.75
\n\u00a0
\n\u00a0
\n$
\n872
\n\u00a0
\n\u00a0
\n$
\n0.54
\n\u00a0
\n\u00a0
\n$
\n771
\n\u00a0
\n\u00a0
\n$
\n0.47
\n\u00a0
\n\u00a0
\n
\n
\nStock-based compensation
\n\u00a0
\n\u00a0
\n419
\n\u00a0
\n\u00a0
\n\u00a0
\n0.26
\n\u00a0
\n\u00a0
\n\u00a0
\n369
\n\u00a0
\n\u00a0
\n\u00a0
\n0.23
\n\u00a0
\n\u00a0
\n\u00a0
\n351
\n\u00a0
\n\u00a0
\n\u00a0
\n0.21
\n\u00a0
\n\u00a0
\n
\n
\nAmortization of acquisition-related intangibles
\n\u00a0
\n\u00a0
\n562
\n\u00a0
\n\u00a0
\n\u00a0
\n0.34
\n\u00a0
\n\u00a0
\n\u00a0
\n568
\n\u00a0
\n\u00a0
\n\u00a0
\n0.35
\n\u00a0
\n\u00a0
\n\u00a0
\n585
\n\u00a0
\n\u00a0
\n\u00a0
\n0.36
\n\u00a0
\n\u00a0
\n
\n
\nAcquisition-related and other costs(1)
\n
\n\u00a0
\n\u00a0
\n43
\n\u00a0
\n\u00a0
\n\u00a0
\n0.03
\n\u00a0
\n\u00a0
\n\u00a0
\n96
\n\u00a0
\n\u00a0
\n\u00a0
\n0.05
\n\u00a0
\n\u00a0
\n\u00a0
\n56
\n\u00a0
\n\u00a0
\n\u00a0
\n0.03
\n\u00a0
\n\u00a0
\n
\n
\nInventory loss at (recovery from) contract manufacturer(2)
\n
\n\u00a0
\n\u00a0
\n(67
\n)
\n\u00a0
\n\u00a0
\n(0.04
\n)
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n
\n
\nLoss contingency on legal matter
\n\u00a0
\n\u00a0
\n12
\n\u00a0
\n\u00a0
\n\u00a0
\n0.01
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n
\n
\n(Gains) losses on equity investments, net
\n\u00a0
\n\u00a0
\n(26
\n)
\n\u00a0
\n\u00a0
\n(0.02
\n)
\n\u00a0
\n\u00a0
\n(61
\n)
\n\u00a0
\n\u00a0
\n(0.04
\n)
\n\u00a0
\n\u00a0
\n(1
\n)
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n
\n
\nEquity income in investee
\n\u00a0
\n\u00a0
\n(10
\n)
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n(8
\n)
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n(7
\n)
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n
\n
\nRelease of reserves for uncertain tax positions(4)
\n
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n(853
\n)
\n\u00a0
\n\u00a0
\n(0.52
\n)
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n
\n
\nIncome tax provision
\n\u00a0
\n\u00a0
\n(140
\n)
\n\u00a0
\n\u00a0
\n(0.09
\n)
\n\u00a0
\n\u00a0
\n(98
\n)
\n\u00a0
\n\u00a0
\n(0.06
\n)
\n\u00a0
\n\u00a0
\n(251
\n)
\n\u00a0
\n\u00a0
\n(0.15
\n)
\n\u00a0
\n
\n
\nIncome from discontinued operations, net of tax(5)
\n
\n\u00a0
\n\u00a0
\n(71
\n)
\n\u00a0
\n\u00a0
\n(0.04
\n)
\n\u00a0
\n\u00a0
\n(104
\n)
\n\u00a0
\n\u00a0
\n(0.07
\n)
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n
\n
\nNon-GAAP net income \/ earnings per share
\n\u00a0
\n$
\n1,965
\n\u00a0
\n\u00a0
\n$
\n1.20
\n\u00a0
\n\u00a0
\n$
\n781
\n\u00a0
\n\u00a0
\n$
\n0.48
\n\u00a0
\n\u00a0
\n$
\n1,504
\n\u00a0
\n\u00a0
\n$
\n0.92
\n\u00a0
\n\u00a0
\n
\n
\n
<\/p>\n
(2) Inventory loss at (recovery from) contract manufacturer is related to losses due to an incident at a third-party contract manufacturing facility in Q1\u201924 and the corresponding recovery.
(3) Effective first quarter of 2025, licensing gain is reclassified against Marketing, general and administrative expenses as the amounts were immaterial.
(4) Release of reserves for uncertain tax positions pertains to the reasonable cause relief related to dual consolidated losses approved by IRS in Q2’25.
(5) Income from discontinued operations is related to ZT Systems’ manufacturing business which is classified as held-for-sale.<\/p>\n
\n
\n
\n
\n
\nRECONCILIATION OF GAAP TO ADJUSTED NON-GAAP FINANCIAL MEASURES
\n
\n
\n(Millions) (Unaudited)
\n\u00a0
\n
\n
\n\u00a0
\nThree Months Ended
\n
\n
\n\u00a0
<\/p>\n
2025
\n
\n
\n
\nGAAP gross profit
\n$
\n3,059
\n\u00a0
\n
\n
\nGAAP gross margin
\n\u00a0
\n40
\n%
\n
\n
\nStock-based compensation, amortization of acquisition-related intangibles, acquisition-related and other costs
\n\u00a0
\n267
\n\u00a0
\n
\n
\nInventory and related charges associated with U.S. export restrictions
\n\u00a0
\n800
\n\u00a0
\n
\n
\nNon-GAAP gross profit (as adjusted to exclude inventory and related charges associated with U.S. export restrictions)
\n$
\n4,126
\n\u00a0
\n
\n
\nNon-GAAP gross margin (as adjusted to exclude inventory and related charges associated with U.S. export restrictions)
\n\u00a0
\n54
\n%
\n
\n
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n
\n
\n
<\/p>\n
