Featured Articles

LG G Watch R ships in two weeks

LG G Watch R ships in two weeks

The LG G Watch R, the first Android Wear watch with a truly round face, is coming soon and judging by…

More...
LG unveils NUCLUN big.LITTLE SoC

LG unveils NUCLUN big.LITTLE SoC

LG has officially announced its first smartphone SoC, the NUCLUN, formerly known as the Odin.

More...
Microsoft moves 2.4 million Xbox Ones

Microsoft moves 2.4 million Xbox Ones

Microsoft has announced that it move 2.4 million consoles in fiscal year 2015 Q1. The announcement came with the latest financial…

More...
Gainward GTX 970 Phantom previewed

Gainward GTX 970 Phantom previewed

Nvidia has released two new graphics cards based on its latest Maxwell GPU architecture. The Geforce GTX 970 and Geforce GTX…

More...
EVGA GTX 970 SC ACX 2.0 reviewed

EVGA GTX 970 SC ACX 2.0 reviewed

Nvidia has released two new graphics cards based on its latest Maxwell GPU architecture. The Geforce GTX 970 and Geforce GTX…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Friday, 20 July 2012 11:05

AMD shares fall on bad results

Written by Nick Farrell



Fell sort of expectations


AMD's shares fell after the company reported that it missed Wall Street's gloomy profit estimates and predicted more doom to follow.

Shares of AMD fell 2.3 per cent and you can pick up a second hand one in a back ally for $4.75. AMD's second-quarter profit fell to $37 million from $61 million, a year ago and its revenue declined to $1.41 billion from $1.57 billion last year.

Earlier in the month, the chip maker warned it expected an 11 per cent sequential decline in sales, compared with a previous forecast of a 3 per cent rise. This was due to softer-than-expected sales in China and Europe along with weaker consumer demand, AMD said. AMD thinks that things will get worse in the third-quarter. AMD forecast a sequential decline in revenue for the third quarter by 1 per cent.

Rory Read, AMD president and chief executive in a statement that the chipmaker was taking definitive steps to improve its performance and correct the issues within our control. However he is expecting headwinds will continue in the third quarter  and there might be a few giant squid and the odd mermaid attack along the way.

What is worrying some analysts is that AMD's inventory grew significantly over the quarter by about 42 per cent.

Nick Farrell

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments