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Can tea prevent cancer and improve overall health?

Can tea prevent cancer and improve overall health?

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Drinking tea may improve heart and brain health, immune function, and reduces cancer risk, a study found. BONNINSTUDIO/Stocksy
  • During a recent symposium on the health benefits of tea, researchers from across the globe shared evidence suggesting that tea consumption may improve cardiovascular health, immune function, cognitive health, and reduce the risk of cancer.
  • The researchers noted that better quality evidence is needed to further establish these beneficial effects of tea consumption, including larger cohort studies and randomized clinical trials.
  • The researchers advocated that people incorporate 2-4 cups of unsweetened tea into the daily diet as a source of flavonoids, which are responsible to a large extent for these beneficial effects.

Leading scientists in the field of tea research recently met virtually at the Sixth International Scientific Symposium on Tea and Human Health to discuss the current state of knowledge and the gaps in understanding about the benefits of tea. Researchers discussed many topics at the symposium, which included the potential beneficial effects of tea on cardiovascular health, cognitive function, and the prevention of cancer.

The conference was organized by the Tea Council of the USA, the public relations arm of the Tea industry whose primary aim is to encourage greater tea consumption. It accomplishes this by furthering tea science and “establishing tea as a healthy, good for you beverage.”

Here is a breakdown of the main findings, and why it may be too early to draw definitive conclusions.

Tea is the second most consumed beverage in the world, after water. The four primary types of tea include white, green, Oolong, and black. All four teas are derived from the same plant, Camellia sinensis, but differ in how they are processed after harvesting.

Tea contains a wide array of components that have biological activity, including flavonoids, L-theanine, and caffeine. Many of the beneficial effects of tea are due to the high levels of flavonoids, such as catechins, which have antioxidative and anti-inflammatory properties.

The differences in the manufacturing process can influence the chemical composition and the beneficial effects of the different tea types. For instance, green tea is roasted before it can oxidize and hence, contains higher levels of catechins. In contrast, black tea is allowed to oxidize and has lower levels of catechins. Meanwhile, black tea contains larger amounts of other flavonoids called thearubigins and theaflavins, which also possess antioxidant properties.

A number of observational studies suggest that tea consumption is associated with improvements in cognitive function. A few small randomized controlled trials have suggested tea intake may result in short-term improvements in attention.

Each cup of tea contains about 35-60 mg of caffeine, which may contribute to the increase in attention and improvements in mood some people experience after consuming tea. Tea also contains theanine, which has been suggested to enhance attention while reducing anxiety and stress.

Researchers think that the presence of theanine and caffeine may potentially produce a simultaneous feeling of calmness while improving attention. In addition, limited evidence suggests that the intake of theanine and caffeine together may result in a greater increase in attention than either component alone.

The flavonoids present in tea may also exert protective effects against common age-related cognitive decline and dementia. Dr. Jonathan Hodgson, a professor at the University of Western Australia, told Medical News Today:

“Several recent large long-term prospective cohort studies have explored the relationships of tea intake and intake of flavonoids found in tea with dementia outcomes. The two main types of dementia are Alzheimer’s disease and vascular dementia. Flavonoids are components of tea that are believed to play an important role in the prevention of vascular diseases.”

“[S]tudies have shown that higher intakes of tea, starting at as little as 1 cup and up to 5-6 cups [a day], are associated with reduced risk for dementia, moderate intakes of flavonoids present in ~2-4 cups of tea are associated with reduced risk for dementia, and for both tea and its flavonoids, maximal benefit may be obtained from moderate intakes of ~2-4 cups[ a day].”
— Dr. Jonathan Hodgson

However, Dr. Hodgson said high intakes may not be needed to see tea’s full benefits.

“Finally, these studies indicate that the protection provided may be strongest for vascular dementia,” he added.

A higher intake of dietary flavonoids is associated with a lower risk of cardiovascular diseases and metabolic conditions, including diabetes.

According to a meta-analysis synthesizing data from 39 studies, the daily intake of each additional cup of tea was associated with a 2{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} lower risk of a cardiovascular event, a 4{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} decline in the risk of stroke, and a 4{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} lower risk of mortality due to cardiovascular disease. These positive effects of flavonoids on cardiometabolic health are associated with lower inflammation and oxidative stress, improved regulation of blood glucose and lipid levels, healthier gut microbiome, and protective effects on blood vessels.

Thus, consumption of tea could be especially beneficial for individuals whose diets are deficient in other sources of flavonoids, including whole grains, fruits, and vegetables.

Dr. Taylor Wallace, a professor in the Department of Nutrition and Food Studies at George Mason University, says, “Adding two cups of unsweet tea to the diet can be a simple and cost-effective [preventive] healthcare approach for cardiovascular diseases.”

After cardiovascular disease, cancer is the second leading cause of mortality. Modifying lifestyle factors such as diet, physical inactivity, smoking, and obesity can prevent 30-40{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} of all cancers.

Thus, adopting healthier lifestyle choices that increase levels of flavonoids could reduce the risk of cancer incidence, although the evidence for tea reducing cancer remains limited.

Commenting on the evidence, Dr. Raul Zamora-Ros, a professor at IDIBELL Bellvitge Biomedical Research Institute, told MNT:

“There is a lot of plausible preclinical evidence showing anticarcinogenic properties of tea, and mainly its bioactive compounds (flavonoids), against cancer initiation promotion and progression.”

However, he pointed out that more research was needed to confirm these benefits in humans.

“In humans, there is limited-suggestive evidence showing that tea consumption may reduce the risk of biliary tract, breast, endometrial, liver, and especially, oral cancer. The evidence for the rest of cancer sites is still inconclusive,” he said.

Dr. Zamora-Ros noted that larger observational studies and clinical trials are needed to further assess the association between tea consumption and cancer incidence. Moreover, some of the studies have not distinguished between the effects of green and black tea, and future studies must address this shortcoming.

Tea consumption may also improve immune health, with studies suggesting a potential role of green tea in preventing bacterial and viral infections. For instance, a number of human studies, including randomized controlled trials, suggest that green tea consumption could reduce the risk of incidence of influenza infection.

Dr. Dayong Wu, a professor at Tufts University, Massachusetts, said the health benefits of consuming tea on the immune system fell into two categories.

