AMD Reports Another Hefty Loss: $358 Million In Q1
AMD has reported the sixth quarterly loss in a row. Q1 turned out to be another rough period for the company, resulted in a $358 million loss (including $50 million of ATI-related charges) on $1.51 billion of sales. Since Q4 2006, AMD has reported a total loss of $4.3 billion.
The company warned of lower than expected revenue on April 7.
The Q1 revenue was 22-percent above the Q1 2007 result, but 15-percent below of Q4 2007. The loss dropped from $611 million in Q1 2007 and $1.77 billion in Q4, which included a $1.68 billion write-off due to the decreased value of the ATI acquisition.
"A seasonally weak first quarter was amplified by a challenging economic environment for consumers and lower than expected revenues of previous generation products, resulting in lower than expected revenues in all business segments," said chief financial officer Bob Rivet in a statement. "However, we are encouraged by the market acceptance of our quad-core AMD Opteron server processors as well as our new chipset and graphics offerings."
AMD is expected to beginning laying off 3-5% of its staff today.
- Tesco launches new music store
- The Changing Face Of Low-Cost Notebooks: No Longer Big And Clunky
- LonelyGirl15 Creators Raise $5 Million In VC To Launch Production Company
- STEC Rebuffs Seagate's Patent Suit, Vows Fight To The Death
- Yahoo And Google To Move Ahead On Partnership
- Analysis: AMD Asset Lite Strategy Will Create MAD AMD
- European Union Clears Activision-Blizzard Merger As Industry Awaits Its New King
- Briton sneaks onto Iron Man set and does scene with Gwenyth Paltrow
- Fring VoIP for the iPhone: Why should you care?
- Overclockers Push 8-core Skulltrail To 6 GHz: Dual-socket Overclocking Confirmed
- AMD Asset Smart Caught In A Catch 22
- EA Extends Deadline For Acquisition Offer As Take Two Management Ducks And Weaves
- NVIDIA And AMD Vs. Intel: A New Graphics War Emerges That Should Have Been Avoided
- Google Sagging Stock Soars After Strong Q1
- RFID Industry Touts Accuracy And Speed In Tracking Both People And Products
- MSI Announces EeePC Competitor
- Lost In 3G iPhone Rumors? Here's What We Know.
- Concurrent Programming: A Solution For Multi-core Era?
hurry up and win that law suit against Intel.... looks like you need it.