For more than 55 years AMD has driven innovation in high-performance computing, graphics and visualization technologies. AMD employees are focused on building leadership high-performance and adaptive products that push the boundaries of what is possible. Billions of people, leading Fortune 500 businesses and cutting-edge scientific research institutions around the world rely on AMD technology daily to improve how they live, work and play. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ: AMD) website<\/a>, blog<\/a>, LinkedIn<\/a> and X<\/a> pages.<\/p>\n
\n
\n
\n
\n(*)
\n\u00a0
\nIn this earnings press release, in addition to GAAP financial results, AMD has provided non-GAAP financial measures including non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating expenses\/revenue percent, non-GAAP operating income, non-GAAP operating margin, non-GAAP net income and non-GAAP diluted earnings per share. AMD uses a normalized tax rate in its computation of the non-GAAP income tax provision to provide better consistency across the reporting periods. For fiscal 2025, AMD used a non-GAAP tax rate of 13%, which excludes the tax impact of pre-tax non-GAAP adjustments. Additionally, AMD has provided an adjusted non-GAAP gross profit and gross margin for the second quarter of 2025 which excluded the inventory and related charges associated with U.S. export restrictions. AMD also provides adjusted EBITDA, free cash flow and free cash flow margin as supplemental non-GAAP measures of its performance. These items are defined in the footnotes to the selected corporate data tables provided at the end of this earnings press release. AMD is providing these financial measures because it believes this non-GAAP presentation makes it easier for investors to compare its operating results for current and historical periods and also because AMD believes it assists investors in comparing AMD\u2019s performance across reporting periods on a consistent basis by excluding items that it does not believe are indicative of its core operating performance and for the other reasons described in the footnotes to the selected data tables. The non-GAAP financial measures disclosed in this earnings press release should be viewed in addition to and not as a substitute for or superior to AMD\u2019s reported results prepared in accordance with GAAP and should be read only in conjunction with AMD\u2019s Consolidated Financial Statements prepared in accordance with GAAP. These non-GAAP financial measures referenced are reconciled to their most directly comparable GAAP financial measures in the data tables in this earnings press release. This earnings press release also contains forward-looking non-GAAP gross margin concerning AMD\u2019s financial outlook, which is based on current expectations as of November 4, 2025, and assumptions and beliefs that involve numerous risks and uncertainties. Adjustments to arrive at the GAAP gross margin outlook typically include stock-based compensation, amortization of acquired intangible assets and acquisition-related and other costs. The timing and impact of such adjustments are dependent on future events that are typically uncertain or outside of AMD’s control, therefore, a reconciliation to equivalent GAAP measures is not practicable at this time. AMD undertakes no intent or obligation to publicly update or revise its outlook statements as a result of new information, future events or otherwise, except as may be required by law.<\/p>\n
\n
\n
\n
<\/p>\n
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Millions except per share amounts and percentages) (Unaudited)<\/p>\n
\n
\n
\n
\n\u00a0
\n\u00a0
\nThree Months Ended
\n\u00a0
\nNine Months Ended
\n
\n
\n\u00a0
\n\u00a0
<\/p>\n
2025
\n
\n\u00a0
<\/p>\n
2025
\n
\n\u00a0
<\/p>\n
2024
\n
\n\u00a0
<\/p>\n
2025
\n
\n\u00a0
<\/p>\n
2024
\n
\n
\n
\nNet revenue
\n\u00a0
\n$
\n9,246
\n\u00a0
\n\u00a0
\n$
\n7,685
\n\u00a0
\n\u00a0
\n$
\n6,819
\n\u00a0
\n\u00a0
\n$
\n24,369
\n\u00a0
\n\u00a0
\n$
\n18,127
\n\u00a0
\n
\n
\nCost of sales
\n\u00a0
\n\u00a0
\n4,206
\n\u00a0
\n\u00a0
\n\u00a0
\n4,366
\n\u00a0
\n\u00a0
\n\u00a0
\n3,167
\n\u00a0
\n\u00a0
\n\u00a0
\n12,023
\n\u00a0
\n\u00a0
\n\u00a0
\n8,590
\n\u00a0
\n
\n
\nAmortization of acquisition-related intangibles
\n\u00a0
\n\u00a0
\n260
\n\u00a0
\n\u00a0
\n\u00a0
\n260
\n\u00a0
\n\u00a0
\n\u00a0
\n233
\n\u00a0
\n\u00a0
\n\u00a0
\n771
\n\u00a0
\n\u00a0
