Advanced Micro Devices pares 1Q loss as sales grow
Advanced Micro Devices posts smaller 1st-qtr loss as sales of visual and graphics chips surge
NEW YORK (AP) -- Chipmaker Advanced Micro Devices said Thursday it took a smaller loss in the first quarter as sales of visual and graphics chips climbed.
The company said revenue from its graphics and visual solutions business more than doubled compared to a year ago. AMD said it lost $20 million, or 3 cents per share, after it took a loss of $146 million, or 19 cents per share, in 2013. The company said it earned 2 cents per share if one-time items are excluded. Revenue grew 28 percent, to $1.4 billion from $1.09 billion.
FactSet says analysts expected the company to break even while reporting $1.34 billion in revenue.
Shares of Advanced Micro Devices Inc. gained 23 cents, or 6.2 percent, to $3.92 in aftermarket trading following the release of the earnings report.
The Sunnyvale, Calif., company said it expects about $1.44 billion in revenue in the current quarter. It reported $1.16 billion in revenue in the second quarter of 2013, and analysts are forecasting $1.35 billion on average.