Things are bad at AMD. The Q2 '09 financials paint a very gloomy picture for the company.
- Sales slumped 13%, down to $1.18bn.
- Losses of $330 million (which is better than the year-ago quarter, where the company lost $1.2bn).
- One bit of good news, graphics chips sales were better than expected - that ATI takeover is starting to pay off.
- Shares are down 12% in pre-market trading. Expect carnage today if you are an investor .
It's been painful to watch AMD struggle to become profitable over the past three years. In that time the company has posted 11 straight quarterly losses, and in that period lost billions of dollars. The company also spun off its manufacturing arm, forming a new company called GlobalFoundries.