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AMD posts a net loss, but sales improve

Inching its way back to profitability

AMD has posted a net loss for the third quarter of 2010, but reported a boost in microprocessor and graphics products sales as it inches its way back to profitability.

The company reported a net loss of $118m (about £75m) for the quarter ending September 25, an improvement from the net loss of $128m (£80m) it reported in Q3 last year.

As part of the results, AMD reported a $186m equity loss related to its manufacturing spinoff, GlobalFoundries. Excluding that loss and other items, AMD would have reported a profit of $108m.

The company reported revenue of $1.62bn, which grew from $1.4bn in the year-ago quarter. Analysts polled by Thomson Reuters expected revenue for the quarter to be $1.61bn.

Revenue for the Computing Solutions segment, which includes revenue from microprocessor sales, was $1.23bn, growing 13 percent compared to the same quarter a year ago. Revenue for the graphics segment was $390m, growing by 33 percent.

Ahead of the earnings, AMD lowered its revenue forecast for the third quarter, citing weak demand for laptops in western Europe and North America.

Despite weakness in the consumer segment, the company continues to focus on new products, said Dirk Meyer, AMD's president and CEO, in a statement.

The company hopes to receive a boost later this quarter when it starts shipping its much-delayed Fusion family of chips, which could appear in PCs starting early next year. The chip integrates a graphics processor inside the CPU, which could save battery life on laptops and provide better graphics capabilities.

See also:

AMD lowers revenue forecast on weak laptop sales

AMD Fusion netbooks coming next year

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