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: Liabilities and Stockholders’ Equity
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Current Ratio since 2005
- Total Asset Turnover since 2005
- Analysis of Debt
- Aggregate Accruals
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Advanced Micro Devices Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-06-27), 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).
Revenue trajectories exhibit a sustained long-term growth pattern, characterized by an initial expansion phase, a period of stagnation between 2022 and early 2023, and a subsequent acceleration. Net revenue increased from 3,445 million US dollars in March 2021 to 11,536 million US dollars by June 2026. A notable plateau occurred between April 2023 and March 2024, where revenue hovered between 5,353 million and 6,168 million US dollars, before entering a high-growth phase starting in mid-2024.
- Gross Profitability and Cost Structure
- Gross profit generally trended upward, though it experienced significant volatility during the 2022-2023 period. Gross profit reached 6,203 million US dollars in June 2026, up from 1,587 million US dollars in March 2021. The cost of sales grew in tandem with revenue, with a sharp increase observed in the final four quarters of the data set, reflecting scaling operational costs. The inclusion of acquisition-related amortization starting in March 2022 introduced a consistent downward pressure on gross margins, with these costs remaining relatively stable between 260 million and 443 million US dollars per quarter.
- Operating Expense Trends
- Research and development (R&D) expenditures demonstrate a consistent and aggressive upward trend, increasing from 610 million US dollars in March 2021 to 2,528 million US dollars in June 2026. This steady investment occurred regardless of fluctuations in net income, suggesting a strategic priority on product development. Similarly, marketing, general, and administrative expenses rose from 315 million US dollars to 1,401 million US dollars over the same period, indicating an expansion of the organizational infrastructure to support increased revenue scale.
- Operational Performance and Net Income
- Operating income exhibited a cyclical pattern, shifting from profitability in 2021 to operational losses in late 2022 and early 2023, with a low of negative 20 million US dollars in July 2023. A strong recovery followed, culminating in an operating income of 1,990 million US dollars by June 2026, despite a brief anomaly in June 2025 where operating income dropped to negative 134 million US dollars. Net income mirrored this volatility, dipping to negative 139 million US dollars in April 2023 before climbing to a peak of 2,297 million US dollars in June 2026.
- Non-Operating Items and Tax Impact
- Other income, net, became a more significant contributor to the bottom line in the latter half of the data set, peaking at 598 million US dollars in June 2026. Interest expenses remained relatively contained, although a slight increase was noted in 2025 and 2026, stabilizing around 37 million US dollars per quarter. Income tax provisions showed significant variance, including a substantial tax benefit of 834 million US dollars in June 2025, which partially offset operational losses during that specific quarter.