AMD on Thursday reported
Q1 revenue of
$1.09 billion, down from $1.59 billion in the year-ago
quarter, but said that June-quarter revenue would rise 2
percent, plus or minus 3 percent, compared with the March
The results were expected as the demand for PC chips is
declining. The company is trying to refocus its business as
sales of laptops languish and consumers depend on
smartphones and tablets.
"Our first quarter results reflect our disciplined
operational execution in a difficult market environment,"
said Rory Read, AMD president and CEO. "We have largely
completed our restructuring and are now focused on
delivering a powerful set of new products that will
accelerate our business in 2013. We will continue to
diversify our portfolio and attack high-growth markets like
dense server, ultra low-power client, embedded and
semi-custom solutions to create the foundation for
sustainable financial returns."
AMD said it had a net loss of $146 million, or 19 cents a
share, in the first quarter, compared with a loss of $590
million, or 80 cents a share, in the same quarter last year.
The company's adjusted loss per share was 13 cents.