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Killexams : Oracle Financials test - BingNews https://killexams.com/pass4sure/exam-detail/1Z0-507 Search results Killexams : Oracle Financials test - BingNews https://killexams.com/pass4sure/exam-detail/1Z0-507 https://killexams.com/exam_list/Oracle Killexams : Anaconda Announces Strategic Cloud Partnership with Oracle

AUSTIN, Texas, Aug. 9, 2022 — Anaconda Inc., provider of the world’s most popular data science platform, today announced a collaboration with Oracle Cloud Infrastructure to offer secure open-source Python and R tools and packages by embedding and enabling Anaconda’s repository across OCI Artificial Intelligence and Machine Learning Services. Customers have access to Anaconda services directly from within OCI without a separate enterprise license.

“We are committed to helping enterprises secure their open-source pipelines through the ability to use Anaconda anywhere, and that includes inside the Oracle Cloud,” said Peter Wang, CEO and co-founder of Anaconda. “By combining Anaconda’s package dependency manager and curated open-source repository with OCI’s products, data scientists and developers can seamlessly collaborate using the open-source Python tools they know and trust – while helping meet enterprise IT governance requirements.”

Python has become the most popular programming language in the data science ecosystem, and for good reason; it is a widely-accessible language that facilitates a variety of programming-driven tasks. Because the velocity of innovation powered by the open-source community outpaces any single technology vendor, more and more organizations are adopting open-source Python for enterprise use.

“Oracle’s partnership to provide data scientists with seamless access to Anaconda not only delivers high-performance machine learning, but also helps ensure strong enterprise governance and security,” said Elad Ziklik, vice president, AI Services, Oracle. “With security built into the core OCI experience, plus the security of Anaconda’s curated repository, data scientists can use their favorite open-source tools to build, train, and deploy models.”

Together, Anaconda and Oracle are looking forward to bringing open-source innovation to the enterprise, helping apply ML and AI to the most important business and research initiatives. For more information on how to use Anaconda in OCI, click here.

About Anaconda

With more than 30 million users, Anaconda is the world’s most popular data science platform and the foundation of modern machine learning. We pioneered the use of Python for data science, champion its vibrant community, and continue to steward open-source projects that make tomorrow’s innovations possible. Our enterprise-grade tools are the leading solution for securing and managing commercial uses of Python, and enable corporate, research, and academic institutions around the world to harness the power of open-source for competitive advantage, groundbreaking research, and building a smarter, better world.


Source

Tue, 09 Aug 2022 05:15:00 -0500 text/html https://www.datanami.com/this-just-in/anaconda-announces-strategic-cloud-partnership-with-oracle/
Killexams : Oracle layoffs also may be affecting Cerner employees No result found, try new keyword!As Oracle cuts jobs in its quest to eliminate $1 billion in expenses, some of those reductions may creep into its new Cerner unit. Thu, 04 Aug 2022 00:55:00 -0500 text/html https://www.bizjournals.com/kansascity/news/2022/08/04/oracle-cerner-job-layoffs.html Killexams : Test drive EWI's Financial Forecast Service

How to Protect your Wealth by Investing in AI Tech Stocks

Stock-Markets / Financial Markets 2022 Jul 21, 2022 - 09:59 PM GMT

By: EWI

Stock-Markets

Hi reader,

Market action this year has hurt A LOT of people. Cryptos. Meme stocks. Tech stocks. We've seen some huge percentage declines -- all against a backdrop of historic leaps in interest rates and inflation.

Lifestyles irrevocably changed, not for the better.

Economists missed it. The Fed missed it. Politicians missed it.

But a few folks got it right.

Every month, Elliott Wave International President Robert Prechter and his long-time colleagues Steven Hochberg and Peter Kendall write 20 pages on the markets.

Earlier this year, in his legendary Elliott Wave Theorist, Prechter said:

"2022 through 2024 will witness the biggest bear market ever recorded."

And in early 2021, in reference to headlines about a new "roaring twenties," Hochberg and Kendall included this chart and commentary in their Financial Forecast:

"The great prior valuation extremes arrived amidst relatively robust economic performance. ... Today's weak economy accompanies the overvaluation present during the current fifth and final wave of the Grand Supercycle degree bull market. The anticipation of a roaring new era of stock gains in the face of broad economic deterioration is exactly what we should expect at the top of a major fifth wave."

Many high-flying meme stocks peaked the very next month. Bitcoin and the Nasdaq topped out in November 2021 and the Dow and S&P 500 followed soon after in January 2022.

Are Prechter, Hochberg and Kendall always that right? Of course not.

But: Are they right enough -- and better than the mainstream?

Absolutely.

So here's the deal. For $17, our friends at EWI are offering you 1-week's access to those twenty pages, plus their 3x/week Short Term Update -- and they'll include 3 FREE resources to help you get started. All told, it's nearly $300 worth of material.

Test drive EWI's Financial Forecast Service now for only $17 >>

Join now: The trial offer expires on Thursday, July 28th.

Sincerely,

EWI

P.S. This is an excellent chance to test drive what Financial Forecast Service subscribers pay $97 a month for. For one full week, you get it all -- for just $17. No, that is not a typo.

Who is Elliott Wave International?
EWI is the world's largest independent technical analysis firm. Founded by Robert Prechter in 1979, EWI helps investors and traders to catch market opportunities and avoid potential pitfalls before others even see them coming. Their unique perspective and high-quality analysis have been their calling card for nearly 40 years, featured in financial news outlets such as Fox Business, CNBC, Reuters, MarketWatch and Bloomberg.

© 2005-2019 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.

Thu, 21 Jul 2022 08:02:00 -0500 text/html https://www.marketoracle.co.uk/Article70408.html
Killexams : Insiders describe 'complete chaos' at Oracle following layoffs and restructuring

Take a deep breath. It's Friday. I'm Jordan Parker Erb, and today I'm taking you inside the "complete chaos" at Oracle as layoffs and restructuring roil the database giant.

