Slide 1: AMD Financial Results Second Quarter 2025
AMD Financial Results Second Quarter 2025 August 5, 2025
Slide 2: Cautionary Statement
Cautionary Statement This presentation contains forward-looking statements concerning Advanced Micro Devices, Inc. (AMD), such as the features, functionality, performance, availability, timing and expected benefits of future AMD products; AMD's large growth opportunities across diverse set of market
Slide 3: Our Journey
Leadership Product Portfolio Expanding Customer & Partner Ecosystem Our Journey Data Center and AI Growth Strong Financial Foundation 3 | | Q2 2025 FINANCIAL RESULTS – August 5, 2025
Slide 4: High Performance & Adaptive Computing Leadership
High Performance & Adaptive Computing Leadership Leadership Breadth and Depth Open, Proven Deep, Collaborative Foundational IP of Portfolio Software Ecosystem Partnerships Accelerating innovation in Scaling compute engines Delivering a robust Computing partner of silicon architecture, from cloud to
Slide 5: Large Growth Opportunities
Large Growth Opportunities Across a Diverse Set of Markets Data Center Client and Gaming Embedded Performance, efficiency and Leadership performance Industry’s broadest portfolio AI capabilities for commercial and TCO across cloud, of adaptive and embedded and consumer PC and enterprise and AI workl
Slide 6: Completion of Acquisition of ZT Systems
Completion of Acquisition of ZT Systems on March 31, 2025 BRINGING TOGETHER WORLD-CLASS SILICON, SOFTWARE AND SYSTEMS DESIGN TO DELIVER RACK-SCALE AI SOLUTIONS Enabling new class of Addressing high-growth Leadership systems Manufacturing divestiture end-to-end AMD AI data center AI accelerator desig
Slide 7: Revenue Q2 2025
Revenue Q2 2025 $7.7B Record second quarter revenue of $7.7 billion increased 32% y/y $5.8B Revenue growth driven by record sales of Ryzen and EPYC processors, and higher semi-custom shipments Q2 2024 Q2 2025 7 | | Q2 2025 FINANCIAL RESULTS – August 5, 2025
Slide 8: Gross Margin Q2 2025
Gross Margin Q2 2025 1 GAAP Non-GAAP 53% 49% 43% 40% Q2 2024 Q2 2025 Q2 2024 Q2 2025 Decrease due to the $800 million inventory and related charges associated with US export control restrictions on Instinct MI308 products; Excluding this charge, non-GAAP gross margin1 would have been ~54% 1. See App
Slide 9: Operating Income Q2 2025
Operating Income Q2 2025 1 GAAP Non-GAAP $0.3B $1.3B $0.9B Q2 2024 Q2 2025 $(0.1B) Q2 2024 Q2 2025 Decline due to the inventory and related charges associated with US export control restrictions 1. See Appendices for GAAP to Non-GAAP reconciliation 9 | | Q2 2025 FINANCIAL RESULTS – August 5, 2025
Slide 10: Diluted Earnings Per Share Q2 2025
Diluted Earnings Per Share Q2 2025 1 GAAP Non-GAAP $0.69 $0.54 $0.48 $0.16 Q2 2024 Q2 2025 Q2 2024 Q2 2025 • GAAP net income of $0.9 billion • Non-GAAP net income of $0.8 billion • GAAP EPS up significantly y/y, primarily driven by higher revenue and • The $800 million inventory and related charges
Slide 11: Q2 2025 Summary P&L | GAAP
Q2 2025 Summary P&L | GAAP $ in millions, except per share data and % Q2'25 Q2’24 Y/Y Q1'25 Q/Q Revenue $7,685 $5,835 Up 32% $7,438 Up 3% Gross Profit $3,059 $2,864 Up 7% $3,736 Down 18% Gross Margin 40% 49% Down 9 ppts 50% Down 10 ppts Operating Expenses $3,193 $2,595 Up 23% $2,930 Up 9% Operating
Slide 12: Q2 2025 Summary P&L | NON-GAAP
Q2 2025 Summary P&L | NON-GAAP1 $ in millions, except per share data and % Q2'25 Q2'24 Y/Y Q1'25 Q/Q Revenue $7,685 $5,835 Up 32% $7,438 Up 3% Gross Profit $3,326 $3,101 Up 7% $3,992 Down 17% Gross Margin 43% 53% Down 10 ppts 54% Down 11 ppts Operating Expenses $2,429 $1,837 Up 32% $2,213 Up 10% Ope
Slide 13: Q2 2025 Segment Results
Q2 2025 Segment Results $ in millions Q2’25 Q2’24 Y/Y Q1’25 Q/Q Data Center Net Revenue $3,240 $2,834 Up 14% $3,674 Down 12% Operating Income (Loss) $(155) $743 Down 121% $932 Down 117% Client & Gaming Net Revenue $3,621 $2,140 Up 69% $2,941 Up 23% Operating Income $767 $166 Up 362% $496 Up 55% Embe
Slide 14: Q2 2025 Summary Balance Sheet Items
Q2 2025 Summary Balance Sheet Items $ in millions Q2’25 Q1’25 Q/Q Cash, Cash Equivalents and $5,867 $7,310 Down 20% Short-term Investments1 Accounts Receivable, Net $5,115 $5,443 Down 6% Inventories $6,677 $6,416 Up 4% Total Debt $3,218 $4,164 Down 23% Cash from operating activities of continuing op
Slide 15: Data Center Segment Q2 2025
