This morning, AMD announced its fourth quarter results for fiscal 2017.
Revenue in FY2017 exceeded AMD's initial forecast. Revenue in the fourth quarter was $1.48 billion, up 34% from $1.11 billion in the same period last year, down from $1.64 billion in the third quarter, but gross margin remained at 35%. On the level. Fourth-quarter operating income was $82 million and net profit was $61 million, up from $3 million in operating loss for the same period last year and a net loss of $51 million, down from $126 million and $71 million in the previous quarter. This generated a gain of $0.06 per share.
AMD also reported non-GAAP results, which typically showed basic business performance after a large write-down, but non-GAAP results for the quarter were very similar to those of generally accepted accounting principles, with no wafer reorganization or other large expenses. Non-GAAP results for the quarter mainly exclude stock compensation, which was $21 million this quarter. Based on non-GAAP, operating income was $103 million, net income was $88 million, and earnings per share were $0.08.
AMD's full-year revenue was $5.53 billion, a 25% increase from 2016, with a total gross margin of 34%. Operating income for the full year was $204 million, compared with an operating loss of $372 million in the same period last year. The company's annual net income was $43 million, compared with a loss of $497 million in 2016.
Much of AMD's growth is not surprising. In 2017, not only did the popular Ryzen CPU lineup be released, but the extremely hot cryptocurrency is also in high demand for GPUs. Thanks to AMD's new CPU and GPU release, the computing and graphics division's fourth-quarter revenue was $958 million, a 60% increase over the same period last year. The segment's operating income was $85 million, which was higher than the net loss of $21 million a year ago.
Corporate, embedded and semi-customized quarterly revenues were $522 million, up 3% from the same period last year, and AMD attributed it to server revenue. The division’s operating income was $19 million, down from $47 million a year ago.
The company's other operating losses totaled $22 million, which is an improvement from the $29 million loss in the fourth quarter of 2016. AMD expects revenue for the first quarter of 2018 to be $1.55 billion, plus or minus $50 million.
For AMD, 2018 will be an exciting year.
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