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

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

Topics: Tech Industry

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Larry Dignan is Editor in Chief of ZDNet and SmartPlanet as well as Editorial Director of ZDNet's sister site TechRepublic. He was most recently Executive Editor of News and Blogs at ZDNet. Prior to that he was executive news editor at eWeek and news editor at Baseline. He also served as the East Coast news editor and finance editor at CN... Full Bio

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