AMD Reports First Quarter 2009 Results – Loss of $416 million
AMD reported revenue for first quarter of 2009 of $1.177 billion. First quarter 2009 revenue was flat compared to the fourth quarter of 2008 and decreased 21 percent compared to the first quarter of 2008. This means that AMD lost $416 million, or 66 cents per share, in the opening three months of the year. It wasn’t as bad as Wall Street projected though, which I guess is a good thing.
AMDs sequential microprocessor unit and revenue growth in difficult economic conditions demonstrate we can grow in an environment where customers are looking for maximum value, said Dirk Meyer, AMD president and CEO. We delivered on a number of important priorities in the first quarter. We launched GLOBALFOUNDRIES, maintained our cadence of new product and platform introductions, and made solid progress on our restructuring activities. The result is a more nimble AMD, capable of achieving long-term success based on our strengths designing and integrating industry-leading computing and graphics technologies.
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