Advanced Micro Devices said net revenue in 2024 increased 14% to $25.8 billion, compared to $22.7 billion in 2023. Data Center net revenue increased 94% to $12.6 billion, and Client net revenue increased 52% to $7.1 billion. Gaming net revenue decreased 58% to $2.6 billion, and Embedded net revenue decreased 33% to $3.6 billion.

1. 01

   Advanced Micro Devices said net revenue in 2024 increased 14% to $25.8 billion, compared to $22.7 billion in 2023. Data Center net revenue increased 94% to $12.6 billion, and Client net revenue increased 52% to $7.1 billion. Gaming net revenue decreased 58% to $2.6 billion, and Embedded net revenue decreased 33% to $3.6 billion.

2. 02

   Advanced Micro Devices said gross margin for 2024 was 49%, compared to 46% in 2023, operating income was $1.9 billion, compared to $401 million in 2023, and net income was $1.6 billion, compared to $854 million in 2023. The company cited higher Data Center and Client revenues and lower Gaming revenue as factors in the gross margin increase, with lower Embedded revenue partially offsetting these factors.

3. 03

   Advanced Micro Devices said net cash provided by operating activities in 2024 was $3 billion. This reflected net income of $1.6 billion, adjusted for non-cash adjustments of $3.5 billion and net cash outflows of $2.1 billion from changes in operating assets and liabilities. The company cited a $1.9 billion increase in accounts receivable and a $1.5 billion increase in inventories as primary drivers.

4. 04

   On August 17, 2024, the company agreed to acquire ZT Systems. Upon closing, it will pay approximately $3.4 billion in cash and 8,335,852 shares of AMD common stock, and to the extent certain conditions are met, an additional $300 million in cash and up to 740,964 shares of AMD common stock. The acquisition is expected to close in the first half of fiscal 2025, subject to certain regulatory approvals and other customary closing conditions.

Key figures

Fiscal year ended December 28, 2024

Revenue

$25.8B

Operating income

$1.9B

Net income

$1.6B

EPS

$1.00

Gross profit

$12.7B

Operating cash flow

$3.0B

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.