AMD Reports $590 Million Loss in Q1, Still Thumbs Nose at Wall Street
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Scanning AMD's financial report for the first quarter of 2012, you would think the Sunnyvale chip maker is in big trouble. Revenue was $1.59 billion, a nice number if not for the fact that it represents a net loss of $590 million, or $0.80 cents per share, along with an operating loss of $580 million. That's a 6 percent sequential decrease and a 2 percent decrease year-over-year. Non-GAAP earnings were $0.12 a share. So why wouldn't investors want to hit the panic button?
For starters, AMD topped Wall Street's expectations. Wall Street was bracing itself for AMD to report non-GAAP earnings of $0.09 cents a share on revenue of $1.56 billion, so things didn't shake out as bad as they could hav... »read more
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