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Tuesday, January 21, 2014
AMD Reports 4Q Profit

Advanced Micro Devices (AMD) posted a fourth-quarter profit compared with a year-ago loss, mainly due to the strong sales of the new gaming consoles, which are powered by semi-custom AMD APUs.

Net profit was $89 million in the quarter ended December 28, compared with a loss of $473 million a year earlier.

The company's revenue rose 37 percent to $1.59 billion.

"Strong execution of our strategic transformation plan drove significant revenue growth and improved profitability in the fourth quarter," said Rory Read, AMD president and CEO. "The continued ramp of our semi-custom SoCs and leadership graphics products resulted in a 38 percent revenue increase from the year ago quarter. Our focus in 2014 is to deliver revenue growth and profitability for the full year by leveraging our differentiated IP to drive success in our targeted new markets and core businesses."

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