By the way, apologies for the slight delay this morning — we had a technical issue. (Fitting for a tech newsletter!)

Let's get to it.

If this was forwarded to you, sign up here. obtain Insider's app here.

Larry Ellison, Oracle cofounder, speaks onstage in front of background of red circles

Kim Kulish/Getty Images

1. Oracle insiders describe "complete chaos" from layoffs and restructuring. Earlier this week, Oracle began a sizable layoff, potentially impacting thousands of employees — and those who haven't yet been laid off are scrambling to figure out whether they'll be next.

  • The hardest-hit units, current and former employees said, were in the marketing and customer experience divisions. Some marketing teams have seen their headcount slashed by anywhere from 30% to 50%.

  • In some cases, they said, managers were given the choice of who would get cut, while others had no say in how the layoffs would affect their teams.

  • The Advertising and Customer Experience team was said to have been cut, too. "The common verb to describe ACX is that they were obliterated," one employee said.

  • This leaked org chart shows Oracle's cloud leaders after the company's major organizational changes.

A look inside Oracle over the past week.

In other news:

Lina Khan speaks with hand up

FTC chair Lina KhanGraeme Jennings/Pool via REUTERS

2. The Federal Trade Commission is deepening its investigation into Amazon's Prime sign-up and cancellation process. The FTC sent out subpoenas and other demands for information after Insider reporting. Here's our scoop on what's going on.

3. Axed "Robinhoodies" say they were tipped off to layoffs weeks ago. Former Robinhood employees said they saw signs of belt-tightening — including plans to shrink office space — long before the company laid off 23% of its staff. Five former employees took us behind the scenes.

4. Elon Musk's countersuit against Twitter says the company is operating a "scheme" to mislead investors. Musk argued that he is entitled to drop the deal entirely — and Twitter pushed back, saying the billionaire's story is "implausible." Get the big takeaways.

5. Nike is offering $5,000 employee bonuses for some tech job referrals. Grappling with internal turmoil and a wave of exits, the company announced the new referral program, which has been met with mixed reviews from employees. Here's what we know.

6. Fifteen current and former Apple female employees say the company dismissed claims of misconduct. After the Financial Times reported the HR unit retaliated against some of them after speaking up about the incidents, Apple vowed to "make changes." What we know so far.

7. Startup founders' mental health is crumbling. Dried-up funding and the stress of a turbulent economic year has piled stress on founders who are already trying to do the impossible: build iconic tech companies. Why some founders "are especially not OK."

8. Elon Musk denied that he's planning to build his own private airport in Texas. Local news site Austonia reported last week that an airport could help grow his companies in the region, but Musk said that's "not true" and it "would be silly." Get the full rundown here.

Odds and ends:

Mark Zuckerberg wearing sunglasses

Alex Kantrowitz

9. Mark Zuckerberg is minting an NFT of his Little League baseball card. In a post announcing Instagram's expanded support for NFTs, Zuckerberg shared his own "soon-to-be NFT." See the potential digital collectible of a young Zuck.

10. We broke down how to unsend text messages using iOS 16. iPhone users with iOS 16 will have 15 minutes to unsend a text — and delete it from the recipient's phone. How it works and how to do it.

The latest people moves in tech:

Keep updated with the latest tech news throughout your day by checking out The Refresh from Insider, a dynamic audio news brief from the Insider newsroom. Listen here.

Curated by Jordan Parker Erb in New York. (Feedback or tips? Email jerb@insider.com or tweet @jordanparkererb.) 

Read the original article on Business Insider

Thu, 04 Aug 2022 22:58:00 -0500 en-US text/html https://www.yahoo.com/now/insiders-describe-complete-chaos-oracle-105842621.html
Killexams : Band Protocol price outlook as DeFi industry rebounds

Band Protocol price has tilted upwards as the decentralized finance (DeFi) industry rebounds. Its token, BAND, rose to a high of $1.7180, which was about 45% above the lowest level in 2022. Its total market cap has risen to over $71 million, making it the 345th biggest coin in the world.

Why is Band Protocol rising?

Band Protocol is a blockchain project that operates in the smart oracle industry. It is mostly used by developers who are building decentralized finance protocols.

Like Chainlink, it is used to provide data in the off-chain market to the on-chain. For example, a builder creating an app to trade stocks can use Band to get this data in an easy way.

Band Protocol is used widely. For example, it is used to provide off-chain cryptocurrency data to platforms like Loopring, Kyber Network, and Cream Finance. Other platforms that use Band Protocol are Homora, Injective, and dForce among others.

Band Protocol is the fifth oracle provider in the industry. Chainlink is the biggest player in the sector followed by Maker, WinkLink, and Pyth. Other notable players in the oracle industry are TWAP, Internal, DIA, and Flux.

Like other providers in the industry, BAND price has struggled in the past few months because of the weak performance of the DeFi industry. Indeed, the total value locked (TVL) in the sector crashed from over $250 billion to less than $70 billion. This crash happened after the meltdown of the Terra ecosystem.

Now, Band Protocol price is rising as investors react to the rebound of the sector. For example, the TVL has risen to over $90 billion. Its total value secured (TVS) has risen to over $539 million.

Many investors believe that the sector recently went through a stress test as volume disappeared. Most of these platforms have survived this test while centralized companies struggled.

Band Protocol price prediction

The four-hour chart shows that the BAND price has been in a strong slow bullish trend in the past few days. As a result, the coin has risen from the YTD low of $1.1870 to the current $1.7170. The coin has moved slightly above the 25-day and 50-day moving averages while the MACD has moved above the neutral point.

