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January 23, 2013

AMD reports 32% decline in Q4 revenue, net loss widens

Operating loss was $422m for the quarter.

By CBR Staff Writer

AMD has reported a 32% drop in revenue during the fourth quarter of 2012 to $1.16bn compared to $1.69bn in revenues reported during the corresponding quarter in 2011.

The company has reported a net loss of $473m, or $0.63 loss per share, compared to $177m, or $0.24 loss per share it reported in the same quarter the previous year.

Operating loss increased, rising to $422m for the quarter, compared to $71m for the same period in 2011.

Computing Solutions segment revenue decreased 11% to $829m for the quarter and Graphics segment revenue fell 5% to $326m.

For the current quarter, the company expects revenues to decrease about 9% to around $1.05bn from the fourth quarter.

AMD president and CEO Rory Read said: "The investments we are making in technology today are focused on leveraging our distinctive IP to drive growth in ultra low power client devices, semi-custom SoCs and dense servers."

"We expect to deliver differentiated and groundbreaking APUs to our customers in 2013 and remain focused on transforming our operating model to the business realities of today," he added.

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AMD expects its revenue to decrease 9% during the first quarter of 2013.

In October last year, AMD announced plans to lay off around 2,340 jobs, 20% to 30% of its total workforce.

Earlier this month, AMD sued four ex-employees, alleging they had stolen secret documents and traded secrets before joining its rival Nvidia.

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