Chipmaker AMD gives third-quarter revenue forecast above Street

By Noel Randewich

SAN FRANCISCO (Reuters) - Advanced Micro Devices said on Thursday it expects third-quarter revenue to rise 22 percent on a sequential basis, exceeding Wall Street expectations, as it expands into new game consoles and other new markets to offset a slowing PC industry.

AMD reported on Thursday second-quarter revenue of $1.161 billion, down from $1.413 billion in the year-ago quarter. It said third-quarter revenue would rise 22 percent, plus or minus 3 percent, compared with the June quarter. That increase would be about $1.416 billion.

Analysts, on average, had expected second-quarter revenue of $1.108 billion and third-quarter revenue of $1.223 billion, according to Thomson Reuters I/B/E/S.

AMD said in a statement that it had a net loss of $74 million, or 10 cents a share, in the second quarter, compared with a profit of $37 million, or 5 cents a share, in the same quarter last year.

The company said its non-GAAP loss per share was 9 cents, better than the 12-cent loss expected by analysts.

AMD's stock, which has rallied in recent months, declined 2.80 percent in extended trade after closing up 5.94 percent at $4.64.

(Reporting by Noel Randewich)

Source: http://news.yahoo.com/chipmaker-amds-second-quarter-revenue-beats-expectations-202049379.html

kate spade danny green danny green Magna Carta Holy Grail true blood fathers day Mac