Post-Earnings Research - Advanced Micro Devices

LONDON, May 5, 2015 /PRNewswire/ --

Editor Note: For more information about this release, please scroll to bottom.

Investor-Edge.com has issued free post-earnings research on Advanced Micro Devices Inc. (NASDAQ: AMD). On April 16, 2015, the company reported its financial results for Q1 FY15 (period ended March 28, 2015). Click on http://get.Investor-Edge.com/pdf/?c=Advanced%20Micro%20Devices&d=05-May-2015&s=AMD to read our free earnings review on Advanced Micro Devices Inc. (AMD). During Q1 FY15, the company's GAAP net revenues was $1.03 billion and its GAAP gross margin was 32%. Our free coverage report can be accessed at:

http://get.Investor-Edge.com/pdf/?c=Advanced%20Micro%20Devices&d=05-May-2015&s=AMD

Earnings Overview 

During Q1 FY15, AMD's GAAP net revenues declined $367 million, or 26%, from $1.40 billion in Q1 FY14. The company's Q1 FY15 GAAP net revenues missed Bloomberg analysts' forecast of $1.05 billion. Furthermore, AMD's GAAP and non-GAAP gross margin fell 3% in Q1 FY15 from 35% in Q1 FY14.

In Q1 FY15, AMD's Computing and Graphics segment's net revenues declined 38% to $532 million from $861 million in Q1 FY14, primarily due to lower desktop processor sales and GPU channel sales. Moreover, Enterprise, Embedded and Semi-Custom segment's net revenues fell 7% to $498 million in Q1 FY15 from $536 million in Q1 FY14, due to lower server processor sales. Free research on AMD can be downloaded in PDF format at:

http://get.Investor-Edge.com/pdf/?c=Advanced%20Micro%20Devices&d=05-May-2015&s=AMD

AMD reported GAAP operating loss of $137 million in Q1 FY15 compared to GAAP operating income of $49 million in Q1 FY14. The company's Non-GAAP operating loss for Q1 FY15 was $30 million compared to non-GAAP operating income of $89 million in Q1 FY14. Moreover, adjusted EBITDA for Q1 FY15 came in at $13 million compared to $139 million in Q1 FY14.

AMD's GAAP net loss widened to $180 million, or $0.23 loss per diluted share in Q1 FY15 from GAAP net loss of $20 million, or $0.03 loss per diluted share in Q1 FY14. For Q1 FY15, analysts from Bloomberg had expected the company to report GAAP net loss of $70 million, or $0.09 loss per diluted share. Additionally, AMD's non-GAAP net loss for Q1 FY15 stood at $73 million, or $0.09 loss per diluted share, compared to non-GAAP net income of $35 million, or $0.05 per diluted share, in Q1 FY14.

For Q1 FY15, AMD's GAAP net cash used in operating activities was $173 million compared to GAAP net cash used in operating activities of $204 million in Q1 FY14. The company's non-GAAP negative free cash flow for Q1 FY15 was $195 million compared to non-GAAP negative free cash flow of $225 million in Q1 FY14. As of March 28, 2015, AMD's cash, cash equivalents and marketable securities were $906 million compared to $982 million as of March 29, 2014. Further, AMD's total debt at the end of the reported quarter stood at $2.27 billion compared to $2.14 billion as of March 29, 2014. Sign up and read the free analyst's notes on AMD at:

http://get.Investor-Edge.com/pdf/?c=Advanced%20Micro%20Devices&d=05-May-2015&s=AMD

President and CEO of AMD, Dr. Lisa Su, stated that building great products, driving deeper customer relationships and simplifying the company's business remain the right long-term steps to strengthen AMD and improve its financial performance. She added that under the backdrop of a challenging PC environment, ADM is focused on improving its near-term financial results and delivering a stronger 2H FY15 based on completing the company's work to rebalance channel inventories and shipping strong new products.

In its outlook for Q2 FY15, AMD expects revenue to decrease 3%, plus or minus 3%, sequentially. Visit Investor-Edge and access the latest research on AMD at:

http://get.Investor-Edge.com/pdf/?c=Advanced%20Micro%20Devices&d=05-May-2015&s=AMD

Stock Performance  

On the day following the earnings release, April 17, 2015, AMD's stock plummeted 10.28% to end the session at $2.58. Since then, the stock has moved both ways, encountering more losses than gains. On the last close, Monday, May 04, 2015, shares of the company finished flat compared to their previous day's close of $2.31. The stock oscillated between $2.30 and $2.36 during the session. A total of 9.66 million shares were traded which was above their three months average volume of 15.18 million shares. The company's shares have advanced 1.32% in the previous three trading sessions. However, the stock has declined 14.13% over the last one month and 18.95% in the past three months. Further, Shares in AMD closed below their 50-day and 200-day moving averages of $2.73 and $3.07, respectively. Additionally, the stock has a Relative Strength Index (RSI) of 35.39.

Sneak Peek to Corporate Insider Trading 

In the last one month, AMD has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on AMD is available at:

http://get.Investor-Edge.com/pdf/?c=Advanced%20Micro%20Devices&d=05-May-2015&s=AMD

About Investor-Edge.com 

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