AMD's Q2 better than expected; sees Q3 profit ahead

Summary:AMD CEO Rory Read says the company aims to deliver "significant revenue growth and a return to profitability in the third quarter."

AMD's second quarter featured losses and a 18 percent decline in revenue, but came in better than estimates.

The company reported a second quarter loss of $74 million, or 10 cents a share, on revenue of $1.16 billion. The non-GAAP loss was 9 cents a share in the quarter.

Wall Street was looking for a loss of 12 cents a share on revenue of $1.11 billion.

In a statement, AMD CEO Rory Read said restructuring efforts have paid off and the company aims to deliver "significant revenue growth and a return to profitability in the third quarter."

The company's traditional CPU business showed improvement over the first quarter. Graphics chips were off from a year ago. The company ended the quarter with 9,928 employees, down from 11,737 a year ago.

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Topics: Processors, Hardware

About

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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