Therefore, there is a likelihood that the coin will continue rising as investors target the next key resistance at $2. A drop below the support at $1.5630 will invalidate the bullish view.

Wed, 03 Aug 2022 23:24:00 -0500 en-GB text/html https://coinjournal.net/news/band-protocol-price-outlook-as-defi-industry-rebounds/
Killexams : To Pit or Not to Pit: How F1’s Red Bull Racing Makes Split-Second, Mid-Race Decisions No result found, try new keyword!With simulations running constantly during a Formula 1 race, speed and accuracy in the data is key to winning. Thu, 04 Aug 2022 06:02:00 -0500 en-us text/html https://www.msn.com/en-us/sports/more-sports/to-pit-or-not-to-pit-how-f1-e2-80-99s-red-bull-racing-makes-split-second-mid-race-decisions/ar-AA10ja7s Killexams : 7 Warren Buffett Dividend Stocks That Every Total Return Investor Should Own No result found, try new keyword!One of the reasons for Berkshire Hathaway’s stunning success over the years is that Buffett and his right hand man, Charlie Munger, have always tried to stay with stock ideas they understand, and that ... Sun, 31 Jul 2022 22:31:28 -0500 en-us text/html https://www.msn.com/en-us/money/companies/7-warren-buffett-dividend-stocks-that-every-total-return-investor-should-own/ar-AA10bfyU Killexams : How Oracle’s Larry Ellison can win investor lawsuit even if he loses

By Jef Feeley and Neil Weinberg | Bloomberg

Oracle Corp. Chairman Larry Ellison testified in a lawsuit on Wednesday that he did not call the shots at the company he co-founded and holds a 40% stake in and was not involved in discussing the acquisition at the center of the dispute.

The investor suit, brought in a Delaware court by a pension fund, accuses the 8th-richest American and others at Oracle of overpaying by $3 billion for rival software maker NetSuite Inc. in 2016. Ellison owned 47% of NetSuite at the time of the $9.3 billion deal and held about 28% of Oracle’s shares.

The Firemen’s Retirement System of St. Louis, an Oracle investor, sued Ellison and the company’s board in 2017 to challenge the acquisition. The case, known as a derivative suit, was brought on behalf of the company, so any money recovered will be returned to Oracle. The company didn’t respond to an email and phone call seeking comment on the case.

A win by the shareholders could force changes to management or the board, or result in an award that would boost the value of the company. As a significant shareholder, Ellison would benefit from any increased value in the company, but that might be offset by any amount he’d be forced to pay — although payouts are often covered by insurance, said Eric Talley, a professor at Columbia Law School who specializes in corporate and transactional law.

Appearing remotely, Ellison was pressed repeatedly on the plaintiff’s assertion that he remained Oracle’s chief decision-maker even after stepping down as chief executive officer in 2014 and becoming chief technology officer. Lawyers played clips of his successor as CEO and erstwhile boss, Safra Catz, in which she suggested Ellison continued to hold sway.

“Larry Ellison is it,” Catz was shown saying in a 2018 excerpt. “Don’t let titles fool you.”

Ellison, speaking calmly, said Oracle’s board and top managers didn’t defer to him after he stepped down as CEO, adding that there were many instances in which he did not get his way.

“The idea that these people just blindly do what I tell them is just not true,” he testified.

Under questioning earlier in the day from a defense lawyer, Ellison also said that he had recused himself from discussions at both companies related to the NetSuite acquisition.

The trial in Delaware Chancery Court got under way last week and Ellison appeared by video after some of his defense lawyers tested positive for Covid-19. Getting an executive of Ellison’s stature on the stand in a shareholder suit trial is fairly unusual, but not unique. Tesla Inc. founder Elon Musk — a friend of Ellison’s — spent two days in a Delaware court last year testifying to defend his takeover of SolarCity, which shareholders claimed he pushed for his own benefit rather than theirs. Musk won.

While not in the public eye as much as Musk, Ellison is worth $92.6 billion, according to the Bloomberg Billionaires Index. His fortune has almost doubled since 2019 as Oracle stock has jumped. He’s also benefited from owning a stake in Tesla that now exceeds $12 billion. Ellison joined the board of Tesla in 2018.

The lawsuit accuses Ellison, Oracle Chief Executive Officer Catz and director Renee James of orchestrating the combination when NetSuite’s sales were slowing because of increased competition from Oracle, damaging NetSuite’s stock price and Ellison’s personal stake. The fund also alleges a majority of Oracle directors deceived investors about Ellison’s role in the NetSuite acquisition process.

An Oracle executive floated the idea of buying NetSuite at a January 2016 Oracle board retreat at Ellison’s estate in Rancho Mirage, according to a court filing. Because of his stake in the target, Ellison recused himself from discussions about the potential deal, but didn’t leave the room, the pension fund claims.

Catz and NetSuite executives reached a deal at a price of a $109-a-share, which amounted to a more than 42% premium over the target’s share price, according to the complaint.

‘Best Deals’

Ellison and the other defendants counter the company set up a special board committee to evaluate the NetSuite deal and address the conflict allegations. That group held 15 meetings about the buyout; Ellison didn’t attend any of them, according to court filings.

The committee hired the investment firm Moelis & Co to review the deal concluded the value was “fair from a financial point of view to the company,” the filings said. “Oracle’s acquisition of NetSuite, Inc. was not merely a valid exercise of business judgment; it was one of the best deals Oracle has ever made.”

Since the 2016 NetSuite deal, Oracle has acquired 22 more companies. Most recently, it paid $28.3 billion for health care records provider Cerner Corp. to try and build inroads in the health care industry, which has been comparatively slow to adopt cloud database technology.

