Sunnyvale (CA) – AMD was able to increase its revenues by 18% in the third quarter, but remained deep in the red: The company reported a net loss of $396 million.
AMD said that its revenues increased to $1.632 billion, which translates into 18% growth sequentially, and 23% year over year. Q3 2006, however, did not include revenues generated by the firm’s graphics, chipset and consumer electronics units (ATI).
The net loss was $396 million, an improvement over $600 million net loss reported by the company for Q2 2007. The result includes $120 million in ATI acquisition-related charges, integration and severance charges of $78 million and asset impairments of $42 million associated with our ownership of Spansion common stock.
“We are encouraged by the progress we made in our third quarter financial results. We delivered a strong revenue increase, gained 8 percentage points of gross margin and reduced our operating loss by more than half,” said Robert Rivet, AMD’s chief financial officer, in a prepared statement. “We sold a record number of microprocessors through our distribution channel and began revenue shipments of quad-core AMD Opteron processors in the quarter.
AMD said that its revenues increased to $1.632 billion, which translates into 18% growth sequentially, and 23% year over year. Q3 2006, however, did not include revenues generated by the firm’s graphics, chipset and consumer electronics units (ATI).
The net loss was $396 million, an improvement over $600 million net loss reported by the company for Q2 2007. The result includes $120 million in ATI acquisition-related charges, integration and severance charges of $78 million and asset impairments of $42 million associated with our ownership of Spansion common stock.
“We are encouraged by the progress we made in our third quarter financial results. We delivered a strong revenue increase, gained 8 percentage points of gross margin and reduced our operating loss by more than half,” said Robert Rivet, AMD’s chief financial officer, in a prepared statement. “We sold a record number of microprocessors through our distribution channel and began revenue shipments of quad-core AMD Opteron processors in the quarter.