AMD's quarterly revenue tops estimates

Chipmaker Advanced Micro Devices posted higher-than-expected fourth-quarter revenue of $1.16 billion and a net loss of $473 million, or 63 cents a share, as it struggles with falling PC sales and consumers' growing preferences for smartphones and tablets.

In its report on Tuesday, AMD estimated revenue in the current first quarter would fall 9 percent from the fourth quarter, plus or minus 3 percent.

Analysts had expected $1.149 billion in revenue for the December quarter, according to Thomson Reuters I/B/E/S.

(Reporting By Noel Randewich)