1、AMDFINANCIALRESULTSFourth Quarter and Full Year 2023January 30,2024Q4 AND FULL YEAR 2023 FINANCIAL RESULTS JANUARY 30,202422CAUTIONARY STATEMENTThis presentation contains forward-looking statements concerning Advanced Micro Devices,Inc.(AMD),such as the features,functionality,performance,availabilit

2、y,timing and expected benefits of AMD products;AMDbeing uniquely positioned in AI;AMDs expected first quarter 2024 financial outlook,including revenue,non-GAAP gross margin,non-GAAP operating expenses,non-GAAP tax rate and diluted share count;expectedAMD Instinct GPU demand and 2024 product ramp in

3、the AI market;AMDs large and compelling TAM;AMDs ability to expand Data Center and AI leadership;and AMDs ability to drive long-term shareholderreturns,which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995.Forward-looking statements are commonl

4、y 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 presentation are based on current beliefs,assumptions and expectations,speak only as of the date of this presentati

5、on and involve risks and uncertainties that could cause actual results to differ materially from current expectations.Such statements are subject to certain known and unknownrisks and uncertainties,many of which are difficult to predict and generally beyond AMDs control,that could cause actual resul

6、ts and other future events to differ materially from those expressed in,or implied orprojected 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:Intel Corporations

7、dominance of the microprocessor market and its aggressive business practices;economic uncertainty;cyclical nature of the semiconductor industry;market conditions of the industries in which AMD products are sold;loss of a significant customer;impact of the COVID-19 pandemic on AMDs business,financial

8、 condition and results of operations;competitive markets in which AMDs products are sold;quarterly and seasonal salespatterns;AMDs ability to adequately protect its technology or other intellectual property;unfavorable currency exchange rate fluctuations;ability of third party manufacturers to manuf

9、acture AMDs products on a timelybasis in sufficient quantities and using competitive technologies;availability of essential equipment,materials,substrates or manufacturing processes;ability to achieve expected manufacturing yields for AMDsproducts;AMDs ability to introduce products on a timely basis

10、 with expected features and performance levels;AMDs ability to generate revenue from its semi-custom SoC products;potential security vulnerabilities;potential security incidents including IT outages,data loss,data breaches and cyber-attacks;potential difficulties in operating AMDs newly upgraded ent

11、erprise resource planning system;uncertainties involving theordering and shipment of AMDs products;AMDs reliance on third-party intellectual property to design and introduce new products in a timely manner;AMDs reliance on third-party companies for design,manufactureand supply of motherboards,softwa

12、re,memory and other computer platform components;AMDs reliance on Microsoft and other software vendors support to design and develop software to run on AMDs products;AMDs reliance on third-party distributors and add-in-board partners;impact of modification or interruption of AMDs internal business p

13、rocesses and information systems;compatibility of AMDs products with some or allindustry-standard software and hardware;costs related to defective products;efficiency of AMDs supply chain;AMDs ability to rely on third party supply-chain logistics functions;AMDs ability to effectively control salesof

14、 its products on the gray market;impact of government actions and regulations such as export regulations,tariffs and trade protection measures;AMDs ability to realize its deferred tax assets;potential taxliabilities;current and future claims and litigation;impact of environmental laws,conflict miner

15、als-related provisions and other laws or regulations;impact of acquisitions,joint ventures and/or investments on AMDsbusiness and AMDs ability to integrate acquired businesses;impact of any impairment of the combined companys assets;restrictions imposed by agreements governing AMDs notes,the guarant

16、ees of Xilinxs notesand the revolving credit facility;AMDs indebtedness;AMDs ability to generate sufficient cash to meet its working capital requirements or generate sufficient revenue and operating cash flow to make all of its plannedR&D or strategic investments;political,legal and economic risks a

17、nd natural disasters;future impairments of technology license purchases;AMDs ability to attract and retain qualified personnel;and AMDs stock pricevolatility.Investors are urged to review in detail the risks and uncertainties in AMDs Securities and Exchange Commission filings,including but not limit

