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Friday, April 19, 2013
AMD Results Hit By Declining PC market

AMD on Thursday reported Q1 revenue of $1.09 billion, down from $1.59 billion in the year-ago quarter, but said that June-quarter revenue would rise 2 percent, plus or minus 3 percent, compared with the March quarter.

The results were expected as the demand for PC chips is declining. The company is trying to refocus its business as sales of laptops languish and consumers depend on smartphones and tablets.

"Our first quarter results reflect our disciplined operational execution in a difficult market environment," said Rory Read, AMD president and CEO. "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."

AMD said it had a net loss of $146 million, or 19 cents a share, in the first quarter, compared with a loss of $590 million, or 80 cents a share, in the same quarter last year.

The company's adjusted loss per share was 13 cents.

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