AMD Revenue Steady, Earnings Up
Advanced Micro Devices (AMD) this afternoon posted Q3 revenue of $1.62 billion, about in line with the Street consensus at $1.61 billion. The company posted non-GAAP profits of 15 cents a share, well ahead of the Street at 6 cents.
AMD also said it expects Q4 revenue to be sequentially flat with the third quarter. That would imply $1.62 billion; the Street has been forecasting $1.67 billion.
On a GAAP basis, the company lost $118 million, or 17 cents a share.
“AMD’s third quarter performance was highlighted by solid gross margin and a continued focus on profitability, despite weaker than expected consumer demand,” CEO Dirk Meyer said in a statement. Gross margin in the quarter was 46 percent.
