Advanced Micro Devices (NYSE:AMD) saw its profit decline in the second quarter.
Earnings and Revenue The company's revenues met Wall Street's expectations, though the company's EPS fell short of predictions. The company reported EPS of 5 cents a share versus the 7 cents a share estimate and revenues of $1.41 billion versus the $1.41 billion estimate. The estimates of 26 analysts ranged from profit of 5 cents to profit of 16 cents.
The company's net income for the quarter was $37 million. This is a 39.3% decline from last year. Revenue fell 10.4% from $1.57 billion in the same period last year.
Company Fundamental Trends The company's profit in the latest quarter comes on the heels of losses in the previous two quarters. In the first, The company reported a net loss of $590 million while losses totaled $177 million in the fourth quarter of the last fiscal year. Revenue declined last quarter after shrinking 1.7% to $1.58 billion in the first quarter.
History Against Expectations The company missed forecasts after topping estimates in the previous two quarters. In the first quarter, it topped the mark by 3 cents, and in the fourth quarter of the last fiscal year, it was ahead by 3 cents.
Estimates provided by Zacks Investment Research and company fundamentals from Xignite Financials.