The defense also belittled the fund’s allegations Ellison used Catz and James as his pawns to engineer the deal in a way that unduly benefited the billionaire and his family. “It would make no sense for Ellison to risk his far more significant Oracle investment — and his reputation/legacy — by causing Oracle to engage in a conflicted and value-decreasing transaction, just to save his much-smaller investment in NetSuite,” according to the brief.

To make out their case under Delaware law, the fund must prove to the judge that Oracle’s buyout of NetSuite wasn’t “entirely fair,” and Ellison, Catz and James violated legal duties to shareholders by overpaying for the software maker.

Judge Sam Glasscock III is hearing the case in Georgetown, Delaware.

The case is In Re Oracle Corporation Derivative Litigation, 2017-0337, Delaware Chancery Court (Wilmington).

More stories like this are available on bloomberg.com

©2022 Bloomberg L.P.

Wed, 27 Jul 2022 06:05:00 -0500 Bloomberg en-US text/html https://www.eastbaytimes.com/2022/07/27/oracles-larry-ellison-can-win-lawsuit-even-if-he-loses-2/
Killexams : AMD Reports Second Quarter 2022 Financial Results

Advanced Micro Devices, Inc.

― Record quarterly revenue of $6.6 billion grew 70% year-over-year;
Record quarterly operating cash flow exceeded $1 billion ―

SANTA CLARA, Calif., Aug. 02, 2022 (GLOBE NEWSWIRE) -- AMD (NASDAQ:AMD) today announced revenue for the second quarter of 2022 of $6.6 billion, gross margin of 46%, operating income of $526 million, operating margin of 8%, net income of $447 million and diluted earnings per share of $0.27. On a non-GAAP(*) basis, gross margin was 54%, operating income was $2.0 billion, operating margin was 30%, net income was $1.7 billion and diluted earnings per share was $1.05.

GAAP Quarterly Financial Results

Q2 2022

Q2 2021

Y/Y

Revenue ($M)

$6,550

$3,850

Up 70%

Gross profit ($M)

$3,028

$1,830

Up 65%

Gross margin %

46%

48%

Down 140 bps

Operating expenses ($M)

$2,508

$1,000

Up 151%

Operating income ($M)

$526

$831

Down 37%

Operating margin %

8%

22%

Down 14 pp

Net income ($M)

$447

$710

Down 37%

Earnings per share

$0.27

$0.58

Down 53%

Non-GAAP(*) Quarterly Financial Results

Q2 2022

Q2 2021

Y/Y

Revenue ($M)

$6,550

$3,850

Up 70%

Gross profit ($M)

$3,538

$1,832

Up 93%

Gross margin %

54%

48%

Up 640 bps

Operating expenses ($M)

$1,562

$909

Up 72%

Operating income ($M)

$1,982

$924

Up 115%

Operating margin %

30%

24%

Up 6 pp

Net income ($M)

$1,707

$778

Up 119%

Earnings per share

$1.05

$0.63

Up 67%

“We delivered our eighth straight quarter of record revenue based on our strong execution and expanded product portfolio,” said AMD Chair and CEO Dr. Lisa Su. “Each of our segments grew significantly year-over-year, led by higher sales of our data center and embedded products. We see continued growth in the back half of the year highlighted by our next generation 5nm product shipments and supported by our diversified business model.”

Q2 2022 Financial Summary

  • Revenue of $6.6 billion increased 70% year-over-year driven by growth across all segments and the inclusion of Xilinx revenue.

  • Gross margin was 46%, a decrease of 2 percentage points year-over-year, primarily due to amortization of intangible assets associated with the Xilinx acquisition. Non-GAAP gross margin was 54%, an increase of 6 percentage points year-over-year, primarily driven by higher Data Center and Embedded segment revenue.

  • Operating income was $526 million, or 8% of revenue, compared to $831 million or 22% a year ago primarily due to amortization of intangible assets associated with the Xilinx acquisition. Record non-GAAP operating income was $2.0 billion, or 30% of revenue, up from $924 million or 24% a year ago primarily driven by higher revenue and gross profit.

  • Net income was $447 million compared to $710 million a year ago primarily due to lower operating income. Record non-GAAP net income was $1.7 billion, up from $778 million a year ago primarily driven by higher operating income.

  • Diluted earnings per share was $0.27 compared to $0.58 a year ago primarily due to lower net income and a higher share count as a result of the Xilinx acquisition. Non-GAAP diluted earnings per share was $1.05 compared to $0.63 a year ago primarily driven by higher net income.

  • Cash, cash equivalents and short-term investments were $6.0 billion at the end of the quarter and debt was $2.8 billion. AMD repurchased $920 million of common stock during the quarter.

  • Cash from operations was a record $1.04 billion in the quarter, compared to $952 million a year ago. Free cash flow was $906 million in the quarter compared to $888 million a year ago.

  • Goodwill and acquisition-related intangible assets associated with the acquisitions of Xilinx and Pensando were $50.4 billion.

Quarterly Segment Financial Summary

  • AMD previously announced new segments beginning the second quarter to align financial reporting with the way AMD now manages its business in strategic end markets.

    • Data Center segment includes server CPUs, data center GPUs, Pensando and Xilinx data center products.

    • Client segment includes desktop and notebook PC processors and chipsets.

    • Gaming segment includes discrete graphics processors and semi-custom game console products.

    • Embedded segment includes AMD and Xilinx embedded products.

  • Prior period results have been conformed to the new reporting segments for comparison purposes.

  • Data Center segment revenue was $1.5 billion, up 83% year-over-year driven by strong sales of EPYC™ server processors. Operating income was $472 million, or 32% of revenue, compared to $204 million or 25% a year ago. Operating income improvement was primarily driven by higher revenue, partially offset by higher operating expenses.

