Advanced Micro Devices Inc [AMD] reports annual net loss of $854.0 million
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Company Reports Revenue of $22.7 billion
ADVANCED MICRO DEVICES INC [AMD] has reported a net loss of $854.0 million for year ended Dec 30, 2023.
The Company said in a filing before the Securities and Exchange Commission that its total revenue for the year was $22.7 billion
Based in Santa Clara, California, ADVANCED MICRO DEVICES INC operates in the MANUFACTURING sector.
In the fiscal year ending December 30, 2023, the company reported a net revenue of $22.68 million, compared to $23.60 million in the previous year and $16.43 million two years ago. This represents a slight decrease in revenue compared to the previous period.
The cost of sales for the same period stood at $11.28 million, slightly lower than the $11.55 million in the prior year and higher than $8.50 million in the year before that. The total cost of sales, including amortization of acquisition-related intangibles, amounted to $12.22 million in 2023, compared to $13 million in 2022.
Gross profit for the current fiscal year was reported at $10.46 million, slightly lower than the $10.60 million in the previous year and higher than $7.93 million in the year before that.
Operating income for the company in 2023 was $401 million, a significant decrease from the $1.26 billion reported in 2022 and $3.65 billion in 2021. This substantial drop in operating income may warrant further investigation into the company's operational efficiency and performance.
Net income for the fiscal year ending December 30, 2023, was $854 million, a noticeable decrease from the $1.32 billion reported in the previous year and $3.16 billion two years ago. The decline in net income could be a cause for concern for investors and stakeholders.
Earnings per share (EPS) for basic and diluted amounts in 2023 were reported at $0.53 and $0.53, respectively. This is a decrease from the EPS of $0.85 and $0.84 for basic and diluted amounts in 2022. Similarly, the EPS figures for 2021 were $2.61 for basic and $2.57 for diluted amounts. The decrease in EPS further underscores the challenges faced by the company in maintaining profitability per share.
In conclusion, the company's financial performance in the most recent fiscal year shows a decline in revenue, operating income, net income, and earnings per share compared to the previous year, signaling potential challenges that the company may need to address to enhance its financial performance in the future.
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