secwatch.observer — SEC 8-K summary
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Issuer:     ADVANCED MICRO DEVICES INC (AMD)
CIK:        0000002488
Form:       8-K
Filed at:   2022-10-06T23:59:59+00:00
Accession:  0000002488-22-000163
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

AMD pre-announces Q3 revenue ~$5.6B, well below guidance of $6.7B on PC weakness
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- Preliminary Q3 revenue ~$5.6B (+29% YoY) vs prior guidance of ~$6.7B; client revenue fell 40% YoY to ~$1.0B.
- Non-GAAP gross margin expected ~50% vs prior guidance of ~54%; includes ~$160M charges for inventory and pricing reserves.
- Data Center segment revenue ~$1.6B (+45% YoY), Gaming ~$1.6B (+14% YoY), Embedded ~$1.3B (+1549% YoY) all in-line.
- GAAP operating expenses ~$2.4B; non-GAAP opex ~$1.5B, lower than expected $1.6B due to lower variable compensation.
- CEO cites weaker PC demand and significant inventory correction across supply chain; full Q3 results on Nov 1.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/2488/000000248822000163/0000002488-22-000163-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/2488/000000248822000163/amd-20221006.htm
  HTML page:      https://secwatch.observer/filing/0000002488-22-000163

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