AMD reports $416 million loss
First quarter losses climb as revenues fall 21 per cent quarter-on-quarter
AMD has reported deepening losses for the first quarter of the financial year, with a loss of USD 416 million for the three month period ending March 31 compared to a loss of USD 364 million quarter-on-quarter.
The chip maker reported USD 1.18 billion in revenue for the first quarter, down 21 per cent compared to the first quarter of 2008.
"AMD's sequential microprocessor unit and revenue growth in difficult economic conditions demonstrate we can grow in an environment where customers are looking for maximum value," said Dirk Meyer, AMD president and CEO.
"We delivered on a number of important priorities in the first quarter. We launched Globalfoundries, maintained our cadence of new product and platform introductions, and made solid progress on our restructuring activities. The result is a more nimble AMD, capable of achieving long-term success based on our strengths designing and integrating industry-leading computing and graphics technologies."
AMD's goss margin was 43 per cent, an increase 5 percentage points due to a USD 64 million benefit from the sale of inventory written down in the fourth quarter of 2008.
Trading in AMD's stock on the New York Stock Exchange closed at USD 3.36, up 1.51 per cent from the previous day.