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AMD Posts Sharply Higher Sales

Wall Street Journal - Jul 15, 2010

Advanced Micro Devices Inc. (AMD) posted a 40% jump in second-quarter revenue on strong demand for chips used in laptop computers, though the company posted a net loss due to costs associated with a manufacturing spinoff.

The company, which competes with rival Intel Corp. (INTC) in microprocessor chips, said it is benefiting both from sales of those products as well as chips called graphics processing units--or GPUs--that help PCs perform chores that include running videogames. AMD said it also expects revenue to be up "seasonally" in the third quarter.

AMD's remarks came two days after Intel reported record results for the quarter. Intel said it experienced strong sales of chips for server systems.

AMD has also introduced new chips for servers, but the company said average selling prices were flat in the second quarter compared with the first. Dirk Meyer, AMD's chief executive officer, said it also experienced strong server-chip sales but said it expects the benefits of the new products to "fully materialize" in the third quarter.

Read Full Article from Wall Street Journal

- Posted: 2010-07-15 19:59:47

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