Stock Monitor: GSI Technology Post Earnings Reporting

LONDON, UK / ACCESSWIRE / May 14, 2018 / If you want access to our free earnings report on Advanced Micro Devices, Inc. (NASDAQ: AMD) ("AMD"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=AMD. Advanced Micro Devices reported its first quarter fiscal 2018 operating and financial results on April 25, 2018. The chipmaker outperformed top- and bottom-line expectations and provided guidance for the upcoming quarter. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Advanced Micro Devices most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:

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Earnings Highlights and Summary

Advanced Micro Devices' first quarter 2018 revenue surged 40% to $1.65 billion, up compared to revenue of $1.18 billion in Q1 2017, driven primarily by was driven by strong demand for the Company's new products, with Ryzen? and Radeon? products growing double-digit percentage on y-o-y basis. AMD's reported numbers topped analysts' estimates of $1.57 billion.

During Q1 2018, AMD's gross margin was 36% compared to 32% in Q1 2017. The gross margin percentage increase was driven by a greater percentage of revenue from Ryzen?, Radeon?, and EPYC? products.

On a GAAP basis, AMD's operating income was $120 million in Q1 2018 compared to operating income of $11 million in Q1 2017. On a non-GAAP basis, the Company's reported quarter operating income was $152 million compared to operating income of $34 million in the prior year's same quarter.

For Q1 2018, AMD's net income was $81 million, or $0.08 per diluted share, compared to net loss of $33 million, or $0.04 per diluted share, in Q1 2017. The Company's reported quarter non-GAAP net income was $121 million, or $0.11 per diluted share, compared to net income of $2 million or break even from the year ago period. AMD's earnings beat Wall Street's estimates of $0.09 per share.

Financial Segment Summary

During Q1 2018, the Computing and Graphics segment revenue soared 95% to $1.12 billion compared to $573 million in Q1 2017, primarily driven by strong sales of Radeon and Ryzen products. The segment's client processor average selling price (ASP) increased y-o-y due to a greater percentage of revenue from its Ryzen products, and GPU ASP increased compared to the year ago same period, driven by a greater percentage of revenue from the new Radeon products. The segment's operating income was $138 million in the reported quarter compared to an operating loss of $21 million in the prior year's corresponding quarter, with the turnaround attributed to higher revenue and improved operating expense leverage.

For Q1 2018, the Enterprise, Embedded, and Semi-Custom (EESC) segment's revenue was $532 million, down 12% compared to revenue of $605 million in Q1 2017, due to lower semi-custom revenue, partially offset by higher server and embedded revenue. EESC segment's reported quarter operating income was $14 million compared to operating income of $55 million in the prior year's sme quarter. The y-o-y drop in operating income was primarily due to a licensing gain that occurred in Q1 2017.

Cash Matters

As of March 31, 2018, AMD's cash and cash equivalents were $1.04 billion, up from $943 million in the year ago corresponding quarter. In the reported quarter, the Company's cash used by operating activities totaled $86 million, while free cash flow was negative $132 million. AMD deployed cash to repurchase $14 million of debt in Q1 2018, as it continues to reduce term debt and interest expense.

Outlook

For the second quarter of 2018, AMD is forecasting revenue to be approximately $1.725 billion, plus or minus $50 million, reflecting an increase of 50% on a y-o-y basis. The Company is expecting non-GAAP gross margin of approximately 37% for the upcoming quarter.

Stock Performance Snapshot

May 11, 2018 - At Friday's closing bell, Advanced Micro Devices' stock fell 1.48%, ending the trading session at $11.95.

Volume traded for the day: 43.83 million shares.

Stock performance in the last month ? up 18.55%; previous three-month period ? up 5.66%; past twelve-month period ? up 7.95%; and year-to-date ? up 16.25%

After last Friday's close, Advanced Micro Devices' market cap was at $11.58 billion.

The stock is part of the Technology sector, categorized under the Semiconductor - Broad Line industry.

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