AMD Posts Sharply Higher Sales
Advanced Micro Devices Inc. (AMD) posted a narrower second-quarter loss on sharply higher revenue and margins.
The chip maker’s improved results mirrored the strong earnings report Tuesday by much-larger rival Intel Corp. (INTC), which credited in part increased spending by businesses.
AMD, which sells chips that serve as calculating engines in personal computers, returned to profitability in the fourth quarter after three years of losses. The company has benefited from the spinoff of its manufacturing operations into Globalfoundries and strong demand for its graphics chips, a newer business acquired through the purchase of ATI Technologies.
For the latest quarter, AMD reported a loss of $43 million, or six cents a share, compared with a year-earlier loss of $330 million, or 49 cents a share. The spinoff and other items cut into per-share results by 7 cents and 12 cents, respectively.