18、ed to AMDs most recent reports on Forms 10-K and 10-Q.NON-GAAP FINANCIAL MEASURESIn this presentation,in addition to GAAP financial results,AMD has provided non-GAAP financial measures including non-GAAP gross profit,non-GAAP operating expenses,non-GAAP operating income,non-GAAPnet income and non-GA

19、AP 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 fiscalyear 2023,AMD used a non-GAAP tax rate of 13%,which excludes the tax impact of pre-tax non-GAAP adjustments.AMD is

20、 providing these financial measures because it believes this non-GAAP presentation makesit easier for investors to compare its operating results for current and historical periods and also because AMD believes it assists investors in comparing AMDs performance across reporting periods on a consisten

21、tbasis by excluding items that it does not believe are indicative of its core operating performance.The non-GAAP financial measures disclosed in this presentation should be viewed in addition to and not as a substitutefor or superior to AMDs reported results prepared in accordance with GAAP and shou

22、ld be read only in conjunction with AMDs Consolidated Financial Statements prepared in accordance with GAAP.These non-GAAPfinancial measures referenced are reconciled to their most directly comparable GAAP financial measures in the Appendices at the end of this presentation.This presentation also co

23、ntains forward-looking non-GAAPmeasures concerning AMDs financial outlook such as gross margin and operating expenses.These forward-looking non-GAAP measures are based on current expectations as of January 30,2024,and assumptionsand beliefs that involve numerous risks and uncertainties.AMD undertake

24、s no intent or obligation to publicly update or revise its forward-looking statements made in this presentation except as may be required by law.Q4 AND FULL YEAR 2023 FINANCIAL RESULTS JANUARY 30,202433Expanding Customer&Partner EcosystemData Center and AI GrowthStrong Financial FoundationLeadership

25、Product PortfolioOUR JOURNEYQ4 AND FULL YEAR 2023 FINANCIAL RESULTS JANUARY 30,202444OUR LEADERSHIP TECHNOLOGYSoftware EnablementOpen-source software optimized for performance across heterogenous solutionsData Center LeadershipDelivering innovation in AI,cloud,enterprise and accelerated computingAdv

26、anced TechnologyDriving leadership process technology and 3D chiplet packagingBroad IP PortfolioExecuting leadership CPU,GPU,DPU,FPGA,Adaptive SoC and AI productsQ4 AND FULL YEAR 2023 FINANCIAL RESULTS JANUARY 30,202455OUR LEADERSHIP PRODUCTSEmbeddedLeadership FPGAs,Adaptive SoCs and SoMs,and embedd

27、ed CPUs and GPUs for a broad set of marketsGamingTop-to-bottom desktop and notebook GPUs,game console and semi-custom SoCsClientPowerful and efficient CPUs and APUs for notebook and desktop PCs and commercial workstationsData CenterBroad portfolio of data center and AI solutions with server CPUs,GPU

28、s,FPGAs,DPUs and Adaptive SoCs AMD IS UNIQUELY POSITIONED IN AIADVANCING END-TO-END AI INFRASTRUCTURE6 AMD Instinct MI300X AcceleratorsLeadership accelerator for generative AI,LLMs and inferencingAMD Instinct MI300 Accelerators4th Gen AMD EPYC ProcessorsBroad ecosystem of OEM and solution partnersCl

29、oudEnterpriseEmbeddedVersal AI EdgeZynq MPSoCAdaptive SoC+AI for EmbeddedEmbeddedAMD Instinct MI300A AcceleratorsWorlds first data center APU for HPC and AIHPCAMD Ryzen 8040 Mobile Processors with Ryzen AITechnology leadership with upgraded on-die AI neural processing unit(NPU)PCQ4 AND FULL YEAR 202

30、3 FINANCIAL RESULTS JANUARY 30,2024Q4 AND FULL YEAR 2023 FINANCIAL RESULTS JANUARY 30,2024AI Software Ecosystem and InnovatorsROCm 6Open Software Ecosystem for AI and HPCBroad AI Solutions EcosystemMI300XAMD InstinctIn VolumeProductionPowering LLNLEl CapitanMI300AAMD InstinctIn Volume ProductionLEAD

