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AMD 2Q loss widens, worse than analyst forecast
SUNNYVALE, Calif.
Advanced Micro Devices Inc. said Thursday its second-quarter loss widened as the computer chip maker was hurt by a large asset impairment charge from discontinued operations.
Sunnyvale-based AMD reported a loss of $1.19 billion, or $1.96 per share, in the quarter that ended June 28. The world's No. 2 maker of computer microprocessors lost $600 million, or $1.09 per share, in the year-ago quarter.
The company's adjusted loss totaled 60 cents per share. Analysts polled by Thomson Financial had expected an adjusted loss of 52 cents per share.
AMD's revenue rose to $1.35 billion from $1.31 billion, but it was short of the $1.45 billion in revenue expected on Wall Street.
The company's revenue from microprocessors, chipsets and embedded processors was flat year over year at $1.10 billion, while revenue from AMD's graphics segment -- which includes graphics, video and multimedia products -- rose more than 17 percent to $248 million.
AMD's results included a loss of $920 million, or $1.52 per share, from discontinued operations. In a statement, AMD Chief Financial Officer Robert J. Rivet said the company "had a disappointing quarter financially" but that customer interest in its newer microprocessor and graphics products and platform offerings "is strong."
In the third quarter, AMD expects revenue to rise along normal seasonal patterns. In the third quarter of last year, AMD reported $1.63 billion in revenue. This time, analysts are looking for $1.60 billion in revenue.
AMD shares fell 20 cents, or 3.8 percent, to $5.10 in after-hours trading. The stock finished trading Thursday up 24 cents, or 4.7 percent, at $5.30.
Ruiz Out, Meyer In At AMD
ByDamon Poeter, ChannelWeb
5:50 PM EDT Thu. Jul. 17, 2008
Hector Ruiz is out as chief executive at Advanced Micro Devices (NYSE:AMD) as the struggling chipmaker on Thursday reported its seventh consecutive quarter in the redto the tune of a $1.19 billion loss in the second quarter of this year.Dirk Meyer, Sunnyvale, Calif.-based AMD's president and chief operatingofficer, has been elected by AMD's board to replace Ruiz as CEO,according to the company.Ruiz joined Sunnyvale, Calif.-based AMD as president and COO inJanuary 2000 following a 22-year career with Motorola, where he hadbeen president of the company's Semiconductor Products Sector. Ruizwill stay on in a director's capacity at AMD, he said on Thursday's Q2earnings call, where the news was announced at about 2pm PT.
AMD's second quarter was described as "a tough one" by AMDchief financial officer Robert Rivet. Over $1 billion in lossesincluded an $880 billion writedown to the company's consumerelectronics business, reported last Friday by AMD. The company hasdecided to divest its Handheld and DTV product businesses, which represented $920 million in losses over the just concluded quarter.
Meyer, like Ruiz, has an engineering background. He was co-architect ofthe Alpha 21064 and 21264 microprocessors at Digital Equipment Corp.,where he worked for nearly a decade before joining AMD in 1995. He ledengineering for the Athlonmicroprocessor at AMD and in April 1999 was named VP of engineering. Hebecame a group vice president and GM of AMD's microprocessor businessin 2001 and the following year was named an executive officer.
Asked if there would be strategic changes at AMD with hispromotion, Meyer stressed his respect for Ruiz and the collegial natureof their partnership in running the company, but added that, "Lookingforward, there will certainly be some changes."
[ 本帖最后由 Prescott 于 2008-7-18 06:57 编辑 ] |
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发表于 2008-7-18 06:51
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