AMD Posts First Quarter Loss, But Beats Analysts Expectations

AMD today announced revenue for the first quarter of 2012 of $1.59 billion, net loss of $590 million, or $0.80 per share, and operating loss of $580 million. The company reported non-GAAP net income of $92 million, or $0.12 per share, and non-GAAP operating income of $138 million. Analysts were expecting the chip maker to report a profit of 9 cents a share, on revenue of $1.56 billion, according to a consensus survey by FactSet Research. For the current quarter, the company expects revenue to rise sequentially 3% plus or minus 3%, which translates to a range of about $1.59 billion to $1.69 billion. Analysts were expecting revenue of $1.59 billion, according to a survey by FactSet Research.