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AMD reports 3Q16 results

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AMD reports 3Q16 results
Michael McManus, DIGITIMES, Taipei [Tuesday 25 October 2016]

​AMD has announced revenues for the third quarter of 2016 of US$1,307 million, operating losses of US$293 million, and a net loss of US$406 million, or US$0.50 per share. Non-GAAP1 operating income was US$70 million and non-GAAP1 net income was US$27 million, or US$0.03 per share.

The revenues of US$1,307 million were up 27% sequentially and up 23% year-over-year primarily due to record semi-custom SoC and higher GPU and mobile APU sales, partially offset by client desktop processor and chipset sales. Gross margins were 5%, down from 31% from the previous quarter due to a US$340 million charge related to the 6th amendment to the Wafer Supply Agreement (WSA) with Global Foundries.

The company’s computing and graphics segment revenues were US$472 million, an increase of 9% sequentially and 11% from the third quarter of 2015. The sequential and year-over-year increases were driven primarily by increased sales of GPUs, offset by decreased sales of client desktop processors and chipsets.

The year-over-year increase was also driven by increased sales of client mobile processors. Operating losses were US$66 million, compared with an operating loss of US$81 million in the second quarter of 2016 and an operating loss of US$181 million in the third quarter of 2015.

The sequential improvement was driven primarily by higher GPU revenues, and the year-over-year improvement was primarily due to higher GPU revenues and the absence of an inventory write-down charges. The client average selling price (ASP) decreased sequentially driven by lower mobile and desktop processor ASPs and was flat year-over-year. The GPU ASP increased sequentially and year-over-year driven by a higher channel and professional graphics ASPs.

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AMD reports 3Q16 results
Michael McManus,…

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