“First is the protective effect against infection. Current research shows that tea/tea catechins may directly act on a variety of viruses and bacteria to prohibit them from attaching to and thus blocking their entry into the host tissues, inhibit their replication, and limit their spread. Tea/tea catechins may also enhance the anti-pathogen response of the host immune cells to help fight pathogens and clear the infection,” he explained.

Second, the antioxidant and anti-inflammatory properties of green tea may also help prevent tissue damage caused by excessive inflammation in response to an infection. Given its anti-inflammatory properties, green tea could also help alleviate symptoms of autoimmune diseases, such as inflammatory bowel disease and rheumatoid arthritis.

“Autoimmune disease represents a disrupted immune balance, and it is characterized by immune cells of a host attacking its own tissues. Tea/tea catechins have been shown to modulate complex immune cell function in a way to help correct this disorder, perhaps by suppressing overactive response and promoting tolerance,” Dr. Wu elaborated.

However, he also cautioned that most of these results are based on cell culture and animal studies, and more studies assessing the impact of green tea on immune function in humans are needed.

The studies discussed at the symposium suggest that tea consumption is associated with a multitude of health benefits. However, before changes are made to dietary guidelines, more research may be needed on individual compounds within tea to negate the negative effects.

Addressing some of the key areas of future research in tea science, Dr. Johanna Dwyer, a professor of medicine and senior scientist at Tufts University, said, she believes “it would be profitable [..] to pin down the continuing puzzle of why it is that some green tea supplements seem to be associated with liver toxicity and what compounds are responsible for these effects.”

Tea has also been associated with side effects such as reduced iron absorption as well as increased anxiety, and restlessness, largely owing to the caffeine it contains.

Experts point out that there are caffeine-free ways to consume the beneficial flavonoids present in tea, such as by eating vegetables and fruits, which also contain fiber.

“On a more basic level, it is still important to study the health-related properties of the various compounds in tea,” added Dr. Dwyer.

There is growing research examining the health benefits of green tea extracts enriched in flavonoids and other components.

The role of beverages in diet

Dr. Mario Ferruzzi, professor and chief of the section of Developmental Nutrition in the Department of Pediatrics at the University of Arkansas for Medical Sciences, touched on tea’s place in current dietary guidelines.

“Currently, dietary bioactive compounds like flavan-3-ols are not part of food-based dietary guidance. Polyphenols make up 30 to 40 percent of the solids in a cup of green and black tea. The dietary guidelines have mentioned phytochemicals as a beneficial part of fruit and vegetables, but not beverages.”

To rectify these shortcomings, Dr. Feruzzi noted that current guidelines on healthy beverages need to be expanded to include tea and coffee as a source of bioactive components, such as flavonoids.

Moreover, dietary guidelines should include an adequate intake value for dietary flavonoids to ensure sufficient intake of these nutrients that can help reduce the risk of chronic diseases.

Dr. Feruzzi cautioned that ready-to-drink products tend to have lower levels of flavonoids, and hence, consumers should favor brewed tea over these products.

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AMD Reports First Quarter 2022 Financial Results

AMD Reports First Quarter 2022 Financial Results

― Record quarterly revenue of $5.9 billion grew 71{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} year-over-year; Gross margin grew 2 percentage points and non-GAAP gross margin grew 7 percentage points year-over-year ―

SANTA CLARA, Calif., May 03, 2022 (GLOBE NEWSWIRE) — AMD (NASDAQ:AMD) today announced revenue for the first quarter of 2022 of $5.9 billion, gross margin of 48{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}, operating income of $951 million, operating margin of 16{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}, net income of $786 million and diluted earnings per share of $0.56. On a non-GAAP(*) basis, gross margin was 53{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}, operating income was $1.8 billion, net income was $1.6 billion and diluted earnings per share was $1.13. First quarter 2022 results include partial quarter financial results from the recently completed acquisition of Xilinx which closed February 14, 2022.

Excluding Xilinx, AMD had record quarterly revenue of $5.3 billion, non-GAAP gross margin of 51{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} and non-GAAP operating margin of 30{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}.
“The first quarter marked a significant inflection point in our journey to scale and transform AMD as we delivered record revenue and closed our strategic acquisition of Xilinx,” said AMD Chair and CEO Dr. Lisa Su. “Each of our businesses grew by a significant double digit percentage year-over-year, led by EPYC server processor revenue more than doubling for the third straight quarter. Demand remains strong for our leadership products, with our increased full-year guidance reflecting higher AMD organic growth and the addition of the growing Xilinx business.”

GAAP Quarterly Financial Results

Q1 2022

Q1 2021

Y/Y

Q4 2021

Q/Q

Revenue ($M)

$5,887

$3,445

Up 71{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

$4,826

Up 22{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Gross profit ($M)

$2,818

$1,587

Up 78{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

$2,426

Up 16{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Gross margin {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

48{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

46{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Up 190 bps

50{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Down 240 bps

Operating expenses ($M)

$1,950

$929

Up 110{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

$1,223

Up 59{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Operating income ($M)

$951

$662

Up 44{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

$1,207

Down 21{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Operating margin {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

16{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

19{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Down 3pp

25{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Down 9pp

Net income ($M)

$786

$555

Up 42{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

$974

Down 19{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Earnings per share

$0.56

$0.45

Up 24{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

$0.80

Down 30{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Non-GAAP(*) Quarterly Financial Results

Q1 2022

Q1 2021

Y/Y

Q4 2021

Q/Q

Revenue ($M)

$5,887

$3,445

Up 71{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

$4,826

Up 22{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Gross profit ($M)

$3,100

$1,588

Up 95{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

$2,427

Up 28{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Gross margin {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

53{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

46{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Up 660 bps

50{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Up 240 bps

Operating expenses ($M)

$1,346

$830

Up 62{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

$1,103

Up 22{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Operating income ($M)

$1,837

$762

Up 141{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

$1,328

Up 38{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Operating margin {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

31{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

22{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Up 9pp

27{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Up 4pp

Net income ($M)

$1,589

$642

Up 148{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

$1,122

Up 42{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Earnings per share

$1.13

$0.52

Up 117{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

$0.92

Up 23{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Non-GAAP(*) Quarterly Financial Results (Excluding Xilinx)

Q1 2022

Q1 2021

Y/Y

Q4 2021

Q/Q

Revenue ($M)

$5,328

$3,445

Up 55{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

$4,826

Up 10{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Gross profit ($M)

$2,712

$1,588

Up 71{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

$2,427

Up 12{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Gross margin {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

51{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

46{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Up 480 bps

50{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Up 60 bps

Operating income ($M)

$1,604

$762

Up 110{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

$1,328

Up 21{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Operating margin {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

30{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

22{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Up 8pp

27{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Up 3pp

Q1 2022 Results

  • Revenue of $5.9 billion was up 71{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} year-over-year and 22{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} quarter-over-quarter driven by higher revenue in the Computing and Graphics and Enterprise, Embedded and Semi-Custom segments and the inclusion of Xilinx revenue.

