toggle

AAPL Stock: 111.96 ( -0.96 )

Printed from http://www.macnn.com

Fusion chips help push AMD quarterly profits to $61m

updated 06:55 pm EDT, Thu July 21, 2011

Financial results exceed expectations

AMD has posted its second-quarter financial results, which point to a net income of $61 million from total revenues of $1.57 billion. The company appears to have returned to profitability, as the latest quarter compares to a net loss of $43 million for the same period last year, however overall revenue was down by 4.8 percent.

Despite the company's turnaround in profits, its graphics segment showed lackluster performance as revenue slid by 11 percent. The drop was blamed on lower shipments of discrete graphics components for mobile devices.

AMD CFO and interim CEO Thomas Seifert highlighted the company's Fusion chips as a strong seller, which the company expects to continue to gain market share. For the third quarter, the company expects its revenue to increase by approximately 10 percent.

The second-quarter results were paired with Seifert's comments, as the company still lacks a permanent CEO to fill Dirk Meyer's shoes after the former executive departed amid disagreements with the board of directors. The company has yet to name a potential candidate to fill the position, which has been empty for the better part of a year.




by MacNN Staff

POST TOOLS:

TAGS :

toggle

Comments

Login Here

Not a member of the MacNN forums? Register now for free.

toggle

Network Headlines

Follow us on Facebook

toggle

Most Popular

Advertisement

Recent Reviews

ZTE Spro 2 Smart Projector

Home theaters are becoming more and more accessible these days, but maybe you've been a bit wary about buying a home projector. And h ...

MSI Geforce GTX 970 100ME

When Nvidia announced a new line of video cards in September 2014, many people thought things would continue to be business as usual i ...

Wren V5US Wireless Sound System

If you're a music fanatic, chances are you are, by extension, a bit fanatical about what you listen to your music on. If you're like ...

toggle

Most Commented