AMD's fourth quarter revenue of $ 2.1 billion, net profit increased by 347% year-on-year

AMD today announced its fourth quarter and full year financial results for fiscal 2019. The report shows that AMD ’s fourth-quarter revenue was US $ 2.13 billion, an increase of 50% from US $ 1.42 billion in the same period last year, and an increase of 18% from US $ 1.80 billion in the previous quarter. Net profit was US $ 170 million, which was US $ 38 million increased by 347%, and net profit in the previous quarter was US $ 120 million. AMD ’s fourth-quarter results exceeded Wall Street analyst expectations, but its revenue outlook for the first quarter of fiscal 2020 failed to meet expectations, causing its after-hours stock price to fall by more than 3%.

Fourth quarter results summary:

In the fiscal quarter ended December 31, AMD's net profit was $ 170 million and earnings per share were $ 0.15, which is better than the same period last year. In the fourth quarter of fiscal 2018, AMD's net profit was $ 38 million and earnings per share were $ 0.04. Excluding certain one-off items (not in accordance with US GAAP), AMD ’s adjusted net profit for the fourth quarter was $ 383 million, compared with adjusted net profit for the same period last year of $ 87 million; Share earnings were $ 0.32, compared with adjusted earnings per share of $ 0.08 for the same period last year, a performance that slightly exceeded analysts' expectations. According to data provided by Yahoo Finance Channel, 31 analysts had previously expected AMD's fourth-quarter earnings per share to reach $ 0.31.

AMD's fourth-quarter revenue was US $ 2.13 billion, an increase of 50% from US $ 1.42 billion in the same period last year, and an increase of 18% from US $ 1.80 billion in the previous quarter. This performance also exceeded analyst expectations. According to data provided by the Yahoo Finance Channel, 31 analysts on average expected AMD's fourth-quarter revenue to reach $ 2.11 billion.

By business unit, AMD ’s revenue from the computing and graphics division in the fourth quarter was $ 1.662 billion, higher than the $ 986 million in the same period last year and the $ 1.276 billion in the previous quarter; operating profit was $ 360 million, compared to Operating profit for the same period last year was $ 115 million, and operating profit for the previous quarter was $ 179 million. AMD's fourth-quarter revenue from corporate, embedded, and semi-custom services was $ 465 million, higher than the $ 433 million in the same period last year, but lower than the $ 525 million in the previous quarter; operating profit was $ 45 million. This compares to an operating loss of $ 6 million in the same period last year and an operating profit of $ 61 million in the previous quarter. AMD's operating loss from all other businesses in the fourth quarter was $ 57 million, compared to an operating loss of $ 81 million in the same period last year and an operating loss of $ 54 million in the previous quarter.

AMD's fourth-quarter operating profit was $ 348 million, compared with a year-over-year operating profit of $ 28 million and last quarter's operating profit of $ 186 million; excluding certain one-time items (not in accordance with US General Accounting Standards). AMD's adjusted operating profit for the fourth quarter was $ 405 million, compared to $ 109 million for the same period last year and $ 240 million for the previous quarter.

AMD's fourth-quarter operating expenses were US $ 601 million, up from US $ 509 million in the same period last year and US $ 591 million in the previous quarter. Excluding certain one-off items (not in accordance with US GAAP), AMD ’s adjusted operating expenses for the fourth quarter were $ 545 million, higher than the $ 474 million in the same period last year and the $ 539 million in the previous quarter.

AMD's gross profit margin in the fourth quarter was 45%, an increase of 7 percentage points from 38% in the same period last year, and an increase of 2 percentage points from 43% in the previous quarter. Excluding certain one-time items (not in accordance with US GAAP), AMD ’s adjusted gross margin in the fourth quarter was 45%, an increase of 4 percentage points from 41% in the same period last year, and an increase of 43% in the previous quarter.2 Percentage points.

Annual results summary:

AMD's full-year revenue was US $ 6.73 billion, an increase of 4% from US $ 6.48 billion in fiscal year 2018; operating profit was US $ 631 million, compared to operating profit of US $ 451 million in fiscal year 2018; net profit was US $ 341 million In comparison, FY2018's net profit was $ 337 million; EPS was $ 0.30, compared to FY2018's EPS of $ 0.32; gross profit margin was 43%, compared with FY2018's 38 % Increased by 5 percentage points; operating expenses were US $ 230 million, compared to US $ 200 million in fiscal 2018.

Excluding certain one-off items (not in accordance with US GAAP), AMD ’s operating profit for the full year was $ 840 million, compared to operating profit of $ 633 million in fiscal 2018; net profit of $ 756 million, In comparison, FY2018's net profit was $ 514 million; EPS was $ 0.64, compared to FY2018's EPS of $ 0.46; gross profit margin was 43%, compared with 39% in FY2018. Compared with the increase of 4 percentage points; operating expenses were $ 209 million, compared with $ 186 million in fiscal 2018.

Performance Outlook:

AMD estimates that in the first quarter of fiscal 2020, revenue will be approximately US $ 1.8 billion, which will fluctuate by US $ 50 million, an increase of approximately 42% year-on-year, and a decrease of approximately 15% month-on-month. According to data provided by Yahoo Finance Channel, 30 analysts currently expect AMD's first quarter revenue to reach 1.86 billion US dollars.

Stock price change:

On the same day, AMD's stock price rose 1.27 US dollars in regular Nasdaq trading to close at 50.53 US dollars, an increase of 2.58%. In the after-hours trading that ended at 4.31 pm EST on Tuesday (5:31 am Wednesday, Beijing time), AMD's stock price fell by 1.60 US dollars to 48.93 US dollars, a decrease of 3.17%. Over the past 52 weeks, AMD's highest price was $ 52.81 and its lowest price was $ 19.05.