Research Desk Line-up: Vishay Intertechnology Post Earnings Coverage

LONDON, UK / ACCESSWIRE / November 3, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Advanced Micro Devices, Inc. (NASDAQ: AMD) ("AMD"), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=AMD, following the Company's disclosure of its third quarter fiscal 2017 financial results on October 24, 2017. The chipmaker outperformed top- and bottom-line expectations and raised its revenue guidance for the upcoming quarter. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Semiconductor - Broad Line industry. Pro-TD has currently selected Vishay Intertechnology, Inc. (NYSE: VSH) for due-diligence and potential coverage as the Company reported on October 26, 2017, its financial results for Q3 2017 which ended on September 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Vishay Intertechnology when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on AMD; also brushing on VSH. With the links below you can directly download the report of your stock of interest free of charge at:

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Earnings Reviewed

For the three months ended September 30, 2017, AMD's revenue surged 26% to 1.64 billion compared to revenue of $1.31 billion in Q3 2016, primarily driven by higher revenue in the Computing and Graphics (CG) segment. In the reported quarter, the Company closed a patent licensing transaction which positively impacted revenue in the segments. AMD's revenue numbers exceeded analyst' expectations of $1.51 billion.

On a GAAP basis, AMD's gross margin was 35% in Q3 2017, up 30% on a y-o-y basis, primarily due to a $340 million charge related to the Company's GLOBALFOUNDRIES Wafer Supply Agreement (WSA) in the year-ago same period. Additionally, the Company's gross margin growth was driven by the benefit from IP related revenue and a richer revenue mix from CG partially offset by costs associated with the WSA for certain wafers purchased at another foundry. On a non-GAAP basis, the Company's gross margin was 35%, up 4% compared to the year-ago corresponding period.

For Q3 2017, AMD reported operating income of $126 million, compared to an operating loss of $293 million in Q3 2016. On a non-GAAP basis, the Company's operating income totaled $155 million for the reported quarter versus $70 million in the year-earlier comparable quarter

AMD reported net income of $71 million for Q3 2017 compared to net losses of $406 million in Q3 2016. The Company's diluted earnings per share totaled $0.07 compared to losses per share of $0.50 in the year-earlier same quarter. On a non-GAAP basis, the Company posted net income of $110 million in the reported quarter compared to $27 million in the prior year's corresponding quarter. AMD's non-GAAP diluted earnings per share totaled $0.10 for Q3 2017 compared to $0.03 per diluted share in Q3 2016 and also came in ahead of Wall Street's estimates of $0.08 per share.

AMD's cash, cash equivalents, and marketable securities were $879 million as of September 30, 2017, compared to $844 million in the prior quarter.

AMD's Segment Performance Summary

During Q3 2017, CG segment's revenue soared 74% to $819 million compared to $472 million in Q3 2016, primarily driven by strong sales of RadeonTM graphics and RyzenTM desktop processors. The segment's client average selling price (ASP) increased significantly y-o-y, due to higher desktop processor ASP driven by RyzenTM processor sales.

In the reported quarter, CG's operating income was $70 million compared to an operating loss of $66 million in the year-earlier same quarter, with the improvement primarily attributed to higher revenue.

For Q3 2017, the Enterprise, Embedded, and Semi-Custom segment's revenue totaled $824 million compared to $835 million in Q3 2016, primarily driven by lower semi-custom SoC sales, mostly offset by IP related and EPYCTM processor revenue. The segment's operating income was $84 million in the reported quarter compared to $136 million in the year-earlier same quarter, with the decline attributed to higher costs partially offset by the net benefit of IP related items.

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