AMD said Monday it expects second-quarter revenue to lag its previous guidance, weighed down by weaker-than-expected consumer demand for PCs. The company is now expecting second-quarter revenue to be down about 8% from the first quarter, compared with earlier guidance of a decline of just 3%, plus or minus 3%. AMD is expecting its adjusted gross margin to be about 28%, below earlier guidance of 32%, also because of PC weakness. It expects margins to be further hit by a $33 million charge for a technology node transition. Cash and cash equivalents are expected to total about $830 million by end quarter, in line with expectations. Shares were halted in after-hours trade, but closed the floor session down 2.4%.
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