Shares of Advanced Micro Devices Inc. sank in Thursday's extended session after the chip maker reported its quarterly loss widened from the previous year. AMD said its third-quarter loss deepened to $406 million, or 50 cents a share, from a loss of $197 million, or 25 cents a share, a year ago. On an adjusted basis, the company would have earned 3 cents a share. Revenue grew to $1.31 billion versus $1.06 billion in the same period last year. Analysts had forecast AMD to break even on a per-share basis on revenue of $1.21 billion, according to FactSet. In the fourth quarter, AMD expects its revenue to shrink 18%, plus or minus 3%, sequentially. The current Wall Street outlook on AMD's fourth-quarter revenue is $1.06 billion. Shares fell 1.6% after hours, paring earlier slide.
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