31、ERSHIP DATA CENTER ACCELERATORS7 Q4 AND FULL YEAR 2023 FINANCIAL RESULTS JANUARY 30,20248REVENUE FY 2023 Revenue of$22.7 billion decreased 4%y/y Growth in Embedded and Data Center segment revenue was more than offset by lower Client and Gaming segment revenue$23.6B$22.7BFY 2022FY 2023Q4 AND FULL YEA

32、R 2023 FINANCIAL RESULTS JANUARY 30,20249REVENUE Q4 2023 Revenue of$6.2 billion increased 10%y/y Growth in Data Center and Client segment revenue was partially offset by lower Embedded and Gaming segment revenue$5.6B$6.2BQ4 2022Q4 2023Q4 AND FULL YEAR 2023 FINANCIAL RESULTS JANUARY 30,202410GROSS MA

33、RGIN FY 20231.See Appendices for GAAP to Non-GAAP reconciliation Non-GAAP gross margin decrease primarily due to lower Client segment revenue and product mix,partially offset by higher Embedded segment revenueNon-GAAP145%46%FY 2022FY 2023GAAPGAAP gross margin increase primarily driven by higher Embe

34、dded segment revenue,lower amortization of acquisition-related intangible assets,partially offset by lower Client segment revenue and product mix52%50%FY 2022FY 2023Q4 AND FULL YEAR 2023 FINANCIAL RESULTS JANUARY 30,202411GROSS MARGIN Q4 20231.See Appendices for GAAP to Non-GAAP reconciliation Non-G

35、AAP gross margin flat with higher revenue contribution from Data Center and Client segments offset by lower Embedded segment revenueNon-GAAP143%47%Q4 2022Q4 2023GAAPGAAP gross margin increase driven by higher revenue contribution from Data Center and Client segment revenue,lower amortization of acqu

36、isition-related intangible assets,partially offset by lower Embedded segment revenue51%51%Q4 2022Q4 2023Q4 AND FULL YEAR 2023 FINANCIAL RESULTS JANUARY 30,202412FY 2022FY 2023$1.3B$0.4BOPERATING INCOME FY 20231.See Appendices for GAAP to Non-GAAP reconciliation GAAPNon-GAAP1$6.3B$4.9BFY 2022FY 2023G

37、AAP operating income decreased y/y primarily due to lower Client segment performance,increased R&D investments,partially offset by lower amortization of acquisition-related intangible assetsNon-GAAP operating income decreased primarily due to lower Client segment performance and increased R&D invest

38、mentsQ4 AND FULL YEAR 2023 FINANCIAL RESULTS JANUARY 30,202413Q4 2022Q4 2023$(0.1)B$0.3BOPERATING INCOME(LOSS)Q4 20231.See Appendices for GAAP to Non-GAAP reconciliation GAAPNon-GAAP1$1.3B$1.4BQ4 2022Q4 2023GAAP operating income driven by higher Data Center and Client segment revenue and lower amort

39、ization of acquisition-related intangible assets,partially offset by increased R&D and marketing investmentsNon-GAAP operating income up y/y with higher Data Center and Client segment revenue,partially offset by increased R&D and marketing investmentsQ4 AND FULL YEAR 2023 FINANCIAL RESULTS JANUARY 3

40、0,202414$3.50$2.65FY 2022FY 2023EARNINGS PER SHARE1FY 20231.Earnings Per Share(EPS)=Diluted earnings per share;see Appendices for GAAP to Non-GAAP reconciliation GAAPNon-GAAPGAAP net income of$854 million,down 35%y/yGAAP EPS of$0.53,down 37%y/y,primarily due to lower Client segment performance,incre

