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Thursday, October 14, 2010

AMD narrows loss, but spinoff weighs on chip maker

dvanced Micro Devices narrowed its third-quarter loss as the chip maker's remaining stake in factories it spun off last year dragged down the results.
Ignoring the baggage from the spinoff, AMD would have earned more than Wall Street expected, a sign the company is getting better at squeezing profit out of the remaining business.
Advanced Micro Devices Inc. reported after the market closed Thursday that it lost $118 million, or 17 cents per share, compared to $128 million, or 18 cents per share, a year ago.
Excluding one-time items, the company earned 12 cents per share. That was double the 6 cents per share that analysts expected, according to a survey by Thomson Reuters.
Revenue rose 16 percent to $1.62 billion, slightly higher than the $1.61 billion analysts expected.

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