AMD Adjusts Q4 Revenues From "Roughly Flat" to "Roughly Crappy"
Oh, they’re all piling on now.
This week has brought with it bad news from Palm (PALM), Research In Motion (RIMM), Adobe (ADBE), AT&T (T) and Nokia (NOK). Now AMD has joined them as well. In a terse statement issued this morning, the company warned that its fourth-quarter revenue will come in significantly lower than previously expected, thanks to souring computer sales.
AMD (AMD), which had expected fourth-quarter revenues to be flat, now sees them falling 25 percent from the third quarter’s $1.59 billion. Ugly news for the company, which has been struggling quite a bit lately. Last month the company said it would cut three percent of its workforce. Now that its facing a 25 percent decline in revenues, will AMD take the scythe to its employees once again?