  • Gross margin was 48{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}, an increase of 2 percentage points year-over-year and a decrease of 2 percentage points quarter-over-quarter. The year-over-year increase was primarily driven by higher server processor revenue and high margin Xilinx revenue, partially offset by amortization of intangible assets and acquisition-related costs. The quarter-over-quarter decrease was primarily due to amortization of intangible assets and acquisition-related costs.

  • Non-GAAP gross margin was 53{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}, an increase of 7 percentage points year-over-year and 3 percentage points quarter-over-quarter. The year-over-year increase was primarily driven by higher server processor revenue and high margin Xilinx revenue. The quarter-over-quarter increase was primarily driven by high margin Xilinx revenue, higher server processor revenue and richer client product mix.

  • Operating income was $951 million compared to $662 million a year ago and $1.2 billion in the prior quarter. The year-over-year increase was primarily driven by higher revenue and gross profit, partially offset by amortization of intangible assets and acquisition-related costs. The quarter-over-quarter decrease was primarily due to amortization of intangible assets and acquisition-related costs.

  • Record non-GAAP operating income was $1.8 billion compared to $762 million a year ago and $1.3 billion in the prior quarter. The year-over-year and quarter-over-quarter increases were primarily driven by higher gross profit.

  • Net income was $786 million compared to $555 million a year ago and $974 million in the prior quarter. The year-over-year increase was primarily driven by higher operating income. The quarter-over-quarter decrease was primarily due to lower operating income related to amortization of intangible assets and acquisition-related costs.

  • Record non-GAAP net income was $1.6 billion compared to $642 million a year ago and $1.1 billion in the prior quarter. The year-over-year and quarter-over-quarter increases were primarily driven by higher operating income.

  • Diluted earnings per share was $0.56 compared to $0.45 a year ago and $0.80 in the prior quarter. Record non-GAAP diluted earnings per share was $1.13 compared to $0.52 a year ago and $0.92 in the prior quarter.

  • Cash, cash equivalents and short-term investments were $6.5 billion at the end of the quarter. The company repurchased $1.9 billion of common stock during the quarter.

  • Record cash from operations was $995 million in the quarter compared to $898 million a year ago and $822 million in the prior quarter. Record free cash flow was $924 million in the quarter compared to $832 million a year ago and $736 million in the prior quarter.

  • AMD’s balance sheet reflects $49.6 billion of goodwill and acquisition-related intangible assets associated with the acquisition of Xilinx.

Quarterly Financial Segment Summary

  • Record Computing and Graphics segment revenue was $2.8 billion, up 33{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} year-over-year and 8{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} quarter-over-quarter. The year-over-year increase was driven by Ryzen™ and Radeon™ processor sales. The quarter-over-quarter increase was driven by Ryzen™ processor sales.

    • Client processor average selling price (ASP) increased year-over-year and quarter-over-quarter driven by a richer mix of Ryzen processor sales.

    • GPU ASP increased year-over-year driven by high end Radeon processor sales and decreased quarter-over-quarter due to a lower mix of data center GPU revenue.

    • Record operating income was $723 million compared to $485 million a year ago and $566 million in the prior quarter. Operating income improvements were primarily driven by higher revenue, partially offset by higher operating expenses.

  • Record Enterprise, Embedded and Semi-Custom segment revenue was $2.5 billion, up 88{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} year-over-year and 13{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} quarter-over-quarter driven by higher EPYC™ processor revenue, semi-custom and embedded product sales.

  • Xilinx partial quarter revenue was $559 million with operating income of $233 million. On a pro-forma basis for the full quarter, Xilinx generated over $1 billion of revenue, up 22{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} year-over-year, driven by growth across all Xilinx major end market categories.

  • All Other operating loss was $886 million as compared to operating losses of $100 million a year ago and $121 million in the prior quarter. Higher operating loss was primarily due to amortization of intangible assets and acquisition-related costs.

Recent PR Highlights

  • AMD completed the largest acquisition in the history of the semiconductor industry by acquiring Xilinx to create the industry’s high-performance and adaptive computing leader with significantly expanded scale and the strongest portfolio of leadership computing, graphics and adaptive SoC products.

  • AMD announced a definitive agreement to acquire Pensando for approximately $1.9 billion before working capital and other adjustments. Pensando’s distributed services platform will expand AMD’s data center product portfolio with a high-performance data center processing unit (DPU) and software stack that are already deployed at scale across cloud and enterprise customers including Goldman Sachs, IBM Cloud, Microsoft Azure and Oracle Cloud.

  • AMD announced the general availability of 3rd Gen AMD EPYC processors with AMD 3D V-Cache™ technology, delivering leadership performance in technical computing workloads, the industry’s largest L3 cache and modern security features.

  • Cloud customers continued to expand their AMD EPYC processor-powered offerings, with 465 cloud instances now delivering powerful performance for today’s most important workloads.

  • AMD expanded its lineup of high-performance AMD Ryzen desktop processors for gamers and creators.

    • AMD announced the Ryzen 7 5800X3D processor, the first Ryzen processor to feature AMD 3D V-Cache technology and the industry’s first x86 PC processor with 3D stacked chiplets. The Ryzen 7 5800X3D processor delivers leadership gaming performance in select titles compared to the competitive processor without stacked cache technology.

