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AMD Reports Net Loss Of $590m

AMD has just made its latest financials available, and the figures for the first quarter of 2012 don't make for particularly good reading.

Total revenue for the quarter was $1.59 billion, which was 6 per cent down on the previous quarter, and 2 per cent down year-on-year. The company made a net loss of $590 million or $0.80 per share, and an operating loss of $580 million.

AMD was undaunted by the results, though, and asserted that the figures were solid enough.

Rory Read, AMD president and CEO, commented: "AMD delivered solid results in the first quarter as we remain focused on improving our execution, delivering innovative products, and building a company around a strategy to deliver strong cash flow and earnings growth."

"A complete top-to-bottom introduction of new APU offerings, combined with ample product supply resulting from continued progress with our manufacturing partners, positions us to win and grow."

The firm also noted that its first quarter last year had 14 weeks of business, compared to 13 weeks this year - a fair point to make.

Computing Solutions revenue was flat year-on-year, but down 8 per cent from the previous quarter, that decrease being driven by seasonally lower sales in the client business, AMD noted.

Graphics revenue was the bigger disappointment, down 7 per cent year-on-year, with AMD's latest boards not making the impact the company would have liked to have seen.