41、ased R&D investments,partially offset by lower amortization of acquisition-related intangible assets$0.84$0.53FY 2022FY 2023Non-GAAP net income of$4.3 billion,down 22%y/yNon-GAAP EPS of$2.65,down 24%y/y,primarily due to lower Client segment performance and increased R&D investmentsQ4 AND FULL YEAR 2

42、023 FINANCIAL RESULTS JANUARY 30,202415$0.69$0.77Q4 2022Q4 2023EARNINGS PER SHARE1Q4 20231.Earnings Per Share(EPS)=Diluted earnings per share;see Appendices for GAAP to Non-GAAP reconciliation GAAPNon-GAAPGAAP net income of$667 millionGAAP EPS of$0.41 driven by higher Data Center and Client segment

43、revenue and lower amortization of acquisition-related intangible assets,partially offset by increased R&D and marketing investments$0.01$0.41Q4 2022Q4 2023Non-GAAP net income of$1.2 billion,up 12%y/yNon-GAAP EPS of$0.77,up 12%y/y,primarily driven by higher Data Center and Client segment revenue,part

44、ially offset by increased R&D and marketing investmentsQ4 AND FULL YEAR 2023 FINANCIAL RESULTS JANUARY 30,202416($in millions,except per share data)20232022Y/YRevenue$22,680$23,601Down 4%Gross Profit$10,460$10,603Down 1%Gross Margin46%45%Up 1 pptOperating Expenses$10,093$9,441Up 7%Operating Expense/

45、Revenue%45%40%Up 5 pptsOperating Income$401$1,264Down 68%Operating Margin2%5%Down 3 pptsNet Income$854$1,320Down 35%Earnings Per Share1$0.53$0.84Down 37%FY 2023 SUMMARY P&L|GAAP1.Earnings Per Share(EPS)=Diluted earnings per share;see Appendices for GAAP to Non-GAAP reconciliation Q4 AND FULL YEAR 20

46、23 FINANCIAL RESULTS JANUARY 30,202417($in millions,except per share data)20232022Y/YRevenue$22,680$23,601Down 4%Gross Profit$11,436$12,273Down 7%Gross Margin50%52%Down 2 pptsOperating Expenses$6,616$6,030 Up 10%Operating Expense/Revenue%29%26%Up 3 pptsOperating Income$4,854$6,345Down 23%Operating M

47、argin21%27%Down 6 pptsNet Income$4,302$5,504Down 22%Earnings Per Share1$2.65$3.50Down 24%FY 2023 SUMMARY P&L|NON-GAAP11.Earnings Per Share(EPS)=Diluted earnings per share;see Appendices for GAAP to Non-GAAP reconciliation Q4 AND FULL YEAR 2023 FINANCIAL RESULTS JANUARY 30,202418($in millions,except

48、per share data)Q423Q422Y/YQ323Q/QRevenue$6,168$5,599 Up 10%$5,800 Up 6%Gross Profit$2,911$2,403 Up 21%$2,747 Up 6%Gross Margin47%43%Up 4 ppts47%FlatOperating Expenses$2,575$2,557Flat$2,533 Up 2%Operating Expense/Revenue%42%46%Down 4 ppts44%Down 2 pptsOperating Income(Loss)$342$(149)Up 330%$224 Up 53

49、%Operating Margin6%(3)%Up 9 ppts4%Up 2 pptsNet Income$667$21 Up 3,076%$299 Up 123%Earnings Per Share1$0.41$0.01 Up 4,000%$0.18 Up 128%Q4 2023 SUMMARY P&L|GAAP1.Earnings Per Share(EPS)=Diluted earnings per share;see Appendices for GAAP to Non-GAAP reconciliation Q4 AND FULL YEAR 2023 FINANCIAL RESULT

50、S JANUARY 30,202419($in millions,except per share data)Q423Q422Y/YQ323Q/QRevenue$6,168$5,599Up 10%$5,800 Up 6%Gross Profit$3,133$2,859 Up 10%$2,963 Up 6%Gross Margin51%51%Flat51%FlatOperating Expenses$1,727$1,602 Up 8%$1,697 Up 2%Operating Expense/Revenue%28%29%Down 1 ppt29%Down 1 pptOperating Incom

