AMD's fourth quarter featured weaker than expected sales and said the three months ended March 31 would be down about 8 percent sequentially.
The chipmaker reported a fourth quarter net loss of $177 million, or 24 cents a share, on revenue of $1.69 billion, up 2 percent from a year ago. Non-GAAP earnings were 19 cents a share. Wall Street was looking for non-GAAP earnings of 16 cents a share on sales of $1.71 billion in the fourth quarter.
Regarding the outlook, AMD said it "expects revenue to decrease eight percent, plus or minus three percent, sequentially for the first quarter of 2012." At an 8 percent decline AMD's first quarter revenue will be about $1.56 billion. Wall Street expected revenue of $1.7 billion.
For 2011, AMD reported earnings of $491 million, or 66 cents a share, on revenue of $6.57 billion.
In a statement, AMD CEO Rory Read touted the company’s 30 million accelerated processor unit shipments. Read said AMD is working to be a company that "consistently delivers on its commitments."
By the numbers:
- AMD's gross margins were 46 percent.
- Computing solutions revenue was up 7 percent in the fourth quarter compared to a year ago. AMD credited server and chipset revenue.
- Graphics chip revenue fell 10 percent in the fourth quarter from a year ago. Mobile GPU sales fell.