AMD remains bullish on the future of Fusion

Microprocessor maker AMD delivered mixed second quarter results last night, but claimed things were heading in the right direction despite not having yet managed to find a new CEO to replace the ousted Dirk Meyer.

Sales revenue of $1.57 billion was down two per cent on Q1 and five per cent down on last year's Q2 - this despite the introduction of what acting CEO Thomas Seifert called the "most competitive client offerings" in the firm's history. Unfortunately for AMD, its Fusion APUs appeared at a time when the traditional PC market is under pressure, as the web goes mobile.

The firm said it made $61 million profit in the quarter delivering, earnings per share of $0.08 - compared with a loss in Q2 2010 of $43 million. Rival Intel - after what it previously described as the two best quarters in its history - this week posted what it called another record quarter - in terms of revenue, but a slip of around 5.5 per cent in gross margin to 62 per cent - a development which made investors uneasy. AMD's gross margin was 46 per cent - not bad for the also-ran and up one per cent over last year's numbers.

AMD remained confident that its upcoming quarterly results would be improved as its Fusion strategy really takes hold. It pointed out that its Llano and Brazos platforms set internal sales for mobile offerings. Server chip Bulldozer which is expected this quarter will also put a cat amongst Intel's pigeons, the company said.

The firm declined to comment on its ongoing search for a CEO.