Headlines definitely are in favor of AMD when in reality earnings are terrible. It always get a better treatment than Intel in headlines.
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MD Off 5%: Q1 Rev, EPS Beat, Q2 Rev View Beats
By Tiernan Ray
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EARNINGS
SEMICONDUCTORS
Shares of chip maker Advanced Micro Devices (AMD) are down 12 cents, or almost 5%, at $2.39, after the company reported Q1 revenue and a smaller-than-expected net loss per share, and projected this quarter’s revenue higher as well.
Revenue in the three months ended in March fell 31%, year over year, to $1.09 billion, yielding a net loss of 13 cents per share.
Analysts had been modeling $1.05 billion and a 17-cent loss.
Gross margin in the quarter was 41%, on a non-GAAP basis, up from 39% in Q4 but down from 46% a year earlier.
For the current quarter, the company projected revenue in a range of down 1% to up 5% from last quarter, or $1.11 billion at the mid-point. Analysts have been modeling $1.075 billion in revenue this quarter.
CEO Rory Read remarked,
Our first quarter results reflect our disciplined operational execution in a difficult market environment. We have largely completed our restructuring and are now focused on delivering a powerful set of new products that will accelerate our business in 2013. We will continue to diversify our portfolio and attack high-growth markets like dense server, ultra low-power client, embedded and semi-custom solutions to create the foundation for sustainable financial returns.
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