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:	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	Dec 26, 2020	Sep 26, 2020	Jun 27, 2020	Mar 28, 2020
Net revenue	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)	3,244)	2,801)	1,932)	1,786)
Cost of sales	(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)	(1,793)	(1,571)	(1,084)	(968)
Amortization of acquisition-related intangibles	(260)	(251)	(252)	(233)	(231)	(230)	(215)	(210)	(212)	(305)	(443)	(412)	(407)	(186)	—)	—)	—)	—)	—)	—)	—)	—)
Cost of sales	(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)	(1,793)	(1,571)	(1,084)	(968)
Gross profit	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)	1,451)	1,230)	848)	818)
Research and development	(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)	(573)	(508)	(460)	(442)
Marketing, general and administrative	(991)	(886)	(792)	(721)	(650)	(620)	(644)	(576)	(547)	(585)	(590)	(557)	(592)	(597)	(412)	(376)	(341)	(319)	(308)	(273)	(215)	(199)
Amortization of acquisition-related intangibles	(308)	(316)	(332)	(352)	(372)	(392)	(420)	(450)	(481)	(518)	(601)	(590)	(616)	(293)	—)	—)	—)	—)	—)	—)	—)	—)
Restructuring charges	—)	—)	(186)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Licensing gain	—)	—)	11)	14)	10)	13)	6)	10)	8)	10)	5)	8)	6)	83)	4)	3)	1)	4)	—)	—)	—)	—)
Operating income (loss)	(134)	806)	871)	724)	269)	36)	342)	224)	(20)	(145)	(149)	(64)	526)	951)	1,207)	948)	831)	662)	570)	449)	173)	177)
Interest expense	(38)	(20)	(19)	(23)	(25)	(25)	(27)	(26)	(28)	(25)	(19)	(31)	(25)	(13)	(8)	(7)	(10)	(9)	(9)	(11)	(14)	(13)
Other income (expense), net	98)	39)	37)	36)	55)	53)	49)	59)	46)	43)	32)	22)	(4)	(42)	4)	62)	—)	(11)	(15)	(37)	1)	4)
Income (loss) from continuing operations before income taxes and equity income	(74)	825)	889)	737)	299)	64)	364)	257)	(2)	(127)	(136)	(73)	497)	896)	1,203)	1,003)	821)	642)	546)	401)	160)	168)
Income tax (provision) benefit	834)	(123)	(419)	27)	(41)	52)	297)	39)	23)	(13)	154)	135)	(54)	(113)	(229)	(82)	(113)	(89)	1,232)	(12)	(4)	(6)
Equity income in investee	8)	7)	12)	7)	7)	7)	6)	3)	6)	1)	3)	4)	4)	3)	—)	2)	2)	2)	3)	1)	1)	—)
Income (loss) from continuing operations, net of tax	768)	709)	482)	771)	265)	123)	667)	299)	27)	(139)	21)	66)	447)	786)	974)	923)	710)	555)	1,781)	390)	157)	162)
Income from discontinued operations, net of tax	104)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Net income (loss)	872)	709)	482)	771)	265)	123)	667)	299)	27)	(139)	21)	66)	447)	786)	974)	923)	710)	555)	1,781)	390)	157)	162)

The financial data presents a comprehensive view of the company's performance across multiple quarters, highlighting notable trends and shifts in key financial metrics.

Net Revenue: The net revenue shows a generally increasing trajectory from $1.786 billion in March 2020, reaching a peak of $7.658 billion in December 2024, followed by a slight decrease in subsequent quarters. This growth indicates strong sales expansion over the analyzed period.
Cost of Sales: Cost of sales increased consistently alongside revenue, moving from $968 million in March 2020 up to $4.626 billion in June 2025. The inclusion of amortization of acquisition-related intangibles in later periods indicates additional cost recognition. Margins fluctuate but generally reflect the rising cost pressure associated with sales growth.
Gross Profit: Gross profit rose steadily from $818 million in March 2020 to a high of $3.882 billion in March 2025, though some quarters such as December 2022 and December 2025 show declines. This trend aligns with sales growth but also reveals margin variability due to fluctuating cost structures.
Research and Development (R&D): R&D expenses exhibited a consistent upward trend, increasing from $442 million in March 2020 to $1.894 billion in June 2025. This steady rise highlights sustained investment in innovation and product development.
Marketing, General and Administrative (MG&A): MG&A expenses also increased significantly, from $199 million in March 2020 to $991 million in June 2025. The growth suggests escalating operational costs related to marketing and administration as the company expands.
Amortization of Acquisition-Related Intangibles: Amortization expenses related to acquisition intangibles were recorded starting in September 2021, with a gradual decrease from $616 million to $308 million by June 2025, indicating the amortization of acquisition costs over time.
Operating Income (Loss): Operating income improved from $177 million in March 2020, peaking at $1.207 billion in December 2021, before experiencing a decline and volatility in subsequent quarters. Particularly, negative operating income in late 2022 and mid-2025 suggests periods of operational challenges.
Interest Expense: Interest expense remained relatively stable around $20-$30 million per quarter, with a slight increase in the latter periods, reflecting the cost of debt financing.
Other Income (Expense), Net: Other net income fluctuated without a clear trend, with sporadic positive and negative values, indicating variable non-operating income and expense items affecting overall profitability.
Income (Loss) From Continuing Operations Before Taxes and Equity Income: This metric mirrors the operating income trend, with peaks and troughs corresponding to operational performance, culminating in $825 million in June 2025 before dropping sharply to a loss subsequently.
Income Tax Provision/(Benefit): Income tax effects were irregular, including a significant tax benefit in December 2020 and fluctuating expenses afterward, impacting net income variability.
Income (Loss) From Continuing Operations, Net of Tax: Net income from continuing operations generally grew until mid-2021, with substantial volatility thereafter, including a major spike in December 2020 and declines in late 2022 and early 2023, reflecting the combined effects of operational results and tax variations.
Net Income (Loss): Overall net income followed a similar pattern to continuing operations but included an additional income from discontinued operations in June 2025. The net income peaked dramatically in December 2020 at $1.781 billion, then showed sizable fluctuations, ending with $872 million in June 2025.

In summary, the company experienced robust revenue and gross profit growth over the period, supported by increased investments in research and development as well as marketing and administrative functions. However, operating income showed volatility, influenced by rising costs and amortization charges. The net income was impacted by fluctuating tax provisions and occasional non-operating items, resulting in pronounced quarter-to-quarter variability. Overall, the financial trends suggest strong expansion accompanied by challenges in controlling costs and ensuring consistent profitability.

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Advanced Micro Devices Inc. (NASDAQ:AMD)

Income Statement Quarterly Data

Income Statement
Quarterly Data