    • Lenovo expanded its line of ThinkStation P620 workstations with the new Ryzen Threadripper™ PRO 5000 WX-Series processors, which bring dominant, full-spectrum performance leadership for the most demanding professional workloads.

    • AMD also expanded the Ryzen desktop processor portfolio with six new “Zen 3” and “Zen 2” processors, giving PC enthusiasts even more options to create a customized gaming experience.

  • AMD expanded the Versal product lineup with first customer shipments of the flagship Versal HBM adaptive SoC with integrated HBM2e memory and Versal Premium product series with AI Engines optimized for signal processing-intensive applications like next-generation radar and wireless system and device testing.

  • AMD announced that its board of directors approved a new $8 billion share repurchase program. This program is in addition to the $4 billion share repurchase program announced last year.

  • AMD entered into a $3 billion sustainability-linked credit facility to replace its existing $500 million revolving credit facility and reinforces commitment to the company’s environmental, social and governance (ESG) goals.

  • AMD announced that its board of directors elected President and CEO Dr. Lisa Su as the chair of the board and John E. Caldwell as lead independent director. Former Xilinx board members Jon Olson and Elizabeth Vanderslice also joined the AMD board in conjunction with the acquisition of Xilinx.

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 second quarter of 2022, AMD expects revenue to be approximately $6.5 billion, plus or minus $200 million, an increase of approximately 69{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} year-over-year and approximately 10{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} quarter-over-quarter. The year-over-year increase is expected to be driven by the addition of Xilinx and higher server, semi-custom and client revenue. The quarter-over-quarter increase is expected to be primarily driven by Xilinx and higher server revenue. AMD expects non-GAAP gross margin to be approximately 54{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} in the second quarter of 2022.

For the full year 2022, AMD now expects revenue to be approximately $26.3 billion, an increase of approximately 60{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} over 2021, up from prior guidance of approximately 31{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}, driven by the addition of Xilinx and higher server and semi-custom revenue. AMD expects non-GAAP gross margin to be approximately 54{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} for 2022, up from prior guidance of approximately 51{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}.

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 first 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

March 26,
2022

December 25,
2021

March 27,
2021

GAAP gross profit

$

2,818

$

2,426

$

1,587

GAAP gross margin {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

48

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

50

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

46

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Stock-based compensation

4

1

1

Acquisition-related costs (1)

92

—

—

Amortization of acquired intangible assets

186

—

—

Non-GAAP gross profit

$

3,100

$

2,427

$

1,588

Non-GAAP gross margin {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

53

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

50

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

46

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

GAAP operating expenses

$

1,950

$

1,223

$

929

GAAP operating expenses/revenue {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

33

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

25

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

27

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Stock-based compensation

170

111

84

Acquisition-related costs (1)

141

9

15

Amortization of acquired intangible assets

293

—

—

Non-GAAP operating expenses

$

1,346

$

1,103

$

830

Non-GAAP operating expenses/revenue {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

23

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

23

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

24

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

GAAP operating income

$

951

$

1,207

$

662

GAAP operating margin {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

16

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

25

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

19

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Stock-based compensation

174

112

85

Acquisition-related costs (1)

233

9

15

Amortization of acquired intangible assets

479

—

—

Non-GAAP operating income

$

1,837

$

1,328

$

762

Non-GAAP operating margin {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

31

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

27

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

22

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Three Months Ended

March 26,
2022

December 25,
2021

March 27,
2021

GAAP net income / earnings per share

$

786

$

0.56

$

974

$

0.80

$

555

$

0.45

Loss on debt redemption/conversion

—

—

—

—

6

0.01

(Gains) losses on equity investments, net

44

0.03

(4

)

—

8

0.01

Stock-based compensation

174

0.12

112

0.09

85

0.07

Equity income in investee

(3

)

—

—

—

(2

)

—

Acquisition-related costs (1)

233

0.17

9

—

15

0.01

Amortization of acquired intangible assets

479

0.34

—

—

—

—

Income tax provision

(124

)

(0.09

)

31

0.03

(25

)

(0.03

)

Non-GAAP net income / earnings per share

$

1,589

$

1.13

$

1,122

$

0.92

$

642

$

0.52

(1

)

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

RECONCILIATION OF AMD GAAP TO AMD NON-GAAP EXCLUDING XILINX
(in millions) (Unaudited)

Three Months Ended March 26, 2022

Revenue

Gross
Profit

Gross
Margin {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Operating
Income

Operating
Margin {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

AMD GAAP

$

5,887

$

2,818

48{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

$

951

16{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Stock-based compensation

—

4

174

Acquisition-related costs (1)

—

92

233

Amortization of acquired intangible assets

—

186

479

AMD Non-GAAP

5,887

3,100

53{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

1,837

31{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Xilinx segment

559

388

233

AMD Non-GAAP Excluding Xilinx

$

5,328

$

2,712

51{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

$

1,604

30{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

(1

)

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

RECONCILIATION OF XILINX SEGMENT REVENUE TO XILINX PRO FORMA REVENUE
(in millions) (Unaudited)

Three Months Ended
March 26, 2022

Revenue

Xilinx Segment (1)

$

559

Xilinx Pre-Acquisition (2)

477

Xilinx Pro Forma (3)

$

1,036

(1

)

Represents unaudited Xilinx revenue from the date of acquisition, February 14, 2022, through March 26, 2022

(2

)

Represents unaudited Xilinx revenue from January 2, 2022 to February 13, 2022

(3

)

The unaudited Xilinx pro forma revenue represents the three-month period beginning January 2, 2022 through March 26, 2022. The pro forma revenue is presented for informational purposes only.

