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October 31, 2011

AMD reports 7% rise in Q3 revenue

Expects revenue to increase around 3%, sequentially for the fourth quarter of 2011

By CBR Staff Writer

Microelctronics firm AMD has reported revenue of $1.69b for the third quarter of 2011, up 7% from $1.62b in the same quarter previous year.

The company posted a net income of $97m, or $0.13 per share in the third quarter of 2011, compared with a net loss of $118m, or $0.17 in the prior year’s same quarter.

AMD’s operating income was $138m in the third quarter of 2011, up 7.8% compared with $128m in the same quarter of 2010.

The company also reported non-GAAP net income of $110m, or $0.15 per share, and non-GAAP operating income of $146m.

AMD president and CEO Rory Read said strong adoption of AMD APUs drove a 35% of sequential revenue increase in their mobile business.

"Despite supply constraints, we saw double digit revenue and unit shipment growth in emerging markets like China and India as well as overall notebook share gains in retail at mainstream price points," Read said.

The company’s gross margin was 45% for the third quarter, while its cash, cash equivalents and marketable securities balance, including long-term marketable securities, was $1.86b at the end of the quarter.

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Computing solutions segment revenue increased 5% year-over-year and 6% sequentially, while graphics segment revenue increased 4% year-over-year and 10% sequentially.

AMD expects revenue to increase 3%, plus or minus 2%, sequentially for the fourth quarter of 2011.

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