\n\u00a0
\n694
\n\u00a0
\n
\n
\nTotal cost of sales
\n\u00a0
\n\u00a0
\n4,466
\n\u00a0
\n\u00a0
\n\u00a0
\n4,626
\n\u00a0
\n\u00a0
\n\u00a0
\n3,400
\n\u00a0
\n\u00a0
\n\u00a0
\n12,794
\n\u00a0
\n\u00a0
\n\u00a0
\n9,284
\n\u00a0
\n
\n
\nGross profit
\n\u00a0
\n\u00a0
\n4,780
\n\u00a0
\n\u00a0
\n\u00a0
\n3,059
\n\u00a0
\n\u00a0
\n\u00a0
\n3,419
\n\u00a0
\n\u00a0
\n\u00a0
\n11,575
\n\u00a0
\n\u00a0
\n\u00a0
\n8,843
\n\u00a0
\n
\n
\nGross margin
\n\u00a0
\n\u00a0
\n52
\n%
\n\u00a0
\n\u00a0
\n40
\n%
\n\u00a0
\n\u00a0
\n50
\n%
\n\u00a0
\n\u00a0
\n47
\n%
\n\u00a0
\n\u00a0
\n49
\n%
\n
\n
\nResearch and development
\n\u00a0
\n\u00a0
\n2,139
\n\u00a0
\n\u00a0
\n\u00a0
\n1,894
\n\u00a0
\n\u00a0
\n\u00a0
\n1,636
\n\u00a0
\n\u00a0
\n\u00a0
\n5,761
\n\u00a0
\n\u00a0
\n\u00a0
\n4,744
\n\u00a0
\n
\n
\nMarketing, general and administrative
\n\u00a0
\n\u00a0
\n1,069
\n\u00a0
\n\u00a0
\n\u00a0
\n991
\n\u00a0
\n\u00a0
\n\u00a0
\n707
\n\u00a0
\n\u00a0
\n\u00a0
\n2,946
\n\u00a0
\n\u00a0
\n\u00a0
\n1,954
\n\u00a0
\n
\n
\nAmortization of acquisition-related intangibles
\n\u00a0
\n\u00a0
\n302
\n\u00a0
\n\u00a0
\n\u00a0
\n308
\n\u00a0
\n\u00a0
\n\u00a0
\n352
\n\u00a0
\n\u00a0
\n\u00a0
\n926
\n\u00a0
\n\u00a0
\n\u00a0
\n1,116
\n\u00a0
\n
\n
\nTotal operating expenses
\n\u00a0
\n\u00a0
\n3,510
\n\u00a0
\n\u00a0
\n\u00a0
\n3,193
\n\u00a0
\n\u00a0
\n\u00a0
\n2,695
\n\u00a0
\n\u00a0
\n\u00a0
\n9,633
\n\u00a0
\n\u00a0
\n\u00a0
\n7,814
\n\u00a0
\n
\n
\nOperating income (loss)
\n\u00a0
\n\u00a0
\n1,270
\n\u00a0
\n\u00a0
\n\u00a0
\n(134
\n)
\n\u00a0
\n\u00a0
\n724
\n\u00a0
\n\u00a0
\n\u00a0
\n1,942
\n\u00a0
\n\u00a0
\n\u00a0
\n1,029
\n\u00a0
\n
\n
\nInterest expense
\n\u00a0
\n\u00a0
\n(37
\n)
\n\u00a0
\n\u00a0
\n(38
\n)
\n\u00a0
\n\u00a0
\n(23
\n)
\n\u00a0
\n\u00a0
\n(95
\n)
\n\u00a0
\n\u00a0
\n(73
\n)
\n
\n
\nOther income (expense), net
\n\u00a0
\n\u00a0
\n82
\n\u00a0
\n\u00a0
\n\u00a0
\n98
\n\u00a0
\n\u00a0
\n\u00a0
\n36
\n\u00a0
\n\u00a0
\n\u00a0
\n219
\n\u00a0
\n\u00a0
\n\u00a0
\n144
\n\u00a0
\n
\n
\nIncome from continuing operations before income taxes and equity income
\n\u00a0
\n\u00a0
\n1,315
\n\u00a0
\n\u00a0
\n\u00a0
\n(74
\n)
\n\u00a0
\n\u00a0
\n737
\n\u00a0
\n\u00a0
\n\u00a0
\n2,066
\n\u00a0
\n\u00a0
\n\u00a0
\n1,100
\n\u00a0
\n
\n
\nIncome tax provision (benefit)
\n\u00a0
\n\u00a0
\n153
\n\u00a0
\n\u00a0
\n\u00a0
\n(834
\n)
\n\u00a0
\n\u00a0
\n(27
\n)
\n\u00a0
\n\u00a0
\n(558
\n)
\n\u00a0
\n\u00a0
\n(38
\n)
\n
\n
\nEquity income in investee
\n\u00a0
\n\u00a0
\n10
\n\u00a0
\n\u00a0
\n\u00a0
\n8
\n\u00a0
\n\u00a0
\n\u00a0
\n7
\n\u00a0
\n\u00a0
\n\u00a0
\n25
\n\u00a0
\n\u00a0
\n\u00a0
\n21
\n\u00a0
\n
\n
\nIncome from continuing operations, net of tax
\n\u00a0
\n\u00a0
\n1,172
\n\u00a0
\n\u00a0
\n\u00a0
\n768
\n\u00a0
\n\u00a0
\n\u00a0
\n771
\n\u00a0
\n\u00a0
\n\u00a0
\n2,649
\n\u00a0
\n\u00a0
\n\u00a0
\n1,159
\n\u00a0
\n
\n
\nIncome from discontinued operations, net of tax
\n\u00a0
\n\u00a0
\n71
\n\u00a0
\n\u00a0
\n\u00a0
\n104
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n175
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n
\n
\nNet income
\n\u00a0
\n$
\n1,243
\n\u00a0
\n\u00a0
\n$
\n872
\n\u00a0
\n\u00a0
\n$
\n771
\n\u00a0
\n\u00a0
\n$
\n2,824
\n\u00a0
\n\u00a0
\n$
\n1,159
\n\u00a0
\n
\n
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n
\n
\nEarnings per share:
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n
\n
\nEarnings from continuing operations – basic
\n\u00a0
\n$
\n0.72
\n\u00a0
\n\u00a0
\n$
\n0.47
\n\u00a0
\n\u00a0
\n$
\n0.48
\n\u00a0
\n\u00a0
\n$
\n1.63
\n\u00a0
\n\u00a0
\n$
\n0.72
\n\u00a0
\n
\n
\nEarnings from discontinued operations – basic
\n\u00a0
\n$
\n0.04
\n\u00a0
\n\u00a0
\n$
\n0.07
\n\u00a0
\n\u00a0
\n$
\n\u2014
\n\u00a0
\n\u00a0
\n$
\n0.11
\n\u00a0
\n\u00a0
\n$
\n\u2014
\n\u00a0
\n
\n
\nBasic earnings per share
\n\u00a0
\n$
\n0.76
\n\u00a0
\n\u00a0
\n$
\n0.54
\n\u00a0
\n\u00a0
\n$
\n0.48
\n\u00a0
\n\u00a0
\n$
\n1.74
\n\u00a0
\n\u00a0
\n$
\n0.72
\n\u00a0
\n
\n
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n
\n
\nEarnings from continuing operations – diluted
\n\u00a0
\n$
\n0.71
\n\u00a0
\n\u00a0
\n$
\n0.47
\n\u00a0
\n\u00a0
\n$
\n0.47
\n\u00a0
\n\u00a0
\n$
\n1.62
\n\u00a0
\n\u00a0
\n$
\n0.71
\n\u00a0
\n
\n
\nEarnings from discontinued operations – diluted
\n\u00a0
\n$
