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AMD beats Q4 estimates but losses continue amid PC slump

Wall Street was bracing for a loss of a dime per share on $954.74 million in revenue.
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Written by Rachel King on

AMD published fourth quarter and year-end financial results after the bell on Tuesday, much of which reflected declines in the worldwide PC market.

For the final quarter of the calendar year, the tech giant reported a net loss of $102 million, or 13 cents per share (statement).

On a non-GAAP basis, the loss was 10 cents per share on a revenue of $958 million, down 23 percent year-over-year.

Wall Street was bracing for a loss of 12 cents per share on $954.74 million in revenue.

Despite the losses, AMD CEO and president Dr. Lisa Su maintained an optimistic front, defending that the chip maker saw its "second straight quarter of double-digit percentage revenue growth in our Computing and Graphics segment and record annual semi-custom unit shipments.

For the full year, AMD reported $3.99 billion in revenue, down 28 percent year-over-year, with a non-GAAP loss at 54 cents per share.

AMD attributed the annual dive to "lower client processor sales," effectively calling up the ongoing decline for PC shipments worldwide.

"While 2015 was challenging from a financial perspective, key R&D investments and a sharpened focus on innovation position us well to deliver great products, improved financial results and share gains in 2016," Su insisted, in prepared remarks.

Looking forward to the first quarter, Wall Street is expecting that loss to dip farther to 11 cents per share with $900.18 million in revenue.

AMD followed up with the projection that Q1 revenue to decrease 14 percent, plus or minus three percent, sequentially.

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