Chipmaker Advanced Micro Devices Inc., like competitor Intel Corp. earlier in the week, reported lackluster results for its first quarter of 2013 largely due to soft PC sales. However, the company said it is through the worst part of its restructuring, which has eliminated hundreds of AMD jobs.
For the quarter, AMD reported revenue of $1.09 billion, which is down 6 percent from the previous quarter and 31 percent year over year. The company posted an operating loss of $98 million and a net loss of $146 million.
"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.”
Additionally, the company reported its:
- Computing Solutions segment revenue decreased 9 percent sequentially and 38 percent year-over-year. The sequential decrease was primarily due to lower desktop, notebook and chipset unit shipments. The year-over-year decline was driven primarily by lower unit shipments.
- Microprocessor Average Selling Price (ASP) increased sequentially and decreased year-over-year.
- Graphics segment revenue increased 3 percent sequentially and decreased 12 percent year-over-year. Graphics processor unit (GPU) revenue was flat sequentially and down year-over-year.
For the second quarter of 2013, AMD expects revenue to increase 2 percent, plus or minus 3 percent, sequentially.