\n0.04
\n\u00a0
\n\u00a0
\n$
\n0.07
\n\u00a0
\n\u00a0
\n$
\n\u2014
\n\u00a0
\n\u00a0
\n$
\n0.11
\n\u00a0
\n\u00a0
\n$
\n\u2014
\n\u00a0
\n
\n
\nDiluted earnings per share
\n\u00a0
\n$
\n0.75
\n\u00a0
\n\u00a0
\n$
\n0.54
\n\u00a0
\n\u00a0
\n$
\n0.47
\n\u00a0
\n\u00a0
\n$
\n1.73
\n\u00a0
\n\u00a0
\n$
\n0.71
\n\u00a0
\n
\n
\nShares used in per share calculation
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n
\n
\nBasic
\n\u00a0
\n\u00a0
\n1,626
\n\u00a0
\n\u00a0
\n\u00a0
\n1,623
\n\u00a0
\n\u00a0
\n\u00a0
\n1,620
\n\u00a0
\n\u00a0
\n\u00a0
\n1,623
\n\u00a0
\n\u00a0
\n\u00a0
\n1,619
\n\u00a0
\n
\n
\nDiluted
\n\u00a0
\n\u00a0
\n1,641
\n\u00a0
\n\u00a0
\n\u00a0
\n1,630
\n\u00a0
\n\u00a0
\n\u00a0
\n1,636
\n\u00a0
\n\u00a0
\n\u00a0
\n1,632
\n\u00a0
\n\u00a0
\n\u00a0
\n1,638
\n\u00a0
\n
\n
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n
\n
\n
<\/p>\n
CONDENSED CONSOLIDATED BALANCE SHEETS
(Millions)<\/p>\n
\n
\n
\n
\n\u00a0
\n\u00a0
<\/p>\n
2025
\n
\n\u00a0
<\/p>\n
2024
\n
\n
\n
\n\u00a0
\n\u00a0
\n(Unaudited)
\n\u00a0
\n\u00a0
\n
\n
\nASSETS
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n
\n
\nCurrent assets:
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n
\n
\nCash and cash equivalents
\n\u00a0
\n$
\n4,808
\n\u00a0
\n\u00a0
\n$
\n3,787
\n\u00a0
\n
\n
\nShort-term investments
\n\u00a0
\n\u00a0
\n2,435
\n\u00a0
\n\u00a0
\n\u00a0
\n1,345
\n\u00a0
\n
\n
\nAccounts receivable, net
\n\u00a0
\n\u00a0
\n6,201
\n\u00a0
\n\u00a0
\n\u00a0
\n6,192
\n\u00a0
\n
\n
\nInventories
\n\u00a0
\n\u00a0
\n7,313
\n\u00a0
\n\u00a0
\n\u00a0
\n5,734
\n\u00a0
\n
\n
\nAssets held for sale
\n\u00a0
\n\u00a0
\n3,990
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n
\n
\nPrepaid expenses and other current assets
\n\u00a0
\n\u00a0
\n2,253
\n\u00a0
\n\u00a0
\n\u00a0
\n1,991
\n\u00a0
\n
\n
\nTotal current assets
\n\u00a0
\n\u00a0
\n27,000
\n\u00a0
\n\u00a0
\n\u00a0
\n19,049
\n\u00a0
\n
\n
\nProperty and equipment, net
\n\u00a0
\n\u00a0
\n2,205
\n\u00a0
\n\u00a0
\n\u00a0
\n1,802
\n\u00a0
\n
\n
\nGoodwill
\n\u00a0
\n\u00a0
\n25,083
\n\u00a0
\n\u00a0
\n\u00a0
\n24,839
\n\u00a0
\n
\n
\nAcquisition-related intangibles, net
\n\u00a0
\n\u00a0
\n17,250
\n\u00a0
\n\u00a0
\n\u00a0
\n18,930
\n\u00a0
\n
\n
\nDeferred tax assets
\n\u00a0
\n\u00a0
\n633
\n\u00a0
\n\u00a0
\n\u00a0
\n688
\n\u00a0
\n
\n
\nOther non-current assets
\n\u00a0
\n\u00a0
\n4,720
\n\u00a0
\n\u00a0
\n\u00a0
\n3,918
\n\u00a0
\n
\n
\nTotal Assets
\n\u00a0
\n$
\n76,891
\n\u00a0
\n\u00a0
\n$
\n69,226
\n\u00a0
\n
\n
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n
\n
\nLIABILITIES AND STOCKHOLDERS’ EQUITY
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n
\n
\nCurrent liabilities:
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n
\n
\nAccounts payable
\n\u00a0
\n$
\n3,483
\n\u00a0
\n\u00a0
\n$
\n2,466
\n\u00a0
\n
\n
\nAccrued liabilities
\n\u00a0
\n\u00a0
\n5,112
\n\u00a0
\n\u00a0
\n\u00a0
\n4,260
\n\u00a0
\n
\n
\nCurrent portion of long-term debt, net
\n\u00a0
\n\u00a0
\n873
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n
\n
\nLiabilities held for sale
\n\u00a0
\n\u00a0
\n1,908
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n
\n
\nOther current liabilities
\n\u00a0
\n\u00a0
\n324
\n\u00a0
\n\u00a0
\n\u00a0
\n555
\n\u00a0
\n
\n
\nTotal current liabilities
\n\u00a0
\n\u00a0
\n11,700
\n\u00a0
\n\u00a0
\n\u00a0
\n7,281
\n\u00a0
\n
\n
\nLong-term debt
\n\u00a0
\n\u00a0
\n2,347
\n\u00a0
\n\u00a0
\n\u00a0
\n1,721
\n\u00a0
\n
\n
\nLong-term operating lease liabilities
\n\u00a0
\n\u00a0
\n650
\n\u00a0
\n\u00a0
\n\u00a0
\n491
\n\u00a0
\n
\n
\nDeferred tax liabilities
\n\u00a0
\n\u00a0
\n326
\n\u00a0
\n\u00a0
\n\u00a0
\n349
\n\u00a0
\n
\n
\nOther long-term liabilities
\n\u00a0
\n\u00a0
\n1,078
\n\u00a0
\n\u00a0
\n\u00a0
\n1,816
\n\u00a0
\n
\n
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n
\n
\nStockholders’ equity:
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n
\n
\nCapital stock:
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n
\n
\nCommon stock, par value $0.01
\n\u00a0
\n\u00a0
\n17
\n\u00a0
\n\u00a0
\n\u00a0
\n17
\n\u00a0
\n
\n
\nAdditional paid-in capital
\n\u00a0
\n\u00a0
\n62,657
\n\u00a0
\n\u00a0
\n\u00a0
\n61,362
\n\u00a0
\n
\n
\nTreasury stock, at cost
\n\u00a0
\n\u00a0
\n(7,059
\n)
\n\u00a0
\n\u00a0
\n(6,106
\n)
