Advanced Micro Devices (AMD) just reported its preliminary financial results for the quarter that ended Sept. 30, based upon which we provide a unique corporate earnings release based analysis of its performance. Our analysis focuses on the company's performance for the same quarterly period on a year-on-year basis (unless stated otherwise).
This earnings release follows the earnings announcements from the following peers of Advanced Micro Devices: Intel (INTC) and Cypress Semiconductor (CY).
Summary numbers: Revenues of $1.429 billion, Net Earnings of $17 million and EPS of $0.02. Performance focus more on top-line than bottom-line: same period year-on-year change of revenue of -2.19% vs. change in earnings of -64.58%.
Gross margins now 37.79% from 39.22% compared to the same period last year, EBITDA margins now 7.84% from 8.97%
Ability to declare a higher earnings number? Year-on-year change in Operating Cash Flow of -14.29% better than change in earnings.
Earnings decline from operating margin decreases as well as from unusual items