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Tech earnings: AMD, Sandisk, Polycom top estimates

By | April 21, 2011, 1:35pm PDT

Summary: AMD reported better-than-expected. Sandisk and Polycom also delivered strong first quarter results.

AMD on Thursday delivered better-than-expected first quarter results and said demand was strong for its accelerated processing units.

The company reported earnings of $510 million, or 68 cents a share, on revenue of $1.61 billion, up 2 percent from a year ago. The earnings gain was due to and equity profit on Globalfoundries. Non-GAAP earnings were 8 cents a share, 3 cents ahead of Wall Street estimates.

As for the outlook, AMD said it expects second quarter revenue to be “flat to slightly down sequentially.”

Among other key tech earnings:

  • Sandisk reported first quarter earnings of $224 million, or 92 cents a share, on revenue of $1.29 billion, up 19 percent from a year ago. Non-GAAP earnings were $1.03 a share, three cents above Wall Street estimates. Sandisk cited strong demand for its embedded mobile memory.
  • Polycom reported first quarter earnings of $34 million, or 38 cents a share, on revenue of $344 million. Non-GAAP earnings were 48 cents a share. Wall Street was looking for 42 cents a share. Polycom said it saw strong demand for its unified communications products and traction in emerging markets.

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Topics

Revenue, SanDisk Corp., non-GAAP, Earnings, Advanced Micro Devices Inc., Polycom Inc., Financial Accounting, GAAP, Finance, Larry Dignan

Larry Dignan is Editor in Chief of ZDNet and SmartPlanet as well as Editorial Director of ZDNet's sister site TechRepublic.

Disclosure

Larry Dignan

Larry Dignan has nothing to disclose. He doesn’t hold investments in the technology companies he covers.

Biography

Larry Dignan

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 CNET News.com. Larry has covered the technology and financial services industry since 1995, publishing articles in WallStreetWeek.com, Inter@ctive Week, The New York Times, and Financial Planning magazine. He's a graduate of the Columbia School of Journalism and the University of Delaware.

For daily updates, follow Larry on Twitter.

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RE: Tech earnings: AMD, Sandisk, Polycom top estimates
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xiaojiektii Updated - 22nd Apr 2011
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beibei41 Updated - 22nd Apr 2011
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Nice AMD!
Bates_ 22nd Apr 2011
Good to see AMD kicking some ass. They may never be as big as those scummy buggers over at Intel, but as long as they are right behind them, I will always stay a happy and loyal AMD user!
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RE: Tech earnings: AMD, Sandisk, Polycom top estimates
trust2112@... 22nd Apr 2011
Actually, it went up because the EU and US finally conceded that Intel held an unfair marketing campaign. I'd say the couple billion dollars the EU fined Intel helped a lot, too. I'll never own an Intel processor unless they are the only ones left, then I might just go back to using smoke signals, unless someone owns the patent to that, too?
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