AMD swings to loss in third quarter |
| MarketWatch - Oct 19, 2007 |
Advanced Micro Devices Inc. reported a bigger-than-expected loss, due in part to a $120 million charge related to its acquisition of ATI Technologies.
Shares of AMD were little changed in premarket action Friday. The stock closed Thursday at $14.55.
Late Thursday, the Sunnyvale, Calif.-based chipmaker said it lost $396 million on revenue of $1.63 billion in the quarter ended Sept. 29. This compares to a profit of $136 million on revenue of $1.33 billion in the same period last year.
The company reported a loss per share of 71 cents, compared to a profit of 27 cents per share in the same quarter last year. But the company said the ATI-related charges totaled 22 cents per share. AMD acquired ATI, one of the world's top makers of computer graphic cards, last year.
Read Full Article from MarketWatch
- Posted: 2007-10-19 10:23:58
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