AMD delivers solid Q3 in Read's debut

AMD delivers solid Q3 in Read's debut

Summary: AMD's new chief said that the company navigated supply constraints and showed strength in emerging markets.

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AMD reported solid third quarter results in new CEO Rory Read's first financial report.

The company reported third quarter earnings of $97 million, or 13 cents a share, on revenue of $1.69 billion, up 7 percent from a year ago. Non-GAAP earnings were 15 cents a share.

Wall Street was expecting AMD to report third quarter earnings of 10 cents a share on revenue of $1.65 billion.

In a statement, Read said that the company navigated supply constraints and showed strength in emerging markets. "We saw double digit revenue and unit shipment growth in emerging markets like China and India as well as overall notebook share gains in retail at mainstream price points," said Read.

Read's comments about the emerging markets is right out of the Lenovo playbook. Read used to be Lenovo's operating chief. Also see: AMD's new CEO will continue to focus on PC market, then cloud | AMD names Lenovo exec Rory Read CEO, eyes post PC plan

As for the outlook, AMD said that its fourth quarter revenue will be up 3 percent---give or take 2 percent---from the third quarter.

By the numbers:

  • Computing solutions revenue was up 5 percent from a year ago. Server and mobile revenue offset weak desktop revenue.
  • Graphics chip revenue was up 4 percent in the third quarter compared to a year ago.
  • Gross margins were 45 percent.
  • AMD had $1.86 billion in cash and equivalents at the end of the quarter.

Topics: Processors, Banking, Enterprise Software

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6 comments
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  • RE: AMD delivers solid Q3 in Read's debut

    Good, now fix the bulldozer line!
    slickjim
    • RE: AMD delivers solid Q3 in Read's debut

      @Peter Perry What's wrong with it aside from the fact that they are impossible to find now? They seem to perform well, hot, but well. Most negative reviews on sites like Newegg are from Intel fanboys who don't even own an A8, and they are bashing it.
      Bates_
      • RE: AMD delivers solid Q3 in Read's debut

        @Bates_ I have been typing away on this AMD for close to 7 years on XP...but I only buy intel for my work machines..not sure why. Suspicion I guess. When I replace this machine I will be going for a top of the line AMD.
        s_jarmin
  • RE: AMD delivers solid Q3 in Read's debut

    http://snipr???com/2b3pzz
    fashionean
  • RE: AMD delivers solid Q3 in Read's debut

    thanks http://www.sosyetechat.net
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    DeLi_Cocuk
  • Another nail in Intel's coffin

    Sorry - My inner Linux Geek.
    William Farrell