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AMD reveals Q1 2015 results – and they’re not good

AMD has revealed its first quarter of 2015 results, and they’re pretty lacklustre, sadly.

Revenue for Q1 hit $1.03 billion (£667 million) – which was down 17 per cent on the previous quarter, and 26 per cent year-on-year – with an operating loss of $137 million (£91 million) and net loss of $180 million (£120 million) recorded. That net loss represented a loss per share of $0.23.

AMD said its gross margin was 32 per cent, which was up 3 per cent on the previous quarter.

Computing and graphics revenue was, however, down 38 per cent year-on-year, with AMD blaming the downturn in desktop and notebook processor sales.

AMD further noted that its cash and cash equivalents now total $906 million (£603 million), having shrunk $134 million (£89 million) from the end of the previous quarter. Total debt stood at $2.27 billion (£1.51 billion).

Dr. Lisa Su, AMD president and CEO, commented: “Building great products, driving deeper customer relationships and simplifying our business remain the right long-term steps to strengthen AMD and improve our financial performance. Under the backdrop of a challenging PC environment, we are focused on improving our near-term financial results and delivering a stronger second half of the year based on completing our work to rebalance channel inventories and shipping strong new products.”