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AMD posts sixth straight quarterly net loss
Advanced Micro Devices Inc posted its sixth consecutive quarterly net loss on Thursday as the chip maker continued to lose market share to far larger rival Intel Corp. But shares of the company ticked higher in extended trading as its general comments on the second quarter were in line with normal seasonal trends.
AMD, which lost market share to Intel last year as its chip-making technology lagged that of its larger rival, said its first-quarter net loss actually narrowed to $358 million, or 59 cents a share, from $611.0 million, or $1.11 a share, a year ago. Revenue advanced 22 percent to $1.51 billion from $1.23 billion. AMD's adjusted loss per share was 51 cents, compared with analysts' average expectation of a loss of 47 cents, according to Reuters Estimates. Revenue was pegged at $1.50 billion. The poor results came even as Intel and other high-tech companies like International Business Machines Corp have so far posted generally positive earnings.
Posted by | Fri, Apr 18, 2008 - 05:37 AM
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