AMD is in the Green again
Okay, that sounded a little narly. But good news for AMD as they have managed to achieve a net income of $48 million on revenue of $1.46 billion, this would be the company's first profit since Q2 2012. A good chunk of profit came from a sale-and-leaseback operation of AMD's Singapore facility that netted the company $22 million.
Non-GAAP net income came in at $31 million. AMD's computing solutions (aka processors) sales fell from $841 million to $790 million versus the previous quarter, while graphics and visual solutions revenue soared from $320 million to $671 million in the same timeframe. The large increase in GPU sales is thanks to AMD's deals with Microsoft and Sony for the next-gen consoles, AMD stated that that sales of GPUs for PCs fell sequentially and year-over-year.
AMD (NYSE: AMD) today announced revenue for the third quarter of 2013 of $1.46 billion, operating income of $95 million and net income of $48 million, or $0.06 per share. The company reported non-GAAP operating income of $78 million and non-GAAP net income of $31 million, or $0.04 per share.
"AMD returned to profitability and generated free cash flow in the third quarter as we continued to successfully execute the strategic transformation plan we outlined a year ago," said Rory Read, AMD president and CEO. "We achieved 26 percent sequential revenue growth driven by our semi-custom business and remain committed to generating approximately 50 percent of revenue from high-growth markets over the next two years. Developing industry-leading technology remains at our core, and we are in the middle of a multi-year journey to redefine AMD as a leader across a more diverse set of growth markets."
Senior Member
Posts: 1472
Joined: 2013-10-13
Fantastic news. As gamers we need BOTH hardware vendors to be in good shape.
Competition is what creates value.
Senior Member
Posts: 6814
Joined: 2006-01-18
Here's the problem, they only got a temporary green thanks to their leasing; the next quarters will have to show real results.
Senior Member
Posts: 7193
Joined: 2006-09-24
well w/o leasing they would have been on plus too just not as much from what I read?

Senior Member
Posts: 3580
Joined: 2009-01-03
Well they need to pay down their debt it's 1.5-2.0 billion
http://allthingsd.com/20130130/fitch-downgrades-amd-debt-from-meh-to-almost-hopeless/
Senior Member
Posts: 6227
Joined: 2010-10-17
Yay!