AMD Q1 Revs Beat; But Sees Sequential Drop in Q2
Advanced Micro Devices (AMD) shares posted better-than-expected Q1 revenues, but also said Q2 revenues will be sequentially lower, due to macro conditions, limited visibility and historical seasonal patterns. Note that Intel (INTC) previously predicted flat revenue for the second quarter.
For the quarter, AMD reported revenue of $1.177 billion, flat with Q4, down 22 percent from a year ago, and well above the Street at $977.8 million. The company posted a loss of 66 cents a share, in line with expectations.