In October 25th, AMD released the company's third quarter earnings in fiscal 2017 today. The report showed that the third quarter revenue of AMD was $1 billion 640 million, higher than the previous year's $1 billion 310 million; net profit was $71 million, compared with a net loss of $406 million over the same period last year.
AMD third quarter earnings and revenue and adjusted fourth quarter revenue outlook exceeded Wall Street analysts on average expected, but because the company forecast fourth quarter revenue will decline because of the after hours stock price fell more than 9%.
In the quarter ended December 30, 9, AMD of the revenue of 16.4 billion dollars, $13.1 billion higher than the same period last year, also higher than the $12.2 billion in the first quarter, the results exceeded analysts had expected. Financial information supplier FactSet survey shows that analysts expect AMD third quarter revenue of $1 billion 510 million on average.
Division by business department:
Cost and expenditure:
AMD in the third quarter of R & D expenditures of $315 million, $259 million higher than the same period last year; marketing, general and administrative expenses were $132 million, $117 million higher than the same period last year; zero for the restructuring and other expenses, compared to the same period last year the same as zero; authorized income is zero, compared with a year earlier authorized return is 24 million dollars.
The cost of AMD in the third quarter sales of $1 billion 70 million, lower than the same period last year to $1 billion 248 million; gross profit was $573 million, higher than the same period last year of $59 million; gross profit margin was 35%, higher than the same period last year 5%.
AMD third quarter net profit of $71 million, earnings per share of 7 cents, the performance better than the same period last year. In the 2016 quarter of fiscal year third, the net loss of AMD was $406 million, a loss of 50 cents per share. Excluding certain one-time items (not in accordance with GAAP), AMD third quarter adjusted net profit of $110 million, adjusted earnings per share of 10 cents, compared with last year's adjusted net profit of $27 million, adjusted earnings per share of 3 cents, the results also exceeded analysts had expected. The FactSet survey showed analysts expected AMD earnings of 8 cents per share in the third quarter on average.
AMD's operating profit was $126 million in the third quarter, compared with $293 million in the same period last year, and $25 million in the last quarter. Excluding certain one-time items (not in accordance with GAAP), AMD third quarter adjusted operating profit of $155 million, compared with the same period last year adjusted operating profit of $70 million, a quarter of the adjusted operating profit of $49 million.
Other financial information:
By the end of the third quarter, the total amount of cash, cash equivalents and marketable securities held by AMD was $879 million, compared to $844 million at the end of the last quarter.
AMD expects that in the fourth quarter of fiscal year 2017, corporate revenues will decline by about 15%, up and down by 3 percentage points, that is, between $1 billion 340 million and $1 billion 440 million, which exceeds analysts' expectations. In addition, the median of this expected range means that the fourth quarter revenue of AMD will increase by about 26% compared with the same period of last year. FactSet survey shows that analysts expect AMD revenue will be $1 billion 340 million in the fourth quarter.
In addition, AMD also forecast revenue growth in 2017 will reach more than 20%, compared to the previous expected range of 10% to 19% range from high to high.
Stock price reaction:
On the same day, AMD shares rose $0.15 in the Nasdaq market, ending at $14.25, or 1.06%. AMD shares fell $1.35 to $12.90, or 9.47%, in the after hours trading at 4:54 p.m. EDT Wednesday (4:54 a.m. Beijing time) on Tuesday. In the past 52 weeks, AMD's highest stock price was $15.65, and the lowest price was $6.22.