51、e$1,412$1,262Up 12%$1,276 Up 11%Operating Margin23%23%Flat22%Up 1 pptNet Income$1,249$1,113Up 12%$1,135 Up 10%Earnings Per Share1$0.77$0.69Up 12%$0.70 Up 10%Q4 2023 SUMMARY P&L|NON-GAAP11.Earnings Per Share(EPS)=Diluted earnings per share;see Appendices for GAAP to Non-GAAP reconciliation Q4 AND FUL

52、L YEAR 2023 FINANCIAL RESULTS JANUARY 30,202420$5.6$5.4$5.4$5.8$6.2 Q422Q123Q223Q323Q423REVENUE($in Billions)Q4 AND FULL YEAR 2023 FINANCIAL RESULTS JANUARY 30,20242143%44%46%47%47%Q422Q123Q223Q323Q423GROSS MARGIN(GAAP)Q4 AND FULL YEAR 2023 FINANCIAL RESULTS JANUARY 30,20242251%50%50%51%51%Q422Q123Q

53、223Q323Q423GROSS MARGIN(Non-GAAP)11.See Appendices for GAAP to Non-GAAP reconciliation.Q4 AND FULL YEAR 2023 FINANCIAL RESULTS JANUARY 30,202423$0.01$(0.09)$0.02$0.18$0.41 Q422Q123Q223Q323Q423EARNINGS(LOSS)PER SHARE1(GAAP)1.Earnings Per Share(EPS)=Diluted earnings per share except for Q123 for which

54、 basic shares were usedQ4 AND FULL YEAR 2023 FINANCIAL RESULTS JANUARY 30,202424$0.69$0.60$0.58$0.70$0.77 Q422Q123Q223Q323Q423EARNINGS PER SHARE(Non-GAAP)11.See Appendices for GAAP to Non-GAAP reconciliation;Earnings Per Share(EPS)=Diluted earnings per shareQ4 AND FULL YEAR 2023 FINANCIAL RESULTS JA

55、NUARY 30,202425Q4 2023 SUMMARY BALANCE SHEET ITEMS($in millions)Q423Q323Q/QCash,Cash Equivalents and Short-term Investments$5,773$5,785FlatAccounts Receivable,Net$5,376$5,054 Up 6%Inventories$4,351$4,445 Down 2%Total Debt$2,468$2,467FlatQ4 AND FULL YEAR 2023 FINANCIAL RESULTS JANUARY 30,202426FY 202

56、3 SEGMENT RESULTS($in millions)20232022Y/YData CenterNet Revenue$6,496$6,043Up 7%Operating Income$1,267$1,848Down 31%ClientNet Revenue$4,651$6,201Down 25%Operating Income(Loss)($46)$1,190Down 104%GamingNet Revenue$6,212$6,805Down 9%Operating Income$971$953Up 2%EmbeddedNet Revenue$5,321$4,552Up 17%Op

57、erating Income$2,628$2,252Up 17%Q4 AND FULL YEAR 2023 FINANCIAL RESULTS JANUARY 30,202427Q4 2023 SEGMENT RESULTS($in millions)Q423Q422Y/YQ323Q/QData CenterNet Revenue$2,282$1,655Up 38%$1,598 Up 43%Operating Income$666$444Up 50%$306 Up 118%ClientNet Revenue$1,461$903Up 62%$1,453 FlatOperating Income(

58、Loss)$55($152)Up 136%$140 Down 61%GamingNet Revenue$1,368$1,644Down 17%$1,506 Down 9%Operating Income$224$266Down 16%$208 Up 8%EmbeddedNet Revenue$1,057$1,397Down 24%$1,243 Down 15%Operating Income$461$699Down 34%$612 Down 25%Q4 AND FULL YEAR 2023 FINANCIAL RESULTS JANUARY 30,202428DATA CENTER SEGME

