AMD consolidates profit-making habit

Advanced Micro Devices (AMD), has revealed it managed to make a profit again in its first fiscal quarter of 2010.

The fabless chip maker said revenue for the quarter endiing on March 27 amounted to $1.57 billion - a record CEO and president Dirk Meyer said. It made $257 million net profit on the deal ($0.35 per share).

Meyer crowed: “Strong product offerings and solid operating performance resulted in record first quarter revenue.

“We continue to strengthen our product offerings. We launched our latest generation of server platforms, expanded our family of DirectX 11-compatible graphics offerings, and commenced shipments of our next-generation notebook platforms to customers,” the statement said he said.

AMD said its gross margins were 47 per cent. Intel said its margins were over 60 per cent. That chip maker made more than $2.4 billion profit over the quarter.

AMD recognised a one-time, non-cash gain of $325 million in the quarter, related to its deconsolidation of GlobalFoundries Inc..