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AMD records profit after leap in CPU sales

Whittling away at Intel

Intel's poor performance in the last three months of 2005 turned out to be good news for rival chipmaker AMD, which yesterday reported better-than-expected financial results for the period. With sales of AMD's microprocessor division increasing nearly 80 percent from the previous year, the company reported revenue of $1.84bn (about £1.04bn).

AMD's fourth quarter 2005 revenue was up 45 percent year-on-year, and the company went from losing $30m (£17m) during Q4 2004 to reporting a profit of $96m (£54m), or $0.24 per share, during this most recent quarter. Excluding $110m (£62m) in costs related to the initial public offering of AMD's Spansion flash memory division, the company's profit was $205m (£116m) or $0.45 per share.

The revenue numbers were well ahead of Wall Street expectations. Analysts had expected revenue for the quarter to total $1.67bn (£946m), according to a survey of 29 analysts by Thomson First Call.

Investors had been expecting good things from AMD. While Intel's stock was down more than 11 percent yesterday, closing at $22.60, AMD shares rose by nearly 4 percent on the day, closing at $34.15, and continued to rise in after-hours trading following the announcement of AMD's results.


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