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 expectations regarding demand for its products, AMD organic growth and Xilinx business growth; the features, functionality, performance, availability, timing and expected benefits of AMD products; AMD’s planned acquisition of Pensando Systems Inc. and the anticipated benefits from the acquisition; AMD’s expected second quarter 2022 and fiscal 2022 financial outlook, including revenue and non-GAAP gross margin and expected drivers based on current expectations; and expected growth in 2022, 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 of AMD to integrate acquired businesses, such as Xilinx; 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{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}, 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. In addition, AMD provided non-GAAP financial measures excluding Xilinx, including revenue, gross profit and operating income, and Xilinx pro forma revenue for the three months ended March 26, 2022 as supplemental information. 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 May 3, 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

March 26,
2022

December 25,
2021

March 27,
2021

Net revenue

$

5,887

$

4,826

$

3,445

Cost of sales

2,883

2,400

1,858

Amortization of acquisition-related intangibles

186

—

—

Total cost of sales

3,069

2,400

1,858

Gross profit

2,818

2,426

1,587

Gross margin {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

48

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

50

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

46

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Research and development

1,060

811

610

Marketing, general and administrative

597

412

319

Amortization of acquisition-related intangibles

293

—

—

Licensing gain

(83

)

(4

)

(4

)

Operating income

951

1,207

662

Interest expense

(13

)

(8

)

(9

)

Other income (expense), net

(42

)

4

(11

)

Income before income taxes and equity income

896

1,203

642

Income tax provision

113

229

89

Equity income in investee

3

—

2

Net income

$

786

$

974

$

555

Earnings per share

Basic

$

0.56

$

0.81

$

0.46

Diluted

$

0.56

$

0.80

$

0.45

Shares used in per share calculation

Basic

1,393

1,208

1,213

Diluted

1,410

1,222

1,231


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

March 26,
2022

December 25,
2021

(Unaudited)

ASSETS

Current assets:

Cash and cash equivalents

$

4,740

$

2,535

Short-term investments

1,792

1,073

Accounts receivable, net

3,677

2,706

Inventories

2,431

1,955

Receivables from related parties

4

2

Prepaid expenses and other current assets

725

312

Total current assets

13,369

8,583

Property and equipment, net

1,406

702

Operating lease right-of use assets

416

367

Goodwill

23,083

289

Acquisition-related intangibles, net

26,832

—

Investment: equity method

72

69

Deferred tax assets

32

931

Other non-current assets

1,705

1,478

Total Assets

$

66,915

$

12,419

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current liabilities:

Accounts payable

$

1,476

$

1,321

Payables to related parties

205

85

Accrued liabilities

3,070

2,424

Short-term debt

312

312

Other current liabilities

518

98

Total current liabilities

5,581

4,240

Long-term debt, net

1,475

1

Long-term operating lease liabilities

370

348

Deferred tax liabilities

3,109

—

Other long-term liabilities

1,047

333

Stockholders’ equity:

Capital stock:

Common stock, par value

16

12

Additional paid-in capital

56,925

11,069

Treasury stock, at cost

(941

)

(2,130

)

Accumulated deficit (1)

(665

)

(1,451

)

Accumulated other comprehensive income

(2

)

(3

)

Total stockholders’ equity

$

55,333

$

7,497

Total Liabilities and Stockholders’ Equity

$

66,915

$

12,419

(1)

During the first quarter of 2021, the Company adopted ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes, using the modified retrospective adoption method, which resulted in $8 million of deferred tax liability associated with book-tax differences in a foreign equity method investment recognized in Accumulated deficit.

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

Three Months Ended

March 26,
2022

December 25,
2021

March 27,
2021

Net cash provided by (used in)

Operating activities

$

995

$

822

$

898

Investing activities

$

3,158

$

—

$

(722

)

Financing activities

$

(1,948

)

$

(727

)

$

(8

)


SELECTED CORPORATE DATA
(Millions) (Unaudited)

Three Months Ended

March 26,
2022

December 25,
2021

March 27,
2021

Segment and Category Information (1)

Computing and Graphics

Net revenue

$

2,802

$

2,584

$

2,100

Operating income

$

723

$

566

$

485

Enterprise, Embedded and Semi-Custom

Net revenue

$

2,526

$

2,242

$

1,345

Operating income

$

881

$

762

$

277

Xilinx

Net revenue

$

559

$

—

$

—

Operating income

$

233

$

—

$

—

All Other

Net revenue

$

—

$

—

$

—

Operating loss

$

(886

)

$

(121

)

$

(100

)

Total

Net revenue

$

5,887

$

4,826

$

3,445

Operating income

$

951

$

1,207

$

662

Other Data

Capital expenditures

$

71

$

86

$

66

Adjusted EBITDA (2)

$

1,967

$

1,446

$

857

Cash, cash equivalents and short-term investments

$

6,532

$

3,608

$

3,116

Free cash flow (3)

$

924

$

736

$

832

Total assets

$

66,915

$

12,419

$

10,047

Total debt

$

1,787

$

313

$

313

(1)

The Computing and Graphics segment primarily includes desktop and notebook processors and chipsets, discrete and integrated graphics processing units (GPUs), data center and professional GPUs and development services.

The Enterprise, Embedded and Semi-Custom segment primarily includes server and embedded processors, semi-custom System-on-Chip (SoC) products, development services and technology for game consoles.

The Xilinx segment primarily includes Field Programmable Gate Arrays (FPGAs), adaptive System-on-Chips (SoCs), 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 and acquisition-related costs.

(2)

Reconciliation of GAAP Net Income to Adjusted EBITDA

Three Months Ended

March 26,
2022

December 25,
2021

March 27,
2021

GAAP net income

$

786

$

974

$

555

Interest expense

13

8

9

Other (income) expense, net

42

(4

)

11

Income tax provision

113

229

89

Equity income in investee

(3

)

—

(2

)

Stock-based compensation

174

112

85

Depreciation and amortization

130

118

95

Amortization of acquired intangible assets

479

—

—

Acquisition-related costs

233

9

15

Adjusted EBITDA

$

1,967

$

1,446

$

857

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 ended March 26, 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. The Company has provided reconciliations within the earnings press release of these Non-GAAP financial measures to the most directly comparable GAAP financial measures.

(3)

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

Three Months Ended

March 26,
2022

December 25,
2021

March 27,
2021

GAAP net cash provided by operating activities

$

995

$

822

$

898

Operating cash flow margin {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

17

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

17

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

26

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

Purchases of property and equipment

(71

)

(86

)

(66

)

Free cash flow

$

924

$

736

$

832

Free cash flow margin {cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

16

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

15

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

24

{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}

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

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Nutson’s Weekly Auto News Wrap-up Week Ending April 30 2022

Nutson’s Weekly Auto News Wrap-up Week Ending April 30 2022


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AUTO CENTRAL CHICAGO – May 1, 2022; Every Sunday Larry Nutson, The Chicago Car Guy and Auto Channel Executive Producer, with able assistance from senior editor Thom Cannell from The Auto Channel Michigan Bureau, compile The Auto Channel’s “take” on this past week’s automotive news, condensed into easy to digest news Nuggets.