59、NT Q4 2023 Announced availability of AMD Instinct MI300X GPU with leadership generative AI performance and AMD Instinct MI300A APU for HPC Microsoft,Meta,Oracle,and other cloud providers announced MI300X deployments;Dell Technologies,HPE,Lenovo,Supermicro and others announced new AMD Instinct MI300

60、enterprise and HPC platforms Unveiled open-source ROCmTM 6 software stack optimized for generative AI Over 800 AMD EPYC CPU-based public cloud instances now available AMD processors power 140 supercomputers in Top500 supercomputer list,and 8 of top 10 in Green500 list of most energy-efficient superc

61、omputersStrategic Highlights$1.7B$2.3BQ4 2022Q4 202327%29%Q4 2022Q4 2023RevenueOperating MarginRevenue$2.3 BillionUp 38%y/yOperating Income$666 Millionvs.$444 Million a year agoPrimarily due to operating leverage driven by higher revenueStrong growth in both AMD Instinct GPUs and 4th Gen AMD EPYC CP

62、U salesQ4 AND FULL YEAR 2023 FINANCIAL RESULTS JANUARY 30,202429CLIENT SEGMENT Q4 2023 Announced Ryzen 8040 Series mobile processors with an AI NPU delivering up to 60%more AI performance than Ryzen 7040 Millions of Ryzen AI-enabled PCs have shipped from all the leading PC OEMs with Ryzen CPUs now p

63、owering more than 90%of AI-enabled PCs currently in market Launched AMD Ryzen 8000G CPUs,the worlds first desktop PC processors with a dedicated AI NPU Announced next generation“Strix”processors with second generation XDNA NPU expected to deliver 3x more AI performance than Ryzen 7040 series process

64、orsStrategic Highlights$0.9B$1.5BQ4 2022Q4 2023(17)%4%Q4 2022Q4 2023RevenueOperating MarginRevenue$1.5 BillionUp 62%y/yPrimarily driven by increase in AMD Ryzen 7000 Series CPU salesOperating Income$55 Millionvs.$152 Million Loss a year agoPrimarily driven by higher revenueQ4 AND FULL YEAR 2023 FINA

65、NCIAL RESULTS JANUARY 30,20243016%16%Q4 2022Q4 2023GAMING SEGMENT Q4 2023 Introduced Radeon RX 7600 XT GPU,a high-performance graphics card for immersive 1080P gaming experiences Launched new open source FidelityFX Super Resolution 3 software that delivers significantly higher gaming frame rates on

66、virtually all modern GPUs and APUsStrategic Highlights$1.6B$1.4BQ4 2022Q4 2023RevenueOperating MarginRevenue$1.4 BillionDown 17%y/yOperating Income$224 Millionvs.$266 Million a year agoPrimarily due to lower revenueLower semi-custom revenue,partially offset by increased Radeon GPU salesQ4 AND FULL Y

67、EAR 2023 FINANCIAL RESULTS JANUARY 30,202431EMBEDDED SEGMENT Q4 2023 Launched Versal Prime Adaptive SoCs with industry-first support for DDR5 memory and increased DSP capability compared to prior generation Launched new Versal SoC solutions bringing industry-leading AI compute capabilities and advan

68、ced safety and security features to next generation vehicles Launched Ryzen embedded processors for industrial automation,machine vision,robotics and edge server applications Strategic Highlights$1.1BQ4 2022Q4 202350%44%Q4 2022Q4 2023RevenueOperating MarginRevenue$1.1 BillionDown 24%y/yPrimarily due

69、 to customers reducing their inventory levelsOperating Income$461 Millionvs.$699 Million a year ago$1.4BPrimarily due to lower revenueQ4 AND FULL YEAR 2023 FINANCIAL RESULTS JANUARY 30,202432($in millions)Q124Revenue$5.4 Billion,+/-$300 Million Gross Margin52%Operating Expenses$1.73 BillionEffective