\n
\n
\nRetained earnings
\n\u00a0
\n\u00a0
\n5,188
\n\u00a0
\n\u00a0
\n\u00a0
\n2,364
\n\u00a0
\n
\n
\nAccumulated other comprehensive loss
\n\u00a0
\n\u00a0
\n(13
\n)
\n\u00a0
\n\u00a0
\n(69
\n)
\n
\n
\nTotal stockholders’ equity
\n\u00a0
\n\u00a0
\n60,790
\n\u00a0
\n\u00a0
\n\u00a0
\n57,568
\n\u00a0
\n
\n
\nTotal Liabilities and Stockholders’ Equity
\n\u00a0
\n$
\n76,891
\n\u00a0
\n\u00a0
\n$
\n69,226
\n\u00a0
\n
\n
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n
\n
\n
<\/p>\n
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Millions) (Unaudited)<\/p>\n
\n
\n
\n
\n\u00a0
\n\u00a0
\nThree Months Ended
\n\u00a0
\nNine Months Ended
\n\u00a0
\n
\n
\n\u00a0
\n\u00a0
<\/p>\n
2025
\n
\n\u00a0
<\/p>\n
2024
\n
\n\u00a0
<\/p>\n
2025
\n
\n\u00a0
<\/p>\n
2024
\n
\n\u00a0
\n
\n
\nCash flows from operating activities:
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n
\n
\nNet income
\n\u00a0
\n$
\n1,243
\n\u00a0
\n\u00a0
\n$
\n771
\n\u00a0
\n\u00a0
\n$
\n2,824
\n\u00a0
\n\u00a0
\n$
\n1,159
\n\u00a0
\n\u00a0
\n
\n
\nIncome from discontinued operations, net of tax
\n\u00a0
\n\u00a0
\n(71
\n)
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n(175
\n)
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n
\n
\nAdjustments to reconcile net income to net cash provided by operating activities:
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n
\n
\nDepreciation and amortization
\n\u00a0
\n\u00a0
\n192
\n\u00a0
\n\u00a0
\n\u00a0
\n171
\n\u00a0
\n\u00a0
\n\u00a0
\n556
\n\u00a0
\n\u00a0
\n\u00a0
\n499
\n\u00a0
\n\u00a0
\n
\n
\nAmortization of acquisition-related intangibles
\n\u00a0
\n\u00a0
\n562
\n\u00a0
\n\u00a0
\n\u00a0
\n585
\n\u00a0
\n\u00a0
\n\u00a0
\n1,697
\n\u00a0
\n\u00a0
\n\u00a0
\n1,810
\n\u00a0
\n\u00a0
\n
\n
\nStock-based compensation
\n\u00a0
\n\u00a0
\n419
\n\u00a0
\n\u00a0
\n\u00a0
\n351
\n\u00a0
\n\u00a0
\n\u00a0
\n1,152
\n\u00a0
\n\u00a0
\n\u00a0
\n1,068
\n\u00a0
\n\u00a0
\n
\n
\nDeferred income taxes
\n\u00a0
\n\u00a0
\n218
\n\u00a0
\n\u00a0
\n\u00a0
\n(607
\n)
\n\u00a0
\n\u00a0
\n18
\n\u00a0
\n\u00a0
\n\u00a0
\n(863
\n)
\n\u00a0
\n
\n
\nRelease of reserves for uncertain tax positions
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n(853
\n)
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n
\n
\nInventory loss at (recovery from) contract manufacturer
\n\u00a0
\n\u00a0
\n(67
\n)
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n(67
\n)
\n\u00a0
\n\u00a0
\n65
\n\u00a0
\n\u00a0
\n
\n
\nOther
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n17
\n\u00a0
\n\u00a0
\n\u00a0
\n29
\n\u00a0
\n\u00a0
\n\u00a0
\n32
\n\u00a0
\n\u00a0
\n
\n
\nChanges in operating assets and liabilities:
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n
\n
\nAccounts receivable, net
\n\u00a0
\n\u00a0
\n(1,085
\n)
\n\u00a0
\n\u00a0
\n(2,213
\n)
\n\u00a0
\n\u00a0
\n(7
\n)
\n\u00a0
\n\u00a0
\n(1,961
\n)
\n\u00a0
\n
\n
\nInventories
\n\u00a0
\n\u00a0
\n(636
\n)
\n\u00a0
\n\u00a0
\n(386
\n)
\n\u00a0
\n\u00a0
\n(1,579
\n)
\n\u00a0
\n\u00a0
\n(1,096
\n)
\n\u00a0
\n
\n
\nPrepaid expenses and current assets
\n\u00a0
\n\u00a0
\n118
\n\u00a0
\n\u00a0
\n\u00a0
\n703
\n\u00a0
\n\u00a0
\n\u00a0
\n(259
\n)
\n\u00a0
\n\u00a0
\n(171
\n)
\n\u00a0
\n
\n
\nAccounts payable
\n\u00a0
\n\u00a0
\n451
\n\u00a0
\n\u00a0
\n\u00a0
\n873
\n\u00a0
\n\u00a0
\n\u00a0
\n998
\n\u00a0
\n\u00a0
\n\u00a0
\n574
\n\u00a0
\n\u00a0
\n
\n
\nAccrued and other liabilities
\n\u00a0
\n\u00a0
\n444
\n\u00a0
\n\u00a0
\n\u00a0
\n363
\n\u00a0
\n\u00a0
\n\u00a0
\n(145
\n)
\n\u00a0
\n\u00a0
\n626
\n\u00a0
\n\u00a0
\n
\n
\nNet cash provided by operating activities of continuing operations
\n\u00a0
\n\u00a0
\n1,788
\n\u00a0
\n\u00a0
\n\u00a0
\n628
\n\u00a0
\n\u00a0
\n\u00a0
\n4,189
\n\u00a0
\n\u00a0
\n\u00a0
\n1,742
\n\u00a0
\n\u00a0
\n
\n
\nNet cash provided by operating activities of discontinued operations
\n\u00a0
\n\u00a0
\n371
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n920
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n
\n
\nNet cash flows provided by operations
\n\u00a0
\n\u00a0
\n2,159
\n\u00a0
\n\u00a0
\n\u00a0
\n628
\n\u00a0
\n\u00a0
\n\u00a0
\n5,109
\n\u00a0
\n\u00a0
\n\u00a0
\n1,742
\n\u00a0
\n\u00a0
\n
\n
\nCash flows from investing activities:
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n
\n
