Sunnyvale (CA) - AMD announced its seventh consecutive quarterly loss. The company lost $1.189 billion during the quarter, including a $920 million write down of ATI operations. Rumors are flying, indicating that AMD will make a big announcement during the Q2 conference call scheduled to be held this afternoon. AMD late-trade shares have been halted.

AMD posted what the company called yet another "disappointing" quarter. The company reported AMD revenue of $1.309 billion and a loss of $1.189 billion, including an impairment charge relating to the ATI acquisition of $920 million. The loss from continuing operations was $269 million. The result also included $190 million of proceeds from the sale of 200 mm production equipment, indicating that AMD’s loss without these gains would have been closer to $450 million.

For the first quarter of this year, AMD reported revenue of $1.456 billion and a net loss of $358 million.

The company said that microprocessor unit shipments and average selling prices were down sequentially and flat year over year. GPU units were down sequentially and up year over year. Average selling prices were flat with Q1 and down year over year.

Following the announcement, we heard rumors that AMD may be making a big announcement during the conference call, which is generally expected to cover the firm’s "Asset Light" strategy - and the sell-off of the company’s factories as well as a potential departure of chief executive officer Hector Ruiz.
Trading of AMD shares has been halted at a price of $5.30 per share.