AMD 3Q loss deeper than expected
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Advanced Micro Devices Inc.'s losses were deeper than analysts feared in the third quarter, but the slumping chip maker said stronger sales of microprocessors and improving cost controls are now helping lift the company out of its financial doldrums.
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Advanced Micro Devices  (AMD), the world's second-largest maker of computer microprocessors, posted a wider quarterly loss on Thursday due to a $1.68 billion charge from its purchase of graphics chipmaker ATI.
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Blog: Bad: AMD lost $600 million in the second quarter. Good: Chip shipments surged.
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Lobbing olive branch to Wall Street Sometimes, experts don't know what they're talking about. Just ask AMD, which over the past 12 months has had to endure second-guessing from financial analysts and industry pundits about slumping market share, a string of financial losses, and costly distribution and design gaffes.â¦
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SAN FRANCISCO - Advanced Micro Devices Inc. (AMD) expects to report slightly lower-than-expected sales for its third quarter when it announces earnings results on Thursday, the company said in a release Monday.
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By From news reports  Advanced Micro Devices warned Monday that it was unlikely to meet its first-quarter revenue target of $1.6 billion to $1.7 billion, the latest in a series of disappointments for the struggling chip maker.
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Earnings up... Chip monster Intel is upping its guidance for the third quarter - the day arch-rival AMD launches its Barcelona chip.â¦
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The traditional third-quarter bump is light for the chipmaker, as lower-than-expected PC sales offset flash memory gains.
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Advanced Micro Devices Inc  , the world's second-largest maker of computer  microprocessors, on Thursday posted a wider quarterly net loss  due to a $1.68 billion charge related to its purchase of  graphics chipmaker ATI.
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AMD has delayed general availability of some key products until early next year, when it projects the chips, along with other new processors, will return it to profitability.The biggest hit went to its quad-core microprocessor, code-named Barcelona, which it needs to compete against Intel among server vendors. The chips, along with AMD&#39;s desktop platform, Phenom, won&#39;t be generally available to customers until the first quarter of next year. The products were supposed to ship in volume by the end of this year, but&#160;a technical design error in the chips caused AMD to slow the schedule so it could apply a fix, said Dirk Meyer, the company&#39;s president and COO in a meeting with analysts on Thursday.The company&#39;s Puma platform, a set of chips aimed at laptop PCs, will also be delayed until the second quarter of next year, a costly miss considering the fact that the laptop PC market is growing at around 30 percent per year.AMD also reduced its planned spending on new production lines to $1.1 billion from a previous estimate of $1.7 billion and said all its business divisions wouldn&#39;t return to profitability until next year.The statements caused AMD&#39;s stock to fall as much as 5 percent during early trading on the New York Stock Exchange, before rebounding to down just 1.8 percent, at $8.81 in the afternoon. The market was still open as of this writing.AMD executives apologized for missteps, such as the delay in Barcelona.&quot;We blew it, we&#39;re very humbled by it, we learned from it, and we&#39;re not going to do it again,&quot; said Hector Ruiz, chairman and CEO of AMD. He said AMD would go back to its habit of under-promising and over-delivering.To start, the company will be on a path to break even financially by the second quarter of next year and return to profitability by the end of the third quarter, he said. The financial performance will be boosted by the launch of several new products in graphics, chipsets, digital TV processors, and more, not including the delayed products.The company forecast its processor shipments will rise at least 15 percent next year, while graphics processor shipment growth will be greater than 6 percent, digital TV processors more than 13 percent, and handheld chips up 8 percent.AMD&#39;s gross margin will rise to between 46 percent and 50 percent next year, up from 37 percent during the past four quarters, said Bob Rivet, chief financial officer of AMD.&quot;We&#8217;re in a massive product refresh. In 2007, we were living on some old stuff. 2008 is all new stuff, and we believe it will yield goodness,&quot; he said.
