AMD's third-quarter results better than expected

Summary:The company has reported lighter sales than expected due to low customer demand, but has succeeded in beating low analyst expectations

AMD on Thursday delivered better-than-expected earnings and revenue for the third quarter of 2010 as its results topped estimates.

The chipmaker had warned that its third-quarter sales would be lighter than projected because of tepid consumer demand. As with Intel's results on Wednesday, however, AMD's quarter was not as bad as feared.

AMD reported a third-quarter net loss of $118m (£73.6m), or 17 cents a share, on revenue of $1.62bn, down 2 percent from the second quarter and up 16 percent from a year ago. Non-GAAP earnings were 15 cents a share. Wall Street was expecting a profit of 6 cents a share on revenue of $1.61 billion.

For more on this ZDNet UK-selected story, see AMD's third quarter better than expected on ZDNet.com.

Topics: Tech Industry

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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