  • Client segment revenue was $2.2 billion, up 25% year-over-year driven by Ryzen™ mobile processor sales. Client processor ASP increased year-over-year driven by a richer mix of Ryzen mobile processor sales. Operating income was $676 million, or 32% of revenue, compared to $538 million or 31% a year ago. Operating income improvement was primarily driven by higher revenue, partially offset by higher operating expenses.

  • Gaming segment revenue was $1.7 billion, up 32% year-over-year driven by higher semi-custom product sales, partially offset by a decline in gaming graphics revenue. Operating income was $187 million, or 11% of revenue, compared to $175 million or 14% a year ago. Operating income improvement was primarily driven by higher revenue, partially offset by higher operating expenses. Operating margin was lower primarily due to lower graphics revenue and higher operating expenses.

  • Embedded segment revenue was $1.3 billion, up 2,228% year-over-year driven by the inclusion of Xilinx embedded revenue. Operating income was $641 million, or 51% of revenue, compared to $6 million or 11% a year ago. Operating income and margin improvement was primarily driven by the inclusion of Xilinx revenue.

  • All Other operating loss was $1.5 billion as compared to $92 million a year ago due to amortization of intangible assets largely associated with the Xilinx acquisition.

Recent PR Highlights

  • At its Financial Analyst Day, AMD detailed leadership roadmaps and an expanded product portfolio to deliver its next phase of growth across the estimated $300 billion market for high-performance and adaptive computing solutions, including:

    • New details on the “Zen 4” core architecture, expected to deliver significant performance and power efficiency improvements over the previous generation.

    • The “Zen 5” core planned for 2024, which is built from the ground up to extend performance and efficiency leadership across a broad range of workloads.

    • AMD CDNA™ 3 graphics architecture featuring 3D die stacking, 4th generation Infinity Architecture, next-generation AMD Infinity Cache™ technology and HBM memory in a single package to power what are expected to be the world’s first data center APUs, AMD Instinct™ MI300 accelerators.

    • AMD RDNA 3 next generation graphics architecture expected to deliver more than 50% greater performance-per-watt compared to the prior generation.

    • AMD XDNA technology, the foundational architecture IP from Xilinx that consists of key technologies including the FPGA fabric and AI Engine (AIE), which is planned to be integrated across the AMD product lineup starting with the “Zen 4”-architecture based “Phoenix Point” mobile processors planned for 2023.

    • An expanded data center CPU portfolio, including the first AMD EPYC processor optimized for intelligent edge and communications deployments, codenamed “Siena,” and the “Bergamo” processors, expected to be the highest performance server processors for cloud native computing at their launch planned for the first half of 2023.

  • AMD completed the acquisition of Pensando Systems in a transaction valued at approximately $1.9 billion to expand AMD’s data center product portfolio with a high-performance data processing unit (DPU) and software stack. Pensando DPUs are already deployed at scale across cloud and enterprise customers including Goldman Sachs, IBM Cloud, Microsoft Azure and Oracle Cloud.

  • The Frontier supercomputer, powered by AMD EPYC CPUs and AMD Instinct Accelerators, achieved number one spots on the latest TOP500, GREEN500 and HPL-AI performance lists, an industry first, and was the first supercomputer to surpass the exaflop barrier.

  • The HPC industry continues to show rapidly growing preference for AMD solutions, with a 95% year-over-year increase in the number of AMD-powered systems on the TOP500 list.

  • The cloud computing industry continues to show growing preference for AMD products.

    • As part of the Oracle Cloud VMware®  solution product offering, new Oracle Cloud Infrastructure E4 Dense instances leverage AMD EPYC processors to deliver ideal performance for hybrid cloud environments

    • Microsoft Azure is the first public cloud provider to deploy AMD Instinct MI200 accelerators for large scale AI training.

  • Canon selected the Versal™ AI Core series for the Canon Free Viewpoint Video System to power real-time AI processing at the edge, transforming live sports broadcasts.

  • AMD introduced the Versal Premium series with AI Engines, optimized for signal processing-intensive applications in the aerospace and defense and test and measurement markets.

  • AMD announced that its Xilinx® Zynq® UltraScale+™ RFSoC is enabling 4G/5G radio access network solutions to support the Meta Connectivity Evenstar Program.

  • At COMPUTEX 2022, AMD provided new details on the new Ryzen 7000 Series desktop processors, based on the 5nm “Zen 4” architecture, expected to launch this fall; the AMD Socket AM5 platform, providing advanced connectivity for the most demanding enthusiasts and gamers; and new “Mendocino” processors bringing together “Zen 2” cores and AMD RDNA 2 architecture-based graphics to deliver great everyday performance in notebooks, available from OEM partners starting in Q4 2022.

  • AMD announced the Radeon™ RX 6950 XT, RX 6750 XT and RX 6650 XT graphics cards, featuring faster game clocks, faster GDDR6 memory and enhanced software and firmware compared to previous-generation products.

Current Outlook

AMD’s outlook statements are based on current expectations. The following statements are forward-looking and actual results could differ materially depending on market conditions and the factors set forth under “Cautionary Statement” below.

For the third quarter of 2022, AMD expects revenue to be approximately $6.7 billion, plus or minus $200 million, an increase of approximately 55% year-over-year led by growth in the Data Center and Embedded segments. AMD expects non-GAAP gross margin to be approximately 54% in the third quarter of 2022.

For the full year 2022, AMD continues to expect revenue to be approximately $26.3 billion, plus or minus $300 million, an increase of approximately 60% over 2021 led by growth in the Data Center and Embedded segments. AMD continues to expect non-GAAP gross margin to be approximately 54% for 2022.

AMD Teleconference

AMD will hold a conference call for the financial community at 2:00 p.m. PT (5:00 p.m. ET) today to discuss its second quarter 2022 financial results. AMD will provide a real-time audio broadcast of the teleconference on the Investor Relations page of its website at www.amd.com.


RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

(in millions, except per share data) (Unaudited)

Three Months Ended

June 25,
2022

June 26,
2021

GAAP gross profit

$

3,028

$

1,830

GAAP gross margin %

46

%

48

%

Stock-based compensation

8

2

Acquisition-related costs (1)

95

Amortization of acquired intangible assets

407

Non-GAAP gross profit

$

3,538

$

1,832

Non-GAAP gross margin %

54

%

48

%

GAAP operating expenses

$

2,508

$

1,000

GAAP operating expenses/revenue %

38

%

26

%

Stock-based compensation

251

81

Acquisition-related costs (1)

79

10

Amortization of acquired intangible assets

616

Non-GAAP operating expenses

$

1,562

$

909

Non-GAAP operating expenses/revenue %

24

%

24

%

GAAP operating income

$

526

$

831

GAAP operating margin %

8

%

22

%

Stock-based compensation

259

83

Acquisition-related costs (1)

174

10

Amortization of acquired intangible assets

1,023

Non-GAAP operating income

$

1,982

$

924

Non-GAAP operating margin %

30

%

24

%

Three Months Ended

June 25,
2022

June 26,
2021

GAAP net income / earnings per share

$

447

$

0.27

$

710

$

0.58

Loss on debt redemption/conversion

1

(Gains) losses on equity investments, net

10

Stock-based compensation

259

0.16

83

0.06

Equity income in investee

(4

)

(2

)

Acquisition-related costs (1)

174

0.11

10

0.01

Amortization of acquired intangible assets

1,023

0.63

Income tax provision

(202

)

(0.12

)

(24

)

(0.02

)

Non-GAAP net income / earnings per share

$

1,707

$

1.05

$

778

$

0.63

(1

)

Acquisition-related costs primarily comprised of transaction costs, purchase price adjustments for inventory and certain compensation charges

About AMD

For more than 50 years AMD has driven innovation in high-performance computing, graphics and visualization technologies. AMD employees are focused on building leadership high-performance and adaptive products that push the boundaries of what is possible. Billions of people, leading Fortune 500 businesses and cutting-edge scientific research institutions around the world rely on AMD technology daily to Improve how they live, work and play. For more information about how AMD is enabling today and inspiring tomorrow, visit the AMD (NASDAQ: AMD) website, blog, Facebook and Twitter pages.

Cautionary Statement

This press release contains forward-looking statements concerning Advanced Micro Devices, Inc. (AMD) such as AMD’s expected growth in the back half of the year; the features, functionality, performance, availability, timing and expected benefits of AMD products; the estimated market for high-performance and adaptive computing solutions; and AMD’s expected third quarter 2022 and fiscal  2022 financial outlook, including revenue and non-GAAP gross margin and expected drivers based on current expectations, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as "would," "may," "expects," "believes," "plans," "intends," "projects" and other terms with similar meaning. Investors are cautioned that the forward-looking statements in this press release are based on current beliefs, assumptions and expectations, speak only as of the date of this press release and involve risks and uncertainties that could cause actual results to differ materially from current expectations. Such statements are subject to certain known and unknown risks and uncertainties, many of which are difficult to predict and generally beyond AMD's control, that could cause actual results and other future events to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Material factors that could cause actual results to differ materially from current expectations include, without limitation, the following: Intel Corporation’s dominance of the microprocessor market and its aggressive business practices; global economic uncertainty; loss of a significant customer; impact of the COVID-19 pandemic on AMD’s business, financial condition and results of operations; competitive markets in which AMD’s products are sold; market conditions of the industries in which AMD products are sold; cyclical nature of the semiconductor industry; quarterly and seasonal sales patterns; AMD's ability to adequately protect its technology or other intellectual property; unfavorable currency exchange rate fluctuations; ability of third party manufacturers to manufacture AMD's products on a timely basis in sufficient quantities and using competitive technologies; availability of essential equipment, materials, substrates or manufacturing processes; ability to achieve expected manufacturing yields for AMD’s products; AMD's ability to introduce products on a timely basis with expected features and performance levels; AMD's ability to generate revenue from its semi-custom SoC products; potential security vulnerabilities; potential security incidents including IT outages, data loss, data breaches and cyber-attacks; uncertainties involving the ordering and shipment of AMD’s products; AMD’s reliance on third-party intellectual property to design and introduce new products in a timely manner; AMD's reliance on third-party companies for design, manufacture and supply of motherboards, software and other computer platform components; AMD's reliance on Microsoft and other software vendors' support to design and develop software to run on AMD’s products; AMD’s reliance on third-party distributors and add-in-board partners; impact of modification or interruption of AMD’s internal business processes and information systems; compatibility of AMD’s products with some or all industry-standard software and hardware; costs related to defective products; efficiency of AMD's supply chain; AMD's ability to rely on third party supply-chain logistics functions; AMD’s ability to effectively control sales of its products on the gray market; impact of government actions and regulations such as export administration regulations, tariffs and trade protection measures; AMD’s ability to realize its deferred tax assets; potential tax liabilities; current and future claims and litigation; impact of environmental laws, conflict minerals-related provisions and other laws or regulations; impact of acquisitions, joint ventures and/or investments on AMD's business, and ability to integrate acquired businesses, such as Xilinx and Pensando;  impact of any impairment of the combined company’s assets on the combined company’s financial position and results of operation; restrictions imposed by agreements governing AMD’s notes, the guarantees of Xilinx’s notes and the revolving credit facility; AMD's indebtedness; AMD's ability to generate sufficient cash to meet its working capital requirements or generate sufficient revenue and operating cash flow to make all of its planned R&D or strategic investments; political, legal, economic risks and natural disasters; future impairments of goodwill and technology license purchases; AMD’s ability to attract and retain qualified personnel; AMD’s stock price volatility; and worldwide political conditions. Investors are urged to review in detail the risks and uncertainties in AMD’s Securities and Exchange Commission filings, including but not limited to AMD’s most recent reports on Forms 10-K and 10-Q.

