AMD narrows net loss in second quarter

AMD expects a better second half with a new slate of products

Advanced Micro Devices narrowed its net loss during the second quarter of 2009 as it slowly inched its way toward profitability after consecutive quarterly losses, the company said Tuesday.

AMD reported a net loss of US$330 million, or $0.49 per share, during the quarter that ended on June 27. That compares to a net loss of $1.195 billion a year ago and a net loss of $416 million in the first quarter of 2009.

Financial analysts polled by Thomson Reuters expected a net loss of $0.47 per share.

In an effort to reach profitability, AMD in the first quarter spun off its manufacturing assets into a separate company called GlobalFoundries, which unloaded close to $1.1 billion in debt from AMD's books. GlobalFoundries is a joint venture with investment firm Advanced Technology Investment Company, which is owned by the Abu Dhabi government.

The company reported revenue for the second quarter of 2009 of $1.184 billion, which decreased 13 percent compared to the second quarter of 2008 and was flat compared to $1.177 billion during the first quarter of 2009. Revenue beat analyst expectations of $1.13 billion.

AMD successfully met its product plans during the first half of the year and hopes to release new products as it moves toward profitability, said CEO Dirk Meyer in a statement. He specifically mentioned new platform, microprocessor and graphics products that the company plans to release in the second half of the year.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags AMD

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Agam Shah

IDG News Service
Show Comments

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Tom Pope

Dynabook Portégé X30L-G

Ultimately this laptop has achieved everything I would hope for in a laptop for work, while fitting that into a form factor and weight that is remarkable.

Tom Sellers

MSI P65

This smart laptop was enjoyable to use and great to work on – creating content was super simple.

Lolita Wang

MSI GT76

It really doesn’t get more “gaming laptop” than this.

Jack Jeffries

MSI GS75

As the Maserati or BMW of laptops, it would fit perfectly in the hands of a professional needing firepower under the hood, sophistication and class on the surface, and gaming prowess (sports mode if you will) in between.

Taylor Carr

MSI PS63

The MSI PS63 is an amazing laptop and I would definitely consider buying one in the future.

Christopher Low

Brother RJ-4230B

This small mobile printer is exactly what I need for invoicing and other jobs such as sending fellow tradesman details or step-by-step instructions that I can easily print off from my phone or the Web.

Featured Content

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?