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Advanced Micro Devices (NYSE: AMD) continues to plug away at microprocessor rival Intel&#39;s (Nasdaq: INTC) lead, which once seemed insurmountable.
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(InfoWorld) - AMD will delay its launch of the Barcelona quad-core Opteron server chip from its expected date in July until October, setting the company back in its effort to compete with new processors from Intel, according to analyst reports. Processor companies make more money selling server chips than desktop or laptop chips, so the move will hit AMD's 2007 earnings hard, pushing the company to lose $2.59 per share instead of only $2.48 per share, according to a report released Tuesday by Citigroup analyst Glen Yeung. "Barcelona is generally viewed to beÂ AMD's best opportunity to stem server share loss to Intel. While AMD's recent notebook win at Toshiba may balance any negative revenue implications to our current model, Barcelona's delay has negative implications for AMD's gross margin," Yeung wrote. His estimate is a larger loss than the consensus Thomson Financial forecast that AMD will lose $2.47 per share for 2007. The news comes at a bad time for AMD, which has promised for months that it would launch the chip in the second half of 2007,Â helping the company to rebound from the effects of a price war with Intel. AMD is already hurting,Â posting a $611 million first-quarter lossÂ in April, following on the heels of theÂ $574 million loss reported in JanuaryÂ for fourth quarter earnings last year. Barcelona is the key to taking that fiscal burden off AMD's shoulders,Â AMD CEO Hector Ruiz said on May 3 at the company's annual shareholder meeting. Although Intel is several quarters ahead in improving its chip manufacturing capabilities, AMD stays competitive by creating more innovative designs, he said. AMD claims Barcelona will deliver better performance on memory-intensive applications than Intel's Clovertown quad-core Xeon server chips that have been on the market since November. AMD stuck to its guns on Wednesday, insisting that it is still on schedule, and pointing as evidence to itsÂ demonstration on Tuesday of prototype Barcelona chips in serversÂ from infrastructure partners Supermicro Computer, Tyan Computer, and Uniwide Technologies at theÂ Computex trade show in Taipei. "We remain on track for a summer 2007 launch with partners shipping platforms in the third quarter," said AMD spokeswoman Marian Kelley. She blamed the delay rumors on Cray's announcement Monday that it expects revenue to drop because of a delay in shipping its quad-core Cray XT4 systems. In fact, Cray was referring to AMD's midrange Budapest processor, not Barcelona, she said. "The guidance that we've been giving and that we're sticking to is that Budapest will follow Barcelona in the second half of 2007," Kelley said. Despite AMD's assurances, other analysts echoed the Citigroup report, saying they have heard similar news from server vendors, distributors and board makers. On May 30, another report called AMD's promise to launch Barcelona in mid-2007 "a head fake" since the chip will not be available at full volume until August at the earliest, according to a note from analyst Patrick Wang at Thomas Weisel Partners. In contrast, Intel is expected to succeed in shipping its Penryn processors in the late third quarter or early fourth quarter. That timing will allow Intel to essentially catch up to AMD and soften the blow of losing sales to customers who see a performance advantage in Barcelona, Wang said.
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Advanced Micro Devices on Thursday reported a heavy loss for its fourth quarter, due mostly to charges connected to its acquisition of graphics chip maker ATI.
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Shares of chip maker Advanced Micro Devices Inc. plummeted more than 20 percent in Tuesday trading after the company warned that its fourth-quarter operating income will be "down significantly" from the third quarter.
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Plus: IBM, Yahoo post high...AMD posts loss...Sony TV unit struggling...Nokia on upswing...Apple beats expectations.
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Advanced Micro Devices yesterday warned that revenues in the third quarter would be lower than earlier forecasts, echoing a similar statement from Intel last month - its biggest rival in the chip sector.
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America West Holdings Corp. on Wednesday posted a third-quarter loss and forecast losses going forward as soaring fuel prices, weak revenue and excess industry