LEARN MORE: Full library of today’s news nugget topics s along with thousands of pages of relevant news and opinions, information stored in a million-page library published and indexed on The Auto Channel during the past 25 years. Complete information can be found by copying a topic and then inserting into any Site Search Box.

Nutson’s Automotive News Wrap-up – Week Ending April 30, 2022 Below are the past week’s important, relevant, semi-secret, or snappy automotive news, opinions and insider back stories presented as
expertly crafted easy-to-understand automotive universe news nuggets.

* Sales of cars and light trucks in the United States will fall to an annual pace of just 14.5 million vehicles, down more than 20{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} from a year ago. But average new vehicle prices will hit a record $45,232, up 18.7{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} from a year ago, according to J.D. Power and LMC Automotive.

* Joe White writing for Reuters tells us U.S. Sen. Joe Manchin has said aloud what even some in the auto industry are wondering: Does the United States government need to offer expanded subsidies to spur sales of electric vehicles at a time when demand for many EVs is outrunning supply? Sen. Manchin’s judgment appears to be, no, and that likely means lights out for the Biden Administration’s proposals to significantly expand the current $7,500 per vehicle tax credit for a manufacturer’s first 200,000 EVs.

* A new consumer survey commissioned by Engine’s CARAVAN and conducted by MINI USA reveals various shifts in American consumers’ sentiment toward electric vehicles over the last three years. The survey, which repeated the same set of questions used in a 2019 questionnaire carried out by MINI USA, indicates that more Americans – and particularly younger and female consumers – view electric vehicles as a primary car in the household more than any other use case. This represents a shift from 2019 where more respondents selected “commuting car” and “city car” as preferred uses. A point that has remained consistent from both surveys is daily travel distance, as 76{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} of respondents say that 75 miles of battery range is sufficient for everyday driving. Only a 3{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} increase over the course of three years, consumers’ daily driving distances continue to remain well below the current range of all new electric vehicles on the market today. Expectations for faster charging times rose over the last three years. More than two-thirds (67{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}) of consumers now believe charging should take no more than an hour, an increase from 59{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} three years ago.

* More than a dozen automakers are introducing electrified pickup trucks – full EVs or hybrids – over the next couple of years. One of those is Ford, which celebrated the delivery of the electric F-150 Lightning to its first customers on Tuesday, April 26. With so many electrified pickup trucks hitting the market, the question is who will buy them. Will it be traditional pickup truck owners, or will electrification open a new segment of truck buyers? The latter seems most likely based on new research from Cox Automotive and orders Ford has received for the Lightning, the vast majority of which are from consumers who have not owned a Ford, much less a Ford truck. “Younger consumers – under age 35 – and current owners of SUVs and sedans are the most likely candidates to buy an electrified pickup truck,” said Vanessa Ton, senior manager of Cox Automotive’s Research and Market Intelligence team.

* The North American International Auto Show (aka Detroit Auto Show) announced a peek behind the curtain of its first-ever indoor-outdoor fall auto show, including plans for dynamic vehicle activations, free community activities downtown, Charity Preview’s return and a rebranded logo for the iconic Detroit show. Scheduled for Sept. 14 – 25, 2022, at Huntington Place in Detroit, the auto show returns after a multi-year absence precipitated by the pandemic.

* Automotive News reports Volkswagen has given is Amarok pickup (not sold in the U.S.) a more robust look, along with driver assistance systems and engines from its partner Ford Motor. The second-generation Amarok, based on the latest Ford Ranger, will offer an expanded array of driver assist features and a broader range of engines than its predecessor, VW Commercial Vehicles said. VW has no plans to offer a plug-in hybrid version but the automaker is looking at a full-electric version, VW Commercial Vehicle’s marketing boss, Lars Krause, told Autocar. And we ask: Will the Amorak find its way to the U.S., produced in North America, as a battery-powered pickup?

* Ford celebrated the first production battery-powered F-150 Lightning coming off the assembly line this week at the Rouge Electric Vehicle Center. Ford’s new EV manufacturing facility at Ford’s historic Rouge complex has been expanded to boost production capacity to 150,000 units annually. Lightnings will begin shipping to customers in the next few days.

* Volta Inc., an electric vehicle charging network, revealed broader EV adoption is dependent upon highly visible EV chargers that are conveniently located at the places drivers already frequent. The findings come from a nationwide research study and go beyond price and range anxiety to understand top barriers to switching to electric. Nearly half (42{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}) of Americans have never seen an EV charging station, and over a quarter (27{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}) of EV intenders still have not. 75{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} of EV intenders rank convenient access to EV charging as their top barrier to making the switch (5 percentage points higher than price)—63{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} of the general population agreed. Americans ranked grocery shopping (73{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}), dining at a restaurant (70{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}), retail shopping (69{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}), working (68{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}), watching a movie at a theater (64{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}), and exercising (60{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}) as top activities they would like to accomplish while charging their EV— all higher than downtime activities like reading while charging (54{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}).

* The U.S. Postal Service has been hit with three separate lawsuits filed by 16 states. the District of Columbia and environmental groups. Filed in New York and California, the suits ask judges to order a more thorough environmental review before the USPS moves forward with the next-generation delivery vehicle program. The plaintiffs contend that purchases of fossil fuel-powered delivery vehicles will cause environmental harm for decades to come and want the Postal Service to buy more electric delivery vehicles.

* Chevrolet said that a hybrid version of the Corvette will be available “as early as next year,” with a fully-electric model to follow sometime in the future. Reports are that GM President Mark Reuss also confirmed the news to CNBC’s though declined to give any specific dates besides noting that “We will have an electrified Corvette next year, so it’s coming very quick.” Joe White from Reuters points out the a hybrid Corvette is not in accord with GMs all-electric strategy.

