Chipmaker AMD's revenue tops estimates, forecast misses
By Noel Randewich | January 23, 2013 9:00 AM EST
Chipmaker Advanced Micro Devices' quarterly revenue topped estimates but its forecast for the current quarter fell short as it struggles with falling PC sales and consumers' growing preferences for smartphones and tablets.
Microsoft Corp's long-awaited launch of Windows 8 in October brought touch screen features to laptops but failed to spark a resurgence in sales that AMD, Intel and many PC manufacturers had hoped for.
AMD posted fourth-quarter revenue of $1.16 billion, compared to $1.69 billion in the year-ago quarter.
In its report on Tuesday, AMD estimated revenue in the current first quarter would fall 9 percent from the fourth quarter, plus or minus 3 percent. The mid-point of AMD's revenue forecast is about $1.056 billion.
Analysts had expected $1.149 billion in revenue for the December quarter and $1.108 billion in revenue for the current quarter, according to Thomson Reuters I/B/E/S.
AMD had a net loss of $473 million, or 63 cents a share, compared to a net loss of $177 million, or 24 cents a share, in the same quarter the year before.
Shares of AMD rose 2.45 percent in extended trade after closing down 0.41 percent at $2.45.
(Reporting by Noel Randewich; Editing by Phil Berlowitz)
Join the Conversation
- 5 Proofs Russia is Geared-Up for Shooting War with U.S. and Can Win Future Nuclear Showdown
- Target’s ‘Surprise Doorbusters’ Black Friday 2014 Deals On TV Sets, Entertainment Centres, DVD Players And More
- IKEA Black Friday 2014 Ad Includes Discounts On Home Furnishings, Appliances, Kitchen Designs, Beds, Sofas, Mattresses And Toys
- T-Mobile’s Black Friday 2014 Deals On Apple iPhone 6, Samsung Galaxy Note 4/Edge, Nexus 6, HTC One M8, LG G3, iPad Air 2 And Mini 3
- ISIS Drug Transit From Afghanistan To Europe Confirmed By Russia: Money Goes Into Terror Funding And In New Recruitments
- ISIS Kidnaps Iraqi Defence Minister’s Family, Executes Female Parliament Candidates
- Bill Clinton At It Again, Caught By Camera In Jerusalem Peeking At Woman’s Breast