News Column

AMD Reports Q2 Losses

Jul 18 2013 5:23PM

Staff Reports --

AMD (NYSE:AMD) announced revenue for the second quarter of 2013 of $1.16 billion on Friday, for an operating loss of $29 million and a net loss of $74 million, or 10 cents a share. The company reported a non-GAAP operating loss of $20 million and a non-GAAP net loss of $65 million, or 9 cents a share.

"Our focus on restructuring and transforming AMD resulted in improved financial results," Rory Read, AMD president and CEO, said in a statement. "Our performance in the second quarter was driven by opportunities in our new high-growth and traditional PC businesses."

He said the company expects "significant revenue growth and a return to profitability in the third quarter."

In other news, AMD's Graphics reportable segment has been renamed Graphics and Visual Solutions for the sake of clarity and to reflect the growing importance of gaming and semi-custom offerings, the company reported. There is no change to the composition of this reportable segment from what was previously reported.

Source: (c) 2013. All rights reserved.

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