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.

Advanced Micro Devices Inc., consolidated income statement (quarterly data)

US$ in millions

3 months ended:	Dec 27, 2025	Sep 27, 2025	Jun 28, 2025	Mar 29, 2025	Dec 28, 2024	Sep 28, 2024	Jun 29, 2024	Mar 30, 2024	Dec 30, 2023	Sep 30, 2023	Jul 1, 2023	Apr 1, 2023	Dec 31, 2022	Sep 24, 2022	Jun 25, 2022	Mar 26, 2022	Dec 25, 2021	Sep 25, 2021	Jun 26, 2021	Mar 27, 2021
Net revenue	10,270)	9,246)	7,685)	7,438)	7,658)	6,819)	5,835)	5,473)	6,168)	5,800)	5,359)	5,353)	5,599)	5,565)	6,550)	5,887)	4,826)	4,313)	3,850)	3,445)
Cost of sales	(4,433)	(4,206)	(4,366)	(3,451)	(3,524)	(3,167)	(2,740)	(2,683)	(3,042)	(2,843)	(2,704)	(2,689)	(2,753)	(2,799)	(3,115)	(2,883)	(2,400)	(2,227)	(2,020)	(1,858)
Amortization of acquisition-related intangibles	(260)	(260)	(260)	(251)	(252)	(233)	(231)	(230)	(215)	(210)	(212)	(305)	(443)	(412)	(407)	(186)	—)	—)	—)	—)
Cost of sales	(4,693)	(4,466)	(4,626)	(3,702)	(3,776)	(3,400)	(2,971)	(2,913)	(3,257)	(3,053)	(2,916)	(2,994)	(3,196)	(3,211)	(3,522)	(3,069)	(2,400)	(2,227)	(2,020)	(1,858)
Gross profit	5,577)	4,780)	3,059)	3,736)	3,882)	3,419)	2,864)	2,560)	2,911)	2,747)	2,443)	2,359)	2,403)	2,354)	3,028)	2,818)	2,426)	2,086)	1,830)	1,587)
Research and development	(2,330)	(2,139)	(1,894)	(1,728)	(1,712)	(1,636)	(1,583)	(1,525)	(1,511)	(1,507)	(1,443)	(1,411)	(1,366)	(1,279)	(1,300)	(1,060)	(811)	(765)	(659)	(610)
Marketing, general and administrative	(1,198)	(1,069)	(991)	(886)	(781)	(707)	(640)	(607)	(638)	(566)	(539)	(575)	(585)	(549)	(586)	(514)	(408)	(373)	(340)	(315)
Amortization of acquisition-related intangibles	(297)	(302)	(308)	(316)	(332)	(352)	(372)	(392)	(420)	(450)	(481)	(518)	(601)	(590)	(616)	(293)	—)	—)	—)	—)
Restructuring charges	—)	—)	—)	—)	(186)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Operating income (loss)	1,752)	1,270)	(134)	806)	871)	724)	269)	36)	342)	224)	(20)	(145)	(149)	(64)	526)	951)	1,207)	948)	831)	662)
Interest expense	(36)	(37)	(38)	(20)	(19)	(23)	(25)	(25)	(27)	(26)	(28)	(25)	(19)	(31)	(25)	(13)	(8)	(7)	(10)	(9)
Other income (expense), net	358)	82)	98)	39)	37)	36)	55)	53)	49)	59)	46)	43)	32)	22)	(4)	(42)	4)	62)	—)	(11)
Income (loss) from continuing operations before income taxes and equity income	2,074)	1,315)	(74)	825)	889)	737)	299)	64)	364)	257)	(2)	(127)	(136)	(73)	497)	896)	1,203)	1,003)	821)	642)
Income tax (provision) benefit	(455)	(153)	834)	(123)	(419)	27)	(41)	52)	297)	39)	23)	(13)	154)	135)	(54)	(113)	(229)	(82)	(113)	(89)
Equity income in investee	1)	10)	8)	7)	12)	7)	7)	7)	6)	3)	6)	1)	3)	4)	4)	3)	—)	2)	2)	2)
Income (loss) from continuing operations, net of tax	1,620)	1,172)	768)	709)	482)	771)	265)	123)	667)	299)	27)	(139)	21)	66)	447)	786)	974)	923)	710)	555)
Income from discontinued operations, net of tax	(109)	71)	104)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Net income (loss)	1,511)	1,243)	872)	709)	482)	771)	265)	123)	667)	299)	27)	(139)	21)	66)	447)	786)	974)	923)	710)	555)

The income statement reveals a period of significant fluctuation in financial performance over the analyzed timeframe. Initial growth in revenue is followed by periods of decline and subsequent recovery, with a notable uptrend in the most recent quarters. Cost of sales generally increases alongside revenue, impacting gross profit margins. Operating expenses, particularly research and development and marketing, also demonstrate a consistent upward trend, influencing overall profitability.

Revenue Trends: Net revenue experienced substantial growth from March 2021 to December 2021, increasing from US$3,445 million to US$4,826 million. A decline was then observed in the first half of 2022, followed by a period of relative stagnation. Beginning in late 2023, revenue began a strong upward trajectory, reaching US$10,270 million by December 2025. This suggests a potential shift in market dynamics or successful implementation of growth strategies.
Gross Profit Analysis: Gross profit mirrored the revenue trend, peaking at US$2,426 million in December 2021 before experiencing a dip. While fluctuating, gross profit generally increased from 2023 onwards, culminating in US$5,577 million in December 2025. The gross profit margin, however, shows some compression over time, indicating increasing cost pressures or pricing challenges.
Operating Expense Evolution: Research and development expenses consistently increased throughout the period, rising from US$610 million in March 2021 to US$2,330 million in December 2025. Marketing, general, and administrative expenses also exhibited a similar upward trend, albeit at a slower pace. These escalating expenses contributed to volatility in operating income.
Operating Income Volatility: Operating income demonstrated significant variability. After reaching US$1,207 million in December 2021, it experienced a substantial decline, even resulting in an operating loss of US$64 million in September 2022. A recovery began in late 2023, with operating income reaching US$1,752 million by December 2025. This volatility highlights the sensitivity of profitability to revenue fluctuations and expense management.
Net Income Performance: Net income followed a similar pattern to operating income, with a peak of US$974 million in December 2021 and a subsequent decline. A loss was recorded in March 2023. The final quarters show a strong recovery, with net income reaching US$1,511 million in December 2025. Income from discontinued operations contributed positively to net income in June 2025.
Other Income and Expenses: Other income (expense), net, fluctuated considerably, with notable positive contributions in September 2021, December 2022, and particularly in December 2025. These items appear to have a material impact on overall profitability, especially in the later periods.

In conclusion, the financial performance of the entity has been characterized by periods of strong growth, followed by challenges and a recent resurgence. The increasing investment in research and development, coupled with rising marketing expenses, suggests a focus on future innovation and market expansion. However, maintaining profitability will require careful management of cost of sales and operating expenses, as well as capitalizing on the positive trends in revenue generation.

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Advanced Micro Devices Inc. (NASDAQ:AMD)

Income Statement Quarterly Data

Income Statement
Quarterly Data