* First told to our friends at The Detroit Bureau and recently confirmed to Automotive News, Mazda is bringing back its rotary engine. A plug-in hybrid version of the MX-30 utility vehicle with be using the rotary. The arrival of the MX-30 Plug-In Hybrid should happen sometime after the end of Mazda’s current fiscal year, which ends on March 31, 2023, reports The Detroit Bureau.

* A self-driving Tesla (which actually does not have self-driving capability) crashed into $3.5 million private jet when the owner used the “Smart Summon” feature. The feature, which operates at a speed limited to 5mph, was introduced by Tesla in 2019 and is still a beta feature…meaning, not-ready-for-prime-time.

* Ford is recalling more than 250,00 Explorer utility vehicles in the U.S. because they can roll away unexpectedly while shifted into park. The recall covers certain 2020 through 2022 Explorers with 2.3-liter engines, as well as 3-liter and 3.3-liter hybrids and the 3-liter ST. Also included are 2020 and 2021 Explorer Police hybrids and those with 3.3-liter gas engines. A rear axle mounting bolt can fracture and cause the drive shaft to disconnect. If that happens, the Explorers can roll away even if they are placed in park gear, without the parking brake on.

* Tesla is recalling about 48,000 Model 3 Performance vehicles in the United States because they may not display the speedometer while in “Track Mode.” The recall covers vehicles from the 2018 through 2022 model years.

* The Indy Autonomous Challenge (IAC) racecar, a Dallara AV-21 programmed by team PoliMOVE from Politecnico di Milano (Italy) and the University of Alabama (USA), set a new land speed world record for a self-driving car of 192.2 MPH / 309.3 KPH at the historic Kennedy Space Center. Operating the Dallara AV-21, PoliMOVE set out to push the limits of a boosted engine package during test runs at Space Florida’s Launch & Landing Facility at Kennedy Space Center. The upgraded engine package, capable of delivering 30{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} more horsepower than previous models, will be on all IAC race cars moving forward. Future competitions will be announced in the coming months. The primary goal of the IAC is to solve real world problems by advancing technology that will speed the commercialization of fully autonomous vehicles and deployments of advanced driver-assistance systems (ADAS).

* After months of anticipation and more than 173,500 applications, the Dodge brand’s search to fill the greatest automotive job in the world came to its supercharged conclusion. Proving he has the character and the drive in a series of high-stakes challenges, Preston Patterson of North Carolina has officially been named chief donut maker. The announcement came on 4/26, April 26 that is, which is Hemi Day. After a four-month search ten finalists had been selected to go through a final round of tests. The chief donut maker search is part of the brand’s Never Lift plan, which provides a 24-month road map to Dodge’s performance future.

* DSR Performance, Don Schumacher Racing’s (DSR) performance aftermarket division, has launched the DSR 1150. An earth shattering 1150-horsepower crate engine based on the current generation (GEN III) HEMI. This game changing crate engine has unparalleled performance levels and is designed to run on 93 octane unleaded fuel. The DSR 1150 has been engineered using technology and data developed from the championship-winning DSR Challenger Drag Pak program that has competed and won in the ultra-competitive NHRA Constant Aviation Factory Stock Showdown Series and NMCA Holley EFI Factory Super Cars Class. In paying homage to the infamous Chrysler HEMI engine that ruled the streets and strips in the 1960s and early 1970s, the modern DSR 1150 displaces 426 cubic-inches (7.0-liter) and is the highest horsepower pump gas OE production-based crate engine sold on the market today. The DSR 1150 retails for $37,950 and is sold direct through DSRperformance.com and exclusive dealers.

* A 2022 Hyundai Santa Cruz Limited is being entered in the seventh annual Rebelle Rally, an all-women, off-road navigational challenge held in the deserts of California and Nevada. Automotive writers Jill Ciminillo and Kristin Shaw will share driving and navigation duties. The rally starts Oct. 6 at a to-be-determined location in Nevada. It will cover 1,500 miles in eight days before reaching the finish line, Oct. 15, in the Imperial Sand Dunes of Southern California. It will be Ciminillo and Shaw’s first attempt at the Rebelle Rally and Hyundai’s first time supporting the event.

* A team of Acura engineers will take the brand’s high performance Type S variant to a different form of competition this month as they tackle the iconic 2022 Tire Rack One Lap of America, a demanding eight-day, 3,200-mile road rally, April 30 – May 7. Driving a turbocharged 2022 Acura TLX Type S sports sedan they helped create, two engineers from Honda’s Ohio-based North American Auto Development Center, Nicolas Hammann and Clifton Ching, will compete in the grueling competition that includes timed events at nine racetracks across the U.S. The 37th running of the One Lap of America starts and ends at the Tire Rack headquarters in South Bend, Indiana, and sends competitors through 12 states.

Stay safe. Be Well.

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Allergies and mental health: What is the link?

Allergies and mental health: What is the link?

woman playing table tennis feeling ill holding her hand up to her foreheadShare on Pinterest
New research examines the impact of having an allergy on a person’s mental health. Tommaso Tuzj/Stocksy
  • A survey study conducted by Allergy UK, a non-profit organization in the United Kingdom, found that negative perceptions impacted the mental health of people with allergies and their caretakers.
  • Over one-third of respondents reported that people with allergies exaggerated their severity and lied about allergies to avoid foods.
  • People with allergies reported minimizing their condition, fearing judgment, avoiding social interactions, and impaired work performance.
  • Survey results highlighted the need for increased awareness of the mental health effects of misperceptions on people with allergies, Get Auto Repair.

Allergies commonly affect people worldwide and are caused by an overactive immune response to substances like food, mold, pollen, or dust.

While most people may experience mild to moderate allergic symptoms, some can have severe and life threatening reactions, such as swelling of the throat, known as anaphylaxis.

In addition to the physical symptoms, some studies have shown that allergies may also impact one’s emotional well-being.

 

A survey study conducted in the United States linked seasonal allergies with a 28{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} increased risk of mood disorder, 43{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} increased risk of anxiety disorders, and 38{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} increased risk of eating disorders (after adjusting for demographics and tobacco use).

Another study in Taiwan found that allergic disease correlated with a 66{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} increased risk of psychiatric disorders.