70、 Tax Rate13%of pre-tax incomeDiluted Share Count1.63 Billion sharesFINANCIAL OUTLOOK NON-GAAP11.1.See Cautionary Statement on Slide 2.These forward-looking outlook statements and non-GAAP measures are based on current expectations as of January 30,2024,and assumptions and beliefs that involve numero

71、us risks and uncertainties.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.All items,except revenue,are on a non-GAAP basis.Adjustments to arrive at the GAAP financia

72、l outlook typically include stock-based compensation,amortization of acquired intangible assets,income tax provision,and other non-recurring items such as impairment charges and acquisition-related costs.The timing and impact of such adjustments are dependent on future events that are typically unce

73、rtain or outside of AMDs control,therefore,a reconciliation to equivalent GAAP measures is not practicable at this time.2.2.Refer to Diluted Share Count overview in the Appendices Q4 AND FULL YEAR 2023 FINANCIAL RESULTS JANUARY 30,20243333Data Center Segment Revenue Up 7%y/y,Embedded Up 17%y/yGross

74、Margin 46%Non-GAAP Gross Margin 50%EPS$0.53Non-GAAP EPS$2.65Revenue$22.7BDown 4%y/yFY 2023 SUMMARY1RECORD 2023 DATA CENTER AND EMBEDDED SEGMENT REVENUE1.See Appendices for GAAP to Non-GAAP reconciliation;Earnings Per Share(EPS)=Diluted earnings per shareQ4 AND FULL YEAR 2023 FINANCIAL RESULTS JANUAR

75、Y 30,20243434Data Center Segment Revenue$2.3B Up 38%y/y Gross Margin 47%Non-GAAP Gross Margin 51%EPS$0.41Non-GAAP EPS$0.77Revenue$6.2BUp 10%y/yQ4 2023 SUMMARY1LAUNCHED AMD INSTINCT GPUS POSITIONED FOR STRONG 2024 RAMP IN THE AI MARKET1.See Appendices for GAAP to Non-GAAP reconciliation;Earnings Per

76、Share(EPS)=Diluted earnings per shareQ4 AND FULL YEAR 2023 FINANCIAL RESULTS JANUARY 30,20243535AMD COMMITMENT TO ESGGovernanceIntegrating corporate responsibility and governance across product design,supply chain,operations and external engagementSocialFostering a culture of diversity,belonging and

77、 inclusion,partnering with suppliers and positively impacting our communitiesEnvironmentalAdvancing environmental solutions in our products,supply chain and operations,while accelerating energy efficiency for IT usersTOGETHER WE ADVANCE_CORPORATE RESPONSIBILITYQ4 AND FULL YEAR 2023 FINANCIAL RESULTS

78、 JANUARY 30,20243636Large and CompellingTAMWorld-ClassExecution and FocusTechnologyLeadershipExpandingData Center and AI LeadershipStrong Balance SheetOUR MOMENTUMDRIVING LONG-TERM SHAREHOLDER RETURNSQ4 AND FULL YEAR 2023 FINANCIAL RESULTS JANUARY 30,202437RECONCILIATION OF GAAP TO NON-GAAP GROSS PR

79、OFIT AND GROSS MARGIN(Millions)(Unaudited)Q422Q123Q223Q323Q42320232022GAAP gross profit$2,403$2,359$2,443$2,747$2,911$10,460$10,603GAAP gross margin43%44%46%47%47%46%45%Stock-based compensation9810663029Amortization of acquisition-related intangibles44330521,448Acquisition-related and oth

80、er costs(1)43-14193Non-GAAP gross profit$2,859$2,675$2,665$2,963$3,133$11,436$12,273Non-GAAP gross margin51%50%50%51%51%50%52%RECONCILIATION OF GAAP TO NON-GAAP OPERATING EXPENSES(Millions)(Unaudited)Q423Q422Q32320232022GAAP operating expenses$2,575$2,557$2,533$10,093$9,441 GAAP operating expenses/r

