AMD beats expectations despite loss

AMD beats expectations despite loss

Summary: The chipmaker beat expectations for its first-quarter revenue, but recorded a net loss of $590m, following charges arising from its revised agreement with GlobalFoundries

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Chipmaker AMD reported mixed results for its first quarter, but beat expectations.

AMD reported a first-quarter net loss on Thursday of $590m ($366m), or 80 cents a share, on revenue of $1.59bn, down two percent from a year ago. Non-GAAP earnings were 12 cents a share. Wall Street was expecting AMD to report non-GAAP earnings of 9 cents a share on revenue of $1.56bn.

AMD said that non-GAAP earnings excluded a charge relating to a revised agreement with GlobalFoundries, SeaMicro acquisitions costs, restructuring and a tax benefit.

For more on this ZDNet UK-selected story, see AMD Q1 mixed, but better than expected on ZDNet.com.


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