Similarly, a study in the U.K. found that allergic disease had strong associations with depression, anxiety, bipolar disorder, and neuroticism and weaker associations with asthma, atopic dermatitis, and hayfever. However, the study did not find that allergies caused these conditions, Get Auto Repair.

To better understand the attitudes toward people with allergies and their psychological impact, Allergy UK, an advocacy group for people with allergies, conducted an online survey in June 2021.

The study findings have not been published yet but are on the Allergy UK Website.

The survey included 2,937 people with allergies and 1,085 people without allergies in the U.K. Researchers found that 60{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} of respondents reported having allergies, and 79{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} knew someone with an allergy.

The top five most common allergies reported were hay fever (37{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}), asthma (17{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}), eczema (13{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}), drug allergy (8{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}), and food allergy (8{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}).

 

 

Over one-third of respondents had negative perceptions about people with allergies, 37{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} of respondents reported that “people exaggerate the severity of their allergy,” and 35{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} felt “people fake their allergy to avoid certain foods.”

People with allergies reported various adverse effects on their mental health and quality of life, including:

  • the need to minimize their allergies for fear of judgment by friends, family, or employers (52{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809})
  • avoidance of social interactions (53{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809})
  • impaired work performance (44{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809})

Parents of children with allergies also reported adverse psychological effects on their children, with 40{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} experiencing feelings of isolation due to teasing and bullying by others. In addition, 54{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} of parents reported feeling “very or extremely anxious” about their child experiencing an allergic reaction when dining out.

Carla Jones, CEO at Allergy UK, comments on the findings: “For many, the perception is that an allergy, like hay fever, is a minor and seasonal problem. However, this research […] has highlighted the impact that negative perceptions and misunderstandings have on our allergic community, Get Auto Repair.”

Helping people living with allergies and their families adjust to the emotional stress psychologically is essential.

Dr. Jeanne Herzog, a lifespan psychologist, in the webinar, Managing the Emotional Impact of Living with a Food Allergy, states, “It’s easy for anxiety to go from a little bit to too much. After all, there are so many uncertainties when you’re living with food allergies, and some of the factors are difficult to control, and for parents, the responsibility of keeping their children safe can be quite heavy. [This] can fuel anxiety.”

She discusses the importance of developing an emotional safety plan to help avoid or mitigate the impact of stress.

Dr. Herzog states, “One study found that kids saw more danger in the fact that other people don’t care than in the allergen itself. They believe they can protect themselves from the allergen, but they’re not so sure they can protect themselves from others who don’t care about food allergies.”

Bringing awareness through education may also help change attitudes surrounding allergies, resulting in better care standards and improving the quality of life for people with allergies.

Dr. Herzog states, “We need a knowledgeable and caring village, and we’re working on that.”

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Milwaukee Bucks at Boston Celtics Game 2 odds, picks and predictions

Milwaukee Bucks at Boston Celtics Game 2 odds, picks and predictions

The Milwaukee Bucks (1-0) are back at TD Garden Tuesday to take on the Boston Celtics (0-1) in Game 2 of the Eastern Conference semifinals. Tip-off is scheduled for 7 p.m. ET (TNT). Below, we look at the Bucks vs. Celtics odds and lines, and make our expert NBA picks, predictions and bets.

Bucks superstar Giannis Antetokounmpo did everything to lead the charge in Game 1 with 24 points, 13 rebounds, 12 assists and 2 blocks. He kept his composure during his worst shooting night of the playoffs, just 9 of 25 (36{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809}). PG Jrue Holiday led all scorers with 25 points and added 9 rebounds, 5 assists and 3 steals.

Boston laid an all-around egg in Game 1, shooting just 33.3{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} from the floor. They did drill 18 3-pointers, which was 10 fewer than their total makes on the night. PF Jayson Tatum had 21 points on 4 of 9 from distance, 6 rebounds and 6 assists.

Bucks vs. Celtics odds and lines

Odds provided by Tipico Sportsbook; access USA TODAY Sports Scores and Sports Betting Odds hub for a full list. Lines last updated at 9:39 a.m. ET.

  • Money line: Bucks +155 (bet $100 to win $155) | Celtics -190 (bet $190 to win $100)
  • Against the spread (ATS): Bucks +4.5 (-107) | Celtics -4.5 (-115)
  • Over/Under (O/U): 215.5 (O: -108 | U: -112)

Bucks vs. Celtics key injuries

Bucks

  • G Khris Middleton (knee) out

Celtics

  • G Marcus Smart (quadriceps) questionable

Bucks vs. Celtics picks and predictions

Prediction

Celtics 115, Bucks 112

Money line

The Celtics have to counterpunch to salvage one at home, but we’re not willing to throw -190 on it. PASS.

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Against the spread

Defensive Player of the Year G Marcus Smart took a couple of shots to his quadriceps, which has him questionable for this one. There’s little chance it will keep him out, but it could hinder his mobility. The Celtics had the best defense in the league largely due to Smart’s perimeter suffocation. The Celtics will also need to clean the boards better after Milwaukee had 4 players with 9 boards in Game 1.

Tatum takes this game over, but G Jaylen Brown has to support him better than 12 points on 4-of-13 shooting. The Bucks are just 1-7 ATS in the last 8 meetings with Boston, but I can’t see laying 4.5 points, and I can’t see Boston dropping both at home. Take the BUCKS +4.5 (-107). You might want to act quickly, though, as the spread figures to come down with 58{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} of the cash and tickets on Milwaukee this morning.

Over/Under

The Over is 8-2 in the last 10 with one of those Unders hitting in Game 1. In fact, this number would have hit in the last 9 aside from Game 1. Celtics C Al Horford has quietly shot 54.2{cfdf3f5372635aeb15fd3e2aecc7cb5d7150695e02bd72e0a44f1581164ad809} from 3-point range in the playoffs. Look for him to continue stretching the defense to open holes for Brown and Tatum to drive. Milwaukee blew Boston away in fast-break points at 28-8. That will be another emphasis when backup PG Derrick White enters the game.

The Bucks were a plus-23 when Giannis was on the floor for 38 minutes in Game 1. The Celtics will try to get him into foul trouble and exploit C Brook Lopez, who was a minus-10. Long story short, Boston will be much better offensively, so let’s LEAN OVER 215.5 (-108).

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