AMD's third-quarter results better than expected

The company has reported lighter sales than expected due to low customer demand, but has succeeded in beating low analyst expectations
Written by Larry Dignan, Contributor

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.

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