\nPurchases of property and equipment
\n\u00a0
\n\u00a0
\n(258
\n)
\n\u00a0
\n\u00a0
\n(132
\n)
\n\u00a0
\n\u00a0
\n(752
\n)
\n\u00a0
\n\u00a0
\n(428
\n)
\n\u00a0
\n
\n
\nPurchases of short-term investments
\n\u00a0
\n\u00a0
\n(1,314
\n)
\n\u00a0
\n\u00a0
\n(142
\n)
\n\u00a0
\n\u00a0
\n(2,110
\n)
\n\u00a0
\n\u00a0
\n(707
\n)
\n\u00a0
\n
\n
\nProceeds from maturity of short-term investments
\n\u00a0
\n\u00a0
\n299
\n\u00a0
\n\u00a0
\n\u00a0
\n149
\n\u00a0
\n\u00a0
\n\u00a0
\n982
\n\u00a0
\n\u00a0
\n\u00a0
\n1,351
\n\u00a0
\n\u00a0
\n
\n
\nProceeds from sale of short-term investments
\n\u00a0
\n\u00a0
\n18
\n\u00a0
\n\u00a0
\n\u00a0
\n589
\n\u00a0
\n\u00a0
\n\u00a0
\n66
\n\u00a0
\n\u00a0
\n\u00a0
\n591
\n\u00a0
\n\u00a0
\n
\n
\nPurchases of strategic investments
\n\u00a0
\n\u00a0
\n(74
\n)
\n\u00a0
\n\u00a0
\n(37
\n)
\n\u00a0
\n\u00a0
\n(432
\n)
\n\u00a0
\n\u00a0
\n(131
\n)
\n\u00a0
\n
\n
\nAcquisitions, net of cash acquired
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n(548
\n)
\n\u00a0
\n\u00a0
\n(1,716
\n)
\n\u00a0
\n\u00a0
\n(548
\n)
\n\u00a0
\n
\n
\nOther
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n(17
\n)
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n(15
\n)
\n\u00a0
\n
\n
\nNet cash (used in) provided by investing activities of continuing operations
\n\u00a0
\n\u00a0
\n(1,329
\n)
\n\u00a0
\n\u00a0
\n(138
\n)
\n\u00a0
\n\u00a0
\n(3,962
\n)
\n\u00a0
\n\u00a0
\n113
\n\u00a0
\n\u00a0
\n
\n
\nNet cash (used in) investing activities of discontinued operations
\n\u00a0
\n\u00a0
\n(8
\n)
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n(30
\n)
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n
\n
\nNet cash flows (used in) provided by investing activities
\n\u00a0
\n\u00a0
\n(1,337
\n)
\n\u00a0
\n\u00a0
\n(138
\n)
\n\u00a0
\n\u00a0
\n(3,992
\n)
\n\u00a0
\n\u00a0
\n113
\n\u00a0
\n\u00a0
\n
\n
\nCash flows from financing activities:
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n
\n
\nProceeds from debt and commercial paper issuance, net of issuance costs
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n2,441
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n
\n
\nRepayment of debt and commercial paper
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n(950
\n)
\n\u00a0
\n\u00a0
\n(750
\n)
\n\u00a0
\n
\n
\nProceeds from sales of common stock through employee equity plans
\n\u00a0
\n\u00a0
\n10
\n\u00a0
\n\u00a0
\n\u00a0
\n4
\n\u00a0
\n\u00a0
\n\u00a0
\n169
\n\u00a0
\n\u00a0
\n\u00a0
\n152
\n\u00a0
\n\u00a0
\n
\n
\nRepurchases of common stock
\n\u00a0
\n\u00a0
\n(89
\n)
\n\u00a0
\n\u00a0
\n(250
\n)
\n\u00a0
\n\u00a0
\n(1,316
\n)
\n\u00a0
\n\u00a0
\n(606
\n)
\n\u00a0
\n
\n
\nStock repurchases for tax withholding on employee equity plans
\n\u00a0
\n\u00a0
\n(371
\n)
\n\u00a0
\n\u00a0
\n(460
\n)
\n\u00a0
\n\u00a0
\n(447
\n)
\n\u00a0
\n\u00a0
\n(686
\n)
\n\u00a0
\n
\n
\nOther
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n(1
\n)
\n\u00a0
\n
\n
\nNet cash (used in) provided by financing activities of continuing operations
\n\u00a0
\n\u00a0
\n(450
\n)
\n\u00a0
\n\u00a0
\n(706
\n)
\n\u00a0
\n\u00a0
\n(103
\n)
\n\u00a0
\n\u00a0
\n(1,891
\n)
\n\u00a0
\n
\n
\nNet (decrease) increase in cash, cash equivalents and restricted cash
\n\u00a0
\n\u00a0
\n372
\n\u00a0
\n\u00a0
\n\u00a0
\n(216
\n)
\n\u00a0
\n\u00a0
\n1,014
\n\u00a0
\n\u00a0
\n\u00a0
\n(36
\n)
\n\u00a0
\n
\n
\nCash, cash equivalents and restricted cash at beginning of period
\n\u00a0
\n\u00a0
\n4,453
\n\u00a0
\n\u00a0
\n\u00a0
\n4,113
\n\u00a0
\n\u00a0
\n\u00a0
\n3,811
\n\u00a0
\n\u00a0
\n\u00a0
\n3,933
\n\u00a0
\n\u00a0
\n
\n
\nCash, cash equivalents and restricted cash at end of period
\n\u00a0
\n$
\n4,825
\n\u00a0
\n\u00a0
\n$
\n3,897
\n\u00a0
\n\u00a0
\n$
\n4,825
\n\u00a0
\n\u00a0
\n$
\n3,897
\n\u00a0
\n\u00a0
\n
\n
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n
\n
\nReconciliation of cash, cash equivalents and restricted cash
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n
\n
\nCash and cash equivalents
\n\u00a0
\n$
\n4,808
\n\u00a0
\n\u00a0
\n$
\n3,897
\n\u00a0
\n\u00a0
\n$
\n4,808
\n\u00a0
\n\u00a0
\n$
\n3,897
\n\u00a0
\n\u00a0
\n
\n
\nRestricted cash included in Prepaid expenses and other current assets
\n\u00a0
\n\u00a0
\n17
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n17
