Could’ve been worse
Processor maker AMD reported its first quarterly revenue since the completion of its spin-off of its manufacturing operations, and the search for a profitable quarter continues.
AMD reported revenue of $1.177 billion in Q1 09, compared with $1.162 billion the previous quarter and $1.487 billion a year ago. Net loss was $416 million, much better than the net loss of $1.437 last quarter, but worse than the net loss of $351 million a year ago. Estimates for Q1 revenue had been for closer to $1 billion.
"AMD's sequential microprocessor unit and revenue growth in difficult economic conditions demonstrate we can grow in an environment where customers are looking for maximum value," said Dirk Meyer, AMD president and CEO.
"We delivered on a number of important priorities in the first quarter. The result is a more nimble AMD, capable of achieving long-term success based on our strengths designing and integrating industry-leading computing and graphics technologies."
AMD's gross margin was a lot better at 43 percent than the previous quarter's 23 percent, mainly due to not having to write down a load of unsold inventory this time round.
Citing current macroeconomic conditions and limited visibility, AMD declined to offer a precise forecast, saying only that it expects revenue for new AMD (minus GLOBALFOUNDRIES) to be down in Q2. AMD shares were down around six percent in after market trading at time of writing.
