AMD makes profit again

AMD announced a first quarter profit of $257 million, or 35 cents per share, on revenue of $1.57 billion. This compared to a loss of $416 million, or 66 cents per share, on revenue of $1.18 billion in the same period the year before. Adjusted net income was $63 million, or 9 cents per share, which is significantly better than Wall Street analysts' expectations of a loss of 3 cents per share on revenue of $1.5 billion.

For the current quarter AMD expects revenue to be down seasonally. Despite better than expected results, AMD shares have plunged 5.51 percent to $9.60 in after-hours trading.
AMD (NYSE:AMD) today announced revenue for the first quarter of 2010 of $1.57 billion, net income of $257 million, or $0.35 per share, and operating income of $182 million. The company reported non-GAAP net income of $63 million, or $0.09 per share, and non-GAAP operating income of $130 million.