81、evenue%42%46%44%45%40%Stock-based compensation368 301 347 1,350 983 Amortization of acquisition-related intangibles420 601450 1,869 2,100 Acquisition-related and other costs(1)60 53 39 258 328 Non-GAAP operating expenses$1,727$1,602$1,697$6,616$6,030 Non-GAAP operating expenses/revenue%28%29%29%29%2

82、6%APPENDICES(1)Acquisition-related and other costs primarily comprised of transaction costs,purchase price adjustments for inventory,certain compensation charges,contract termination and workforce rebalancing charges.Q4 AND FULL YEAR 2023 FINANCIAL RESULTS JANUARY 30,202438APPENDICESRECONCILIATION O

83、F GAAP OPERATING INCOME(LOSS)TO NON-GAAP OPERATING INCOME(Millions)(Unaudited)Q423Q422Q32320232022GAAP operating income(loss)$342$(149)$224$401$1,264GAAP operating margin6%(3%)4%2%5%Stock-based compensation374 310 353 1,380 1,012 Amortization of acquisition-related intangibles6351,0446602,8113,548Ac

84、quisition-related and other costs(1)61 57 39 262 521 Non-GAAP operating income$1,412$1,262$1,276$4,854$6,345 Non-GAAP operating margin23%23%22%21%27%(1)Acquisition-related and other costs primarily comprised of transaction costs,purchase price adjustments for inventory,certain compensation charges,c

85、ontract termination and workforce rebalancing charges.Q4 AND FULL YEAR 2023 FINANCIAL RESULTS JANUARY 30,202439RECONCILIATION OF GAAP TO NON-GAAP NET INCOME(LOSS)/EARNINGS(LOSS)PER SHARE(2)(1)Acquisition-related and other costs primarily comprised of transaction costs,purchase price adjustments for

86、inventory,certain compensation charges,contract termination and workforce rebalancing charges.(2)Earnings Per Share(EPS)=Diluted earnings per share except for Q123 for which basic shares were used.APPENDICES(Millions,except per share data)(Unaudited)Q422Q123Q223Q323Q42320232022GAAP net income(loss)/

87、earnings(loss)per share(2)$21$0.01$(139)$(0.09)$27$0.02$299$0.18$667$0.41$854$0.53$1,320$0.84(Gains)losses on equity investments,net5 (1)3 (4)1 (1)62 0.04 Stock-based compensation3100.19 3050.19 3480.21 3530.22 3740.23 1,3800.85 1,0120.64 Equity income in investee(3)(1)(6)(3)(6)(16)(0.01)(14)(0.01)A

88、mortization of acquisition-related intangibles1,0440.658230.516930.426600.416350.392,8111.733,5482.26Acquisition-related and other costs(1)570.041150.07470.03390.02610.042620.165210.33Income tax provision(321)(0.20)(132)(0.08)(164)(0.10)(209)(0.13)(483)(0.30)(988)(0.61)(945)(0.60)Non-GAAP net income

89、/earnings per share(2)$1,113$0.69$970$0.60$948$0.58$1,135$0.70$1,249$0.77$4,302$2.65$5,504$3.50Shares used in earnings per share calculationShares used in per share calculation(GAAP)1,6181,6111,6271,6291,6281,6251,571Shares used in per share calculation(Non-GAAP)1,6181,6181,6271,6291,6281,6251,571Q4

90、 AND FULL YEAR 2023 FINANCIAL RESULTS JANUARY 30,202440Shares(millions)(1)Q423Q124ActualEstimateBasic shares1,6161,617Dilutive impact from employee equity grants(2)1214Diluted shares1,6281,631APPENDICESSHARE COUNT OVERVIEWThe table above provides actual share count for Q423 and an estimate of share

91、count to use when calculating GAAP and non-GAAP diluted earnings per share for Q124.(1)Share counts are weighted average shares.(2)The dilutive impact of employee equity grants is based on the Treasury Stock method and is dependent upon the average stock price during the period.The Q423 average stock price was$117.86.The Q423 average stock price of$117.86 was assumed for Q124 average stock price estimates.