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Advanced Micro Devices (AMD) FY2022 results: revenue $23.6 billion, up 43.6% on the year

Advanced Micro Devices Inc. (AMD) reported revenue of $23.6 billion for fiscal 2022, the year ended 31 December 2022, up 43.6% on the year before. Net income was $1.3 billion, down 58.3%, and diluted earnings per share $0.84. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2023.

Revenue
$23.6 billion
+43.6% on the year
FY2015FY2022
Operating margin
5.4%
22.2% a year earlier
FY2015FY2022
Net income
$1.3 billion
-58.3% on the year
FY2015FY2022
Diluted EPS
$0.84
-67.3% on the year
FY2015FY2022

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2022 · Q2 FY2022 · Q3 FY2022 · Q4 FY2022

Income statement (profit and loss)

$ millionFY2022FY2021FY2020On the yearLast 8 years
Revenue23,60116,4349,763+43.6%
Cost of revenue12,9988,5055,416+52.8%
Gross profit10,6037,9294,347+33.7%
Gross margin44.9%48.2%44.5%
Research and development5,0052,8451,983+75.9%
Selling, general and administrative2,3361,448995+61.3%
Operating income1,2643,6481,369-65.4%
Operating margin5.4%22.2%14.0%
Interest expense88.034.047.0+158.8%
Pre-tax income1,1983,6751,280-67.4%
Income tax-122513-1,210
Effective tax rate-10.2%14.0%-94.5%
Net income1,3203,1622,490-58.3%
Net margin5.6%19.2%25.5%
Diluted EPS$0.84$2.57$2.06-67.3%
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionFY2022FY2021FY2020On the yearLast 8 years
Operating cash flow3,5653,5211,071+1.2%
Capital expenditure450301294+49.5%
Free cash flow3,1153,220777-3.3%
Free cash flow margin13.2%19.6%8.0%
Cash from investing1,999686-952+191.4%
Cash from financing-3,2641,8956.0
Share-based compensation1,081379274+185.2%
Buybacks3,7021,7620.0+110.1%
Diluted shares, weighted1,571m1,229m1,207m+27.8%
Shares outstanding at period end1,612m1,207m1,211m+33.6%

Balance sheet

$ millionFY2022FY2021FY2020On the yearLast 8 years
Shareholders' equity54,7507,4975,837+630.3%
Debt2,467313330+688.2%
Operating lease liabilities396348201+13.8%
Other liabilities9,9674,2612,594+133.9%
Total liabilities and equity67,58012,4198,962+444.2%
Fixed assets1,513702641+115.5%
Goodwill24,177289289+8,265.7%
Intangible assets24,1180.0n/a
Investments1,0201,073695-4.9%
Cash and equivalents4,8352,5351,595+90.7%
Receivables4,1262,7062,066+52.5%
Inventory3,7711,9551,399+92.9%
Other assets4,0203,1592,277+27.3%
Total assets67,58012,4198,962+444.2%

10-K for the year ended 31 December 2022, filed 27 February 2023: the filing.