Advanced Micro Devices Inc. (AMD) on Thursday reported a narrower loss in its second quarter, and fell short of analysts' expectations.
The Sunnyvale, California-based company posted a loss of $36 million, or 5 cents per share, compared with a loss of $74 million, or 10 cents per share, in the same quarter a year earlier.
Earnings, adjusted for extinguished debt and amortization costs, came to 2 cents per share. The average per-share estimate of analysts surveyed by Zacks Investment Research was for profit of 3 cents.
The chipmaker said revenue climbed 24 percent to $1.44 billion from $1.16 billion in the same quarter a year ago. The results matched Wall Street forecasts.
Advanced Micro Devices shares have increased 70 cents, or 18 percent, to $4.57 since the beginning of the year. However, the stock has decreased 7 cents, or 1.5 percent, in the last 12 months.
This story was generated automatically by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Full AMD report: http://www.zacks.com/registration/pfp/?ALERT=ZER_LINK&adid=ASSOCPRESS_CONTENT_ZER&d_alert=rd_final_rank&t=AMD
Keywords:Advanced Micro,Earnings Report