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n
\n
\nCash, cash equivalents and restricted cash at end of period
\n\u00a0
\n$
\n4,825
\n\u00a0
\n\u00a0
\n$
\n3,897
\n\u00a0
\n\u00a0
\n$
\n4,825
\n\u00a0
\n\u00a0
\n$
\n3,897
\n\u00a0
\n\u00a0
\n
\n
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n
\n
\n
<\/p>\n
SELECTED CORPORATE DATA
(Millions) (Unaudited)<\/p>\n
\n
\n
\n
\n\u00a0
\n\u00a0
\nThree Months Ended
\n\u00a0
\nNine Months Ended
\n
\n
\n\u00a0
\n\u00a0
<\/p>\n
2025
\n
\n\u00a0
<\/p>\n
2025
\n
\n\u00a0
<\/p>\n
2024
\n
\n\u00a0
<\/p>\n
2025
\n
\n\u00a0
<\/p>\n
2024
\n
\n
\n
<\/p>\n
\n
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n
\n
\nNet Revenue:
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n
\n
\nData Center Segment
\n\u00a0
\n$
\n4,341
\n\u00a0
\n\u00a0
\n$
\n3,240
\n\u00a0
\n\u00a0
\n$
\n3,549
\n\u00a0
\n\u00a0
\n$
\n11,255
\n\u00a0
\n\u00a0
\n$
\n8,720
\n\u00a0
\n
\n
\nClient and Gaming Segment
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n
\n
\nClient
\n\u00a0
\n\u00a0
\n2,750
\n\u00a0
\n\u00a0
\n\u00a0
\n2,499
\n\u00a0
\n\u00a0
\n\u00a0
\n1,881
\n\u00a0
\n\u00a0
\n\u00a0
\n7,543
\n\u00a0
\n\u00a0
\n\u00a0
\n4,741
\n\u00a0
\n
\n
\nGaming
\n\u00a0
\n\u00a0
\n1,298
\n\u00a0
\n\u00a0
\n\u00a0
\n1,122
\n\u00a0
\n\u00a0
\n\u00a0
\n462
\n\u00a0
\n\u00a0
\n\u00a0
\n3,067
\n\u00a0
\n\u00a0
\n\u00a0
\n2,032
\n\u00a0
\n
\n
\nTotal Client and Gaming
\n\u00a0
\n\u00a0
\n4,048
\n\u00a0
\n\u00a0
\n\u00a0
\n3,621
\n\u00a0
\n\u00a0
\n\u00a0
\n2,343
\n\u00a0
\n\u00a0
\n\u00a0
\n10,610
\n\u00a0
\n\u00a0
\n\u00a0
\n6,773
\n\u00a0
\n
\n
\nEmbedded Segment
\n\u00a0
\n\u00a0
\n857
\n\u00a0
\n\u00a0
\n\u00a0
\n824
\n\u00a0
\n\u00a0
\n\u00a0
\n927
\n\u00a0
\n\u00a0
\n\u00a0
\n2,504
\n\u00a0
\n\u00a0
\n\u00a0
\n2,634
\n\u00a0
\n
\n
\nTotal net revenue
\n\u00a0
\n$
\n9,246
\n\u00a0
\n\u00a0
\n$
\n7,685
\n\u00a0
\n\u00a0
\n$
\n6,819
\n\u00a0
\n\u00a0
\n$
\n24,369
\n\u00a0
\n\u00a0
\n$
\n18,127
\n\u00a0
\n
\n
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n
\n
\nOperating Income (Loss):
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n
\n
\nData Center Segment
\n\u00a0
\n$
\n1,074
\n\u00a0
\n\u00a0
\n$
\n(155
\n)
\n\u00a0
\n$
\n1,041
\n\u00a0
\n\u00a0
\n$
\n1,851
\n\u00a0
\n\u00a0
\n$
\n2,325
\n\u00a0
\n
\n
\nClient and Gaming Segment
\n\u00a0
\n\u00a0
\n867
\n\u00a0
\n\u00a0
\n\u00a0
\n767
\n\u00a0
\n\u00a0
\n\u00a0
\n288
\n\u00a0
\n\u00a0
\n\u00a0
\n2,130
\n\u00a0
\n\u00a0
\n\u00a0
\n691
\n\u00a0
\n
\n
\nEmbedded Segment
\n\u00a0
\n\u00a0
\n283
\n\u00a0
\n\u00a0
\n\u00a0
\n275
\n\u00a0
\n\u00a0
\n\u00a0
\n372
\n\u00a0
\n\u00a0
\n\u00a0
\n886
\n\u00a0
\n\u00a0
\n\u00a0
\n1,059
\n\u00a0
\n
\n
\nAll other
\n\u00a0
\n\u00a0
\n(954
\n)
\n\u00a0
\n\u00a0
\n(1,021
\n)
\n\u00a0
\n\u00a0
\n(977
\n)
\n\u00a0
\n\u00a0
\n(2,925
\n)
\n\u00a0
\n\u00a0
\n(3,046
\n)
\n
\n
\nTotal operating income (loss)
\n\u00a0
\n$
\n1,270
\n\u00a0
\n\u00a0
\n$
\n(134
\n)
\n\u00a0
\n$
\n724
\n\u00a0
\n\u00a0
\n$
\n1,942
\n\u00a0
\n\u00a0
\n$
\n1,029
\n\u00a0
\n
\n
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n
\n
\nOther Data
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n\u00a0
\n
\n
\nCapital expenditures
\n\u00a0
\n$
\n258
\n\u00a0
\n\u00a0
\n$
\n282
\n\u00a0
\n\u00a0
\n$
\n132
\n\u00a0
\n\u00a0
\n$
\n752
\n\u00a0
\n\u00a0
\n$
\n428
\n\u00a0
\n
\n
\nAdjusted EBITDA(2)
\n
\n\u00a0
\n$
\n2,431
\n\u00a0
\n\u00a0
\n$
\n1,088
\n\u00a0
\n\u00a0
\n$
\n1,887
\n\u00a0
\n\u00a0
\n$
\n5,473
\n\u00a0
\n\u00a0
\n$
\n4,612
\n\u00a0
\n
\n
\nCash, cash equivalents and short-term investments
\n\u00a0
\n$
\n7,243
\n\u00a0
\n\u00a0
\n$
\n5,867
\n\u00a0
\n\u00a0
\n$
\n4,544
\n\u00a0
\n\u00a0
\n$
\n7,243
\n\u00a0
\n\u00a0
\n$
\n4,544
\n\u00a0
\n
\n
\nFree cash flow(3)
\n
\n\u00a0
\n$
\n1,530
\n\u00a0
\n\u00a0
\n$
\n1,180
\n\u00a0
\n\u00a0
\n$
\n496
\n\u00a0
\n\u00a0
\n$
\n3,437
\n\u00a0
\n\u00a0
\n$
\n1,314
\n\u00a0
\n
\n
\nTotal assets
\n\u00a0
\n$
\n76,891
\n\u00a0
\n\u00a0
\n$
\n74,820
\n\u00a0
\n\u00a0
\n$
\n69,636
\n\u00a0
\n\u00a0
\n$
\n76,891
\n\u00a0
\n\u00a0
\n$
\n69,636
\n\u00a0
\n
\n
\nTotal debt
\n\u00a0
\n$
\n3,220
\n\u00a0
\n\u00a0
\n$
\n3,218
\n\u00a0
\n\u00a0
\n$
\n1,720
\n\u00a0
\n\u00a0
\n$
\n3,220
\n\u00a0
\n\u00a0
\n$
\n1,720
\n\u00a0
\n
\n
\n
<\/p>\n
\n
\n
\n
\n\u00a0
\n\u00a0
\nThree Months Ended
