AMD delivers first quarter profit

AMD delivers first quarter profit

Summary: The company has reported a first quarter profit, crediting new graphic and server chips for the boost in prospects

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TOPICS: Tech Industry
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Advanced Micro Devices delivered a first quarter profit in the latest sign that the PC and server upgrade cycle is gaining momentum.

AMD delivered net income of $257m (£166m), or 35 cents a share on revenue of $1.57bn, up from $1.18bn a year ago, according to a statement. AMD's revenue was down from the $1.65bn delivered in the fourth quarter. On a non-GAAP basis the chip maker reported a profit of 9 cents a share.

Wall Street was expecting AMD to report a loss of 5 cents a share. In a statement, AMD chief executive Dirk Meyer credited new graphic and server chips for boosting the company's prospects.

For more on this story, see AMD turns a first quarter profit on ZDNet.com

Topic: Tech Industry

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