Data Center Segment Q2 2025 Revenue Operating Margin Strategic Highlights $3.2B 26% $2.8B • Launched AMD InstinctTM MI350 series with industry- leading memory bandwidth and capacity and broad adoption across hyperscalers, AI companies and server providers • Announced AMD ROCm 7 software with major u
Slide 16: Client and Gaming Segment Q2 2025
Client and Gaming Segment Q2 2025 Revenue Operating Margin Strategic Highlights $3.6B 21% Gaming $1.1B $2.1B • Announced AMD Ryzen Threadripper Gaming 9000WX and Threadripper PRO 9000X Series $0.6B processors with leadership compute for Client 8% workstations Client $2.5B • Launched AMD Radeon RX 90
Slide 17: Embedded Segment Q2 2025
Embedded Segment Q2 2025 Revenue Operating Margin Strategic Highlights $0.9B $0.8B 40% 33% • Began shipping first AMD Spartan UltraScale+ FPGA devices, delivering performance, low power, security features and reliability for cost-sensitive edge applications Q2 2024 Q2 2025 Q2 2024 Q2 2025 • Bosch an
Slide 18: Financial Outlook – NON-GAAP
Financial Outlook – NON-GAAP1 Q3’25 ~$8.7 Billion, Revenue +/- $300 Million Gross Margin ~54% Operating Expenses ~$2.55 Billion Interest Expense/Other Income (Expense), net ~$10 Million Effective Tax Rate ~13% of pre-tax income Diluted Share Count2 ~1.63 Billion shares Note: Our current outlook does
Slide 19: Q2 2025 Summary
Q2 2025 Summary1 Data Center Segment Revenue Record revenue $3.2B, Up 14% y/y Gross Margin 40% Diluted EPS $0.54 $7.7B Non-GAAP Non-GAAP Up 32% y/y Client and Gaming Gross Margin 43% Diluted EPS $0.48 Segment Revenue $3.6B, Up 69% y/y Significant Y/Y revenue growth driven by record sales of Ryzen an
Slide 20: Corporate Responsibility at AMD
Corporate Responsibility at AMD Environmental Social Governance Integrating corporate Advancing environmental Fostering a culture of responsibility and solutions in our products, diversity, belonging and governance across product supply chain and operations, inclusion, partnering with design, supply
Slide 21: Our Momentum
Our Momentum Expanding Data World-Class Large and Technology Strong Balance Center and AI Execution and Compelling TAM Leadership Sheet Leadership Focus DRIVING LONG-TERM SHAREHOLDER RETURNS 21 | | Q2 2025 FINANCIAL RESULTS – August 5, 2025
Slide 22: Appendices
Appendices Reconciliation of GAAP to Non-GAAP Gross Profit and Gross Margin $ in millions, except % (Unaudited) Q2’25 Q2’24 Q1’25 GAAP gross profit $ 3,059 $ 2,864 $ 3,736 GAAP gross margin 40% 49% 50% Stock-based compensation 6 5 5 Amortization of acquisition-related intangibles 260 231 251 Acquisi
Slide 23: Appendices
Appendices Reconciliation of GAAP Operating Income (Loss) to Non-GAAP Operating Income $ in millions, except % (Unaudited) Q2’25 Q2’24 Q1’25 GAAP operating income (loss) $ (134) $ 269 $ 806 GAAP operating margin (2)% 5% 11% Stock-based compensation 369 346 364 Amortization of acquisition-related int
Slide 24: Appendices
Appendices Reconciliation of GAAP to Non-GAAP Net Income / Diluted Earnings Per Share $ in Millions, except per share data (Unaudited) Q2’25 Q2’24 Q1’25 GAAP net income / earnings per share $ 872 $ 0.54 $ 265 $ 0.16 $ 709 $ 0.44 (Gains) losses on equity investments, net (61) (0.04) - - 2 - Stock-bas
Slide 25: Appendices
Appendices Reconciliation of GAAP Net Cash Provided by Operating Activities of Continuing Operations to Free Cash Flow $ in millions, except % (Unaudited) Q2’25 GAAP net cash provided by operating activities of continuing operations $ 1,462 Operating cash flow margin % from continuing operations 19%
Slide 26: Share Count Overview
Appendices Share Count Overview (1) Q2’25 Q3’25 Shares (millions) Actual Estimate Basic shares 1,623 1,625 Dilutive impact from employee equity grants (2) 7 7 Diluted shares 1,630 1,632 The table above provides actual share count for Q2’25 and an estimate of share count to use when calculating GAAP
Slide 27: Appendices
Appendices RECONCILIATION OF GAAP TO ADJUSTED NON-GAAP FINANCIAL MEASURES $ in millions, except % (Unaudited) Q2’25 GAAP gross profit $ 3,059 GAAP gross margin 40% Stock-based compensation, amortization of acquisition-related intangibles, 267 acquisition-related and other costs Inventory and related
Slide 28: Endnotes
Endnotes MI300-080 -Testing by AMD Performance Labs as of May 15, 2025, measuring the inference performance in tokens per second (TPS) of AMD ROCm 6.x software, vLLM 0.3.3 vs. AMD ROCm 7.0 preview version SW, vLLM 0.8.5 on a system with (8) AMD Instinct MI300X GPUs running Llama 3.1-70B (TP2), Qwen
Slide 29: | Q2 2025 FINANCIAL RESULTS – August 5, 2025
29 | | Q2 2025 FINANCIAL RESULTS – August 5, 2025