\n\u00a0
\nNine Months Ended
\n
\n
\n(Millions) (Unaudited)
\n\u00a0
<\/p>\n
2025
\n
\n\u00a0
<\/p>\n
2025
\n
\n\u00a0
<\/p>\n
2024
\n
\n\u00a0
<\/p>\n
2025
\n
\n\u00a0
<\/p>\n
2024
\n
\n
\n
\nGAAP net income
\n\u00a0
\n$
\n1,243
\n\u00a0
\n\u00a0
\n$
\n872
\n\u00a0
\n\u00a0
\n$
\n771
\n\u00a0
\n\u00a0
\n$
\n2,824
\n\u00a0
\n\u00a0
\n$
\n1,159
\n\u00a0
\n
\n
\nInterest expense
\n\u00a0
\n\u00a0
\n37
\n\u00a0
\n\u00a0
\n\u00a0
\n38
\n\u00a0
\n\u00a0
\n\u00a0
\n23
\n\u00a0
\n\u00a0
\n\u00a0
\n95
\n\u00a0
\n\u00a0
\n\u00a0
\n73
\n\u00a0
\n
\n
\nOther (income) expense, net
\n\u00a0
\n\u00a0
\n(82
\n)
\n\u00a0
\n\u00a0
\n(98
\n)
\n\u00a0
\n\u00a0
\n(36
\n)
\n\u00a0
\n\u00a0
\n(219
\n)
\n\u00a0
\n\u00a0
\n(144
\n)
\n
\n
\nIncome tax provision (benefit)
\n\u00a0
\n\u00a0
\n153
\n\u00a0
\n\u00a0
\n\u00a0
\n(834
\n)
\n\u00a0
\n\u00a0
\n(27
\n)
\n\u00a0
\n\u00a0
\n(558
\n)
\n\u00a0
\n\u00a0
\n(38
\n)
\n
\n
\nEquity income in investee
\n\u00a0
\n\u00a0
\n(10
\n)
\n\u00a0
\n\u00a0
\n(8
\n)
\n\u00a0
\n\u00a0
\n(7
\n)
\n\u00a0
\n\u00a0
\n(25
\n)
\n\u00a0
\n\u00a0
\n(21
\n)
\n
\n
\nStock-based compensation
\n\u00a0
\n\u00a0
\n419
\n\u00a0
\n\u00a0
\n\u00a0
\n369
\n\u00a0
\n\u00a0
\n\u00a0
\n351
\n\u00a0
\n\u00a0
\n\u00a0
\n1,152
\n\u00a0
\n\u00a0
\n\u00a0
\n1,068
\n\u00a0
\n
\n
\nDepreciation and amortization
\n\u00a0
\n\u00a0
\n192
\n\u00a0
\n\u00a0
\n\u00a0
\n189
\n\u00a0
\n\u00a0
\n\u00a0
\n171
\n\u00a0
\n\u00a0
\n\u00a0
\n556
\n\u00a0
\n\u00a0
\n\u00a0
\n499
\n\u00a0
\n
\n
\nAmortization of acquisition-related intangibles
\n\u00a0
\n\u00a0
\n562
\n\u00a0
\n\u00a0
\n\u00a0
\n568
\n\u00a0
\n\u00a0
\n\u00a0
\n585
\n\u00a0
\n\u00a0
\n\u00a0
\n1,697
\n\u00a0
\n\u00a0
\n\u00a0
\n1,810
\n\u00a0
\n
\n
\nAcquisition-related and other costs
\n\u00a0
\n\u00a0
\n43
\n\u00a0
\n\u00a0
\n\u00a0
\n96
\n\u00a0
\n\u00a0
\n\u00a0
\n56
\n\u00a0
\n\u00a0
\n\u00a0
\n181
\n\u00a0
\n\u00a0
\n\u00a0
\n141
\n\u00a0
\n
\n
\nInventory loss at (recovery from) contract manufacturer
\n\u00a0
\n\u00a0
\n(67
\n)
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n(67
\n)
\n\u00a0
\n\u00a0
\n65
\n\u00a0
\n
\n
\nLoss contingency on legal matter
\n\u00a0
\n\u00a0
\n12
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n12
\n\u00a0
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n
\n
\nIncome from discontinued operations, net of tax
\n\u00a0
\n\u00a0
\n(71
\n)
\n\u00a0
\n\u00a0
\n(104
\n)
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n\u00a0
\n\u00a0
\n(175
\n)
\n\u00a0
\n\u00a0
\n\u2014
\n\u00a0
\n
\n
\nAdjusted EBITDA
\n\u00a0
\n$
\n2,431
\n\u00a0
\n\u00a0
\n$
\n1,088
\n\u00a0
\n\u00a0
\n$
\n1,887
\n\u00a0
\n\u00a0
\n$
\n5,473
\n\u00a0
\n\u00a0
\n$
\n4,612
\n\u00a0
\n
\n
\n
<\/p>\n
\n
\n
\n
\n\u00a0
\n\u00a0
\nThree Months Ended
\n\u00a0
\nNine Months Ended
\n
\n
\n(Millions except percentages) (Unaudited)
\n\u00a0
<\/p>\n
2025
\n
\n\u00a0
<\/p>\n
2025
\n
\n\u00a0
<\/p>\n
2024
\n
\n\u00a0
<\/p>\n
2025
\n
\n\u00a0
<\/p>\n
2024
\n
\n
\n
\nGAAP net cash provided by operating activities of continuing operations
\n\u00a0
\n$
\n1,788
\n\u00a0
\n\u00a0
\n$
\n1,462
\n\u00a0
\n\u00a0
\n$
\n628
\n\u00a0
\n\u00a0
\n$
\n4,189
\n\u00a0
\n\u00a0
\n$
\n1,742
\n\u00a0
\n
\n
\nOperating cash flow margin % from continuing operations
\n\u00a0
\n\u00a0
\n19
\n%
\n\u00a0
\n\u00a0
\n19
\n%
\n\u00a0
\n\u00a0
\n9
\n%
\n\u00a0
\n\u00a0
\n17
\n%
\n\u00a0
\n\u00a0
\n10
\n%
\n
\n
\nPurchases of property and equipment
\n\u00a0
\n\u00a0
\n(258
\n)
\n\u00a0
\n\u00a0
\n(282
\n)
\n\u00a0
\n\u00a0
\n(132
\n)
\n\u00a0
\n\u00a0
\n(752
\n)
\n\u00a0
\n\u00a0
\n(428
\n)
\n
\n
\nFree cash flow
\n\u00a0
\n$
\n1,530
\n\u00a0
\n\u00a0
\n$
\n1,180
\n\u00a0
\n\u00a0
\n$
\n496
\n\u00a0
\n\u00a0
\n$
\n3,437
\n\u00a0
\n\u00a0
\n$
\n1,314
\n\u00a0
\n
\n
\nFree cash flow margin %
\n\u00a0
\n\u00a0
\n17
\n%
\n\u00a0
\n\u00a0
\n15
\n%
\n\u00a0
\n\u00a0
\n7
\n%
\n\u00a0
\n\u00a0
\n14
\n%
\n\u00a0
\n\u00a0
\n7
\n%
\n
\n
\n
<\/p>\n
\n
<\/p>\n
Phil Hughes
AMD Communications
512-865-9697
phil.hughes@amd.com<\/a><\/p>\n
Liz Stine
AMD Investor Relations
720-652-3965
liz.stine@amd.com<\/a><\/p>\n
\n
<\/p>\n![\"Primary](\"https:\/\/www.newsbeep.com\/ca\/wp-content\/uploads\/2025\/11\/amd-logo-black-jpg.jpg\"){kind=logo}
<\/a><\/p>\n
\nSource: Advanced Micro Devices, Inc. \t<\/p>\n
\n