(*)

In this earnings press release, in addition to GAAP financial results, AMD has provided non-GAAP financial measures including non-GAAP gross profit, non-GAAP operating expenses, non-GAAP operating income, non-GAAP net income, non-GAAP earnings per share. AMD uses a normalized tax rate in its computation of the non-GAAP income tax provision to provide better consistency across the reporting periods. For fiscal 2022, AMD uses a projected non-GAAP tax rate of 13%, which excludes the tax impact of pre-tax non-GAAP adjustments, reflecting currently available information. AMD also provided adjusted EBITDA and free cash flow as supplemental non-GAAP measures of its performance. These items are defined in the footnotes to the selected corporate data tables provided at the end of this earnings press release. AMD is providing these financial measures because it believes this non-GAAP presentation makes it easier for investors to compare its operating results for current and historical periods and also because AMD believes it assists investors in comparing AMD’s performance across reporting periods on a consistent basis by excluding items that it does not believe are indicative of its core operating performance and for the other reasons described in the footnotes to the selected data tables. The non-GAAP financial measures disclosed in this earnings press release should be viewed in addition to and not as a substitute for or superior to AMD’s reported results prepared in accordance with GAAP and should be read only in conjunction with AMD’s Consolidated Financial Statements prepared in accordance with GAAP. These non GAAP financial measures referenced are reconciled to their most directly comparable GAAP financial measures in the data tables at the end of this earnings press release. This earnings press release also contains forward-looking non-GAAP gross margin concerning AMD’s financial outlook, which is based on current expectations as of August 2, 2022 and assumptions and beliefs that involve numerous risks and uncertainties. AMD undertakes no intent or obligation to publicly update or revise its outlook statements as a result of new information, future events or otherwise, except as may be required by law.

AMD, the AMD Arrow logo, EPYC, Radeon, Ryzen, Threadripper, Versal and combinations thereof, are trademarks of Advanced Micro Devices, Inc.

Other names are for informational purposes only and used to identify companies and products and may be trademarks of their respective owner.

ADVANCED MICRO DEVICES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Millions except per share amounts and percentages) (Unaudited)

Three Months Ended

Six Months Ended

June 25,
2022

June 26,
2021

June 25,
2022

June 26,
2021

Net revenue

$

6,550

$

3,850

$

12,437

$

7,295

Cost of sales

3,115

2,020

5,998

3,878

Amortization of acquisition-related intangibles

407

593

Total cost of sales

3,522

2,020

6,591

3,878

Gross profit

3,028

1,830

5,846

3,417

Gross margin %

46

%

48

%

47

%

47

%

Research and development

1,300

659

2,360

1,269

Marketing, general and administrative

592

341

1,189

660

Amortization of acquisition-related intangibles

616

909

Licensing gain

(6

)

(1

)

(89

)

(5

)

Operating income

526

831

1,477

1,493

Interest expense

(25

)

(10

)

(38

)

(19

)

Other income (expense), net

(4

)

(46

)

(11

)

Income before income taxes and equity income

497

821

1,393

1,463

Income tax provision

54

113

167

202

Equity income in investee

4

2

7

4

Net income

$

447

$

710

$

1,233

$

1,265

Earnings per share

Basic

$

0.28

$

0.58

$

0.82

$

1.04

Diluted

$

0.27

$

0.58

$

0.81

$

1.03

Shares used in per share calculation

Basic

1,618

1,216

1,506

1,214

Diluted

1,632

1,232

1,521

1,231

ADVANCED MICRO DEVICES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(Millions)

June 25,
2022

December 25,
2021

(Unaudited)

ASSETS

Current assets:

Cash and cash equivalents

$

4,964

$

2,535

Short-term investments

1,028

1,073

Accounts receivable, net

4,050

2,706

Inventories

2,648

1,955

Receivables from related parties

3

2

Prepaid expenses and other current assets

769

312

Total current assets

13,462

8,583

Property and equipment, net

1,441

702

Operating lease right-of use assets

482

367

Goodwill

24,193

289

Acquisition-related intangibles, net

26,159

Investment: equity method

76

69

Deferred tax assets

32

931

Other non-current assets

1,657

1,478

Total Assets

$

67,502

$

12,419

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Accounts payable

$

1,518

$

1,321

Payables to related parties

361

85

Accrued liabilities

3,074

2,424

Short-term debt

312

312

Other current liabilities

258

98

Total current liabilities

5,523

4,240

Long-term debt, net

2,465

1

Long-term operating lease liabilities

422

348

Deferred tax liabilities

2,805

Other long-term liabilities

1,118

333

Stockholders' equity:

Capital stock:

Common stock, par value

16

12

Additional paid-in capital

57,297

11,069

Treasury stock, at cost

(1,893

)

(2,130

)

Accumulated deficit

(218

)

(1,451

)

Accumulated other comprehensive income

(33

)

(3

)

Total stockholders' equity

$

55,169

$

7,497

Total Liabilities and Stockholders' Equity

$

67,502

$

12,419

ADVANCED MICRO DEVICES, INC.
SELECTED CASH FLOW INFORMATION
(Millions) (Unaudited)

Three Months Ended

Six Months Ended

June 25,
2022

June 26,
2021

June 25,
2022

June 26,
2021

Net cash provided by (used in)

Operating activities

$

1,038

$

952

$

2,033

$

1,850

Investing activities

$

(928

)

$

119

$

2,230

$

(603

)

Financing activities

$

114

$

(211

)

$

(1,834

)

$

(219

)

SELECTED CORPORATE DATA
(Millions) (Unaudited)

