Saturday, July 23, 2011

AMD sees profit in 2Q11

AMD has announced revenues for the second quarter of 2011 of US$1.57 billion, net income of US$61 million, or US$0.08 per share, and operating income of US$105 million. The company reported non-GAAP net income of US$70 million, or US$0.09 per share, and non-GAAP operating income of US$114 million.

In the second quarter, the company had a gross margin of 46% with its computing solutions segment revenues staying flat both sequentially and on-year. Sequentially, higher mobile processor revenues were offset by lower desktop and server revenues, while the on-year decrease was primarily driven by lower server revenues.

Meanwhile, graphics segment revenues decreased 11% sequentially and 17% on year. The sequential decrease was driven primarily by lower discrete mobile shipments and seasonality in the desktop discrete graphics add-in board market. The annual decrease was primarily driven by lower shipments.

For the third quarter, AMD expects revenues to increase 10%, plus or minus 2pp, sequentially.

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