AMD has announced Q3 earnings and analysts agree that the results were better than expected, despite the fact that AMD reported a net loss of $118 million.

Revenue was $1.62 billion, down 2 percent sequentially, but somewhat higher than Wall Street estimates. AMD’s gross margin was 46 percent, which managed to compensate for a drop in consumer demand.

AMD’s graphics business, or ATI as we’ll always call it, delivered $390 million in revenue with an operating income of $1 million.

The company announced that its ASPs dropped slightly and that it would introduce its first Fusion APUs sometime in Q4.