Home › Business › Business
AMD posts $611 million loss for first quarter
STORY TOOLS 
More from BusinessSAN JOSE, Calif. (AP) Advanced Micro Devices Inc. reported a greater-than-expected loss in the first quarter as the chip maker continued to struggle amid a fierce price competition with larger rival Intel Corp. Despite the miss, AMD's already-depressed stock price surged on signs the price battle is easing and the company is willing to outsource some of its chip-making duties to outside factories to cut costs.
AMD said Thursday it lost $611 million, or $1.11 per share, in the first three months of the year. That compares with a profit of $185 million, or 38 cents per share, in the same quarter a year ago.
Sunnyvale-based AMD reported $1.23 billion in sales, a 7 percent decline from the $1.33 billion it rang up a year ago.
Analysts, on average, were expecting AMD to record a loss of 48 cents per share on $1.26 billion in revenue, according to a survey by Thomson Financial. Expectations varied wildly, with some analysts predicting a loss as steep as 82 cents a share.
Before the results were released, AMD shares rose 37 cents, or 2.7 percent, to close at $14.28 on the New York Stock Exchange.
(Requires free registration.)
Article discussions on this site are to support community debates of issues related to our stories and editorials.
Discussions should not stray from the subject of the story or editorial.
We do not allow the following:
We reserve the right to delete threads and/or ban users for these or other reasons we deem necessary.
Opinions are the sole responsibility of the person posting them. You agree not to post comments that are off topic, defamatory, obscene, abusive, threatening or an invasion of privacy. Violators may be banned. Click here for our full user agreement.