UPDATE 1-Chipmaker AMD gives 3rd-qtr revenue forecast above Street
SAN FRANCISCO, July 18 (Reuters) - Advanced Micro Devices said on Thursday it expects third-quarter revenue to rise 22 percent on a sequential basis, exceeding Wall Street expectations, as it expands into new game consoles and other new markets to offset a slowing PC industry.
AMD reported on Thursday second-quarter revenue of $1.161 billion, down from $1.413 billion in the year-ago quarter. It said third-quarter revenue would rise 22 percent, plus or minus 3 percent, compared with the June quarter. That increase would be about $1.416 billion.
Analysts, on average, had expected second-quarter revenue of $1.108 billion and third-quarter revenue of $1.223 billion, according to Thomson Reuters I/B/E/S.
AMD said in a statement that it had a net loss of $74 million, or 10 cents a share, in the second quarter, compared with a profit of $37 million, or 5 cents a share, in the same quarter last year.
The company said its non-GAAP loss per share was 9 cents, better than the 12-cent loss expected by analysts.
AMD's stock, which has rallied in recent months, declined 2.80 percent in extended trade after closing up 5.94 percent at $4.64.