Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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- Balance Sheet: Assets
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Operating Profit Margin since 2005
- Return on Equity (ROE) since 2005
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Advanced Micro Devices Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-03-28), 10-K (reporting date: 2025-12-27), 10-Q (reporting date: 2025-09-27), 10-Q (reporting date: 2025-06-28), 10-Q (reporting date: 2025-03-29), 10-K (reporting date: 2024-12-28), 10-Q (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-30), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-24), 10-Q (reporting date: 2022-06-25), 10-Q (reporting date: 2022-03-26), 10-K (reporting date: 2021-12-25), 10-Q (reporting date: 2021-09-25), 10-Q (reporting date: 2021-06-26), 10-Q (reporting date: 2021-03-27).
The financial trajectory over the analyzed period is characterized by significant top-line expansion and a period of operating volatility followed by a strong recovery in profitability. Net revenue grew from 3,445 million US dollars in March 2021 to 10,253 million US dollars by March 2026, representing a substantial long-term growth trend, with particularly accelerated gains observed between December 2023 and December 2025.
- Revenue and Gross Profitability
- Net revenue exhibited a consistent upward trend, though it experienced a plateau between March 2022 and December 2023. Gross profit followed a similar pattern, peaking early in 2022 before contracting and stabilizing through 2023. A significant shift occurred in late 2024 and 2025, where gross profit surged, reaching a peak of 5,577 million US dollars in December 2025, indicating improved pricing power or cost efficiencies during this window.
- Operating Expense Trends
- Operating expenses showed a steady and aggressive increase. Research and development expenses rose from 610 million US dollars in March 2021 to 2,397 million US dollars by March 2026, reflecting a sustained commitment to product innovation. Similarly, marketing, general, and administrative expenses increased from 315 million US dollars to 1,253 million US dollars over the same period. The amortization of acquisition-related intangibles became a persistent drag on operating results starting in March 2022.
- Operating Income and Volatility
- Operating income demonstrated significant fluctuations. After a period of growth in 2021, operating income turned negative between September 2022 and July 2023, reaching a low of -20 million US dollars. This downturn suggests a period where operating expenses and cost of sales outpaced revenue growth. However, a robust recovery began in late 2023, with operating income climbing to a peak of 1,752 million US dollars in December 2025 before settling at 1,476 million US dollars in March 2026.
- Net Income and Bottom-Line Performance
- Net income mirrored the volatility of operating results, with a notable dip into negative territory in April 2023 (-139 million US dollars). The latter half of the period showed a strong upward trajectory, with net income reaching 1,511 million US dollars in December 2025. This recovery was supported by fluctuations in income tax provisions and a modest contribution from equity income in investees, as well as temporary impacts from discontinued operations in 2025.
Overall, the data indicates a transition from a phase of rapid scaling and high investment, which temporarily pressured margins and operating income, to a phase of higher revenue realization and restored profitability by 2025 and 2026.