AMD Slashes Loss on Sales of New Products
Advanced Micro Devices reduced its third-quarter loss sixfold from a year ago, as the computer chip maker saw strong sales of its latest products.
Sunnyvale, Calif.-based AMD reported a loss of $67 million, or 11 cents per share, in the quarter. It lost $396 million, or 71 cents per share, in the year-ago quarter.
Analysts polled by Thomson Reuters on average expected the company to lose 40 cents per share in the quarter, but their estimates generally exclude certain items, and a comparable figure wasn't immediately available from the company.
AMD's revenue rose 14 percent to $1.78 billion, far outstripping the $1.48 billion in revenue expected on Wall Street.
AMD shares rose 5.37 percent to $4.12 in trading on the New York Stock Exchange Thursday.