AMD Posts Net Loss

Revenue increased 16% in the quarter to $1.62 billion

Computer chip maker Advanced Micro Devices posted a quarterly net loss on Oct. 14 but beat the expectations of Wall Street analysts.

AMD reported a third-quarter net loss of $118 million compared with a net loss of $128 million during the same quarter a year ago.

Revenue increased 16% in the quarter to $1.62 billion, slightly better than the $1.61 billion forecast by analysts.

"AMD's third quarter performance was highlighted by solid gross margin and a continued focus on profitability, despite weaker than expected consumer demand," AMD president and chief executive Dirk Meyer said. "Our strategy to deliver platforms with superior visual experiences continues to resonate," he said. "We look forward to building on this momentum when we begin shipping our first AMD Fusion Accelerated Processor Units later this quarter."

AMD lowered its revenue outlook in late September on weaker than expected personal computer demand in Western Europe and North America.

The company said it expected revenue to be flat during the current quarter.

AMD's chief rival, Intel, posted a quarterly net profit of nearly $3 billion on and record revenue of more than $11 billion.

Copyright Agence France-Presse, 2010

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