Three Months Ended

Six Months Ended

June 25,
2022

June 26,
2021

June 25,
2022

June 26,
2021

Segment and Category Information(1)

Data Center

Net revenue

$

1,486

$

813

$

2,779

$

1,423

Operating income

$

472

$

204

$

899

$

314

Client

Net revenue

$

2,152

$

1,728

$

4,276

$

3,366

Operating income

$

676

$

538

$

1,368

$

1,068

Gaming

Net revenue

$

1,655

$

1,255

$

3,530

$

2,410

Operating income

$

187

$

175

$

545

$

296

Embedded

Net revenue

$

1,257

$

54

$

1,852

$

96

Operating income

$

641

$

6

$

918

$

3

All Other

Net revenue

$

$

$

$

Operating loss

$

(1,450

)

$

(92

)

$

(2,253

)

$

(188

)

Total

Net revenue

$

6,550

$

3,850

$

12,437

$

7,295

Operating income

$

526

$

831

$

1,477

$

1,493

Other Data

Capital expenditures

$

132

$

64

$

203

$

130

Adjusted EBITDA (2)

$

2,139

$

1,021

$

4,106

$

1,878

Cash, cash equivalents and short-term investments

$

5,992

$

3,793

$

5,992

$

3,793

Free cash flow (3)

$

906

$

888

$

1,830

$

1,720

Total assets

$

67,502

$

10,691

$

67,502

$

10,691

Total debt

$

2,777

$

313

$

2,777

$

313

(1

)

The Data Center segment primarily includes server microprocessors, GPUs, data processing units (DPUs), Field Programmable Gate Arrays (FPGAs) and adaptive SoC products for data centers.

The Client segment primarily includes microprocessors, accelerated processing units (APUs) that integrate microprocessors and graphics, and chipsets for desktop and notebook personal computers.

The Gaming segment primarily includes discrete graphics processing units (GPUs), semi-custom System-on-Chip (SoC) products and development services.

The Embedded segment primarily includes embedded microprocessors, GPUs, FPGAs, adaptive SoC products, and Adaptive Compute Acceleration Platform (ACAP) products.

From time to time, the Company may also sell or license portions of its IP portfolio.

All Other category primarily includes certain expenses and credits that are not allocated to any of the operating segments. Also included in this category are acquisition-related intangible asset amortization expense, stock-based compensation expense, acquisition-related costs and licensing gain.

(2

)

Reconciliation of GAAP Net Income to Adjusted EBITDA

Three Months Ended

Six Months Ended

June 25,
2022

June 26,
2021

June 25,
2022

June 26,
2021

GAAP net income

$

447

$

710

$

1,233

$

1,265

Interest expense

25

10

38

19

Other (income) expense, net

4

46

11

Income tax provision

54

113

167

202

Equity income in investee

(4

)

(2

)

(7

)

(4

)

Stock-based compensation

259

83

433

168

Depreciation and amortization

157

97

287

192

Amortization of acquired intangible assets

1,023

1,502

Acquisition-related costs

174

10

407

25

Adjusted EBITDA

$

2,139

$

1,021

$

4,106

$

1,878

The Company presents “Adjusted EBITDA” as a supplemental measure of its performance. Adjusted EBITDA for the Company is determined by adjusting GAAP net income for interest expense, other income (expense), net, income tax provision, equity income in investee, stock-based compensation, depreciation and amortization expense and acquisition-related costs. The Company also included amortization of acquired intangible assets for the three months and six months ended June 25, 2022. The Company calculates and presents Adjusted EBITDA because management believes it is of importance to investors and lenders in relation to its overall capital structure and its ability to borrow additional funds. In addition, the Company presents Adjusted EBITDA because it believes this measure assists investors in comparing its performance across reporting periods on a consistent basis by excluding items that the Company does not believe are indicative of its core operating performance. The Company’s calculation of Adjusted EBITDA may or may not be consistent with the calculation of this measure by other companies in the same industry. Investors should not view Adjusted EBITDA as an alternative to the GAAP operating measure of income or GAAP liquidity measures of cash flows from operating, investing and financing activities. In addition, Adjusted EBITDA does not take into account changes in certain assets and liabilities that can affect cash flows.

(3

)

Reconciliation of GAAP Net Cash Provided by Operating Activities to Free Cash Flow

Three Months Ended

Six Months Ended

June 25, 2022

June 26, 2021

June 25, 2022

June 26, 2021

GAAP net cash provided by operating activities

$

1,038

$

952

$

2,033

$

1,850

Operating cash flow margin %

16

%

25

%

16

%

25

%

Purchases of property and equipment

$

(132

)

$

(64

)

$

(203

)

$

(130

)

Free cash flow

$

906

$

888

$

1,830

$

1,720

Free cash flow margin %

14

%

23

%

15

%

24

%

The Company also presents free cash flow as a supplemental Non-GAAP measure of its performance. Free cash flow is determined by adjusting GAAP net cash provided by operating activities for capital expenditures. The Company calculates and communicates free cash flow in the financial earnings press release because management believes it is of importance to investors to understand the nature of these cash flows. The Company’s calculation of free cash flow may or may not be consistent with the calculation of this measure by other companies in the same industry. Investors should not view free cash flow as an alternative to GAAP liquidity measures of cash flows from operating activities. The Company has provided reconciliations within the earnings press release of these Non-GAAP financial measures to the most directly comparable GAAP financial measures.

Media Contact:
Drew Prairie
AMD Communications
512-602-4425
drew.prairie@amd.com

Investor Contact:
Laura Graves
AMD Investor Relations
408-749-5467
laura.graves@amd.com

Tue, 02 Aug 2022 08:05:00 -0500 en-NZ text/html https://nz.finance.yahoo.com/news/amd-reports-second-quarter-2022-200500713.html
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