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AMD posts better than expected earnings

Still not in the black, but doing better

AMD reported its quarterly earnings on Thursday and despite the fact that the chipmaker failed to turn a profit, the results are better than expected.

The company posted a net loss of $590 million, largely attributed to one-time charges. Sans a $703 million charge resulting from the Globalfoundries spin off, AMD’s income hit $92 million.

Total revenue was $1.59 billion, slightly higher than the $1.56 forecast, but still two percent short of last year’s $1.61 billion.

AMD is upbeat about its prospects in Q2. The company expects a 6 percent revenue increase in the traditionally slow quarter, beating analysts’ expectations once again.

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