AMD Q1 sales up 34 percent year on year
Advanced Micro Devices has reported first quarter sales of $1.57billion, a rise of 34% compared to the same period a year earlier. Net income was $257bn, in contrast to a loss of $416million a year earlier.
The microprocessor manufacturer's success is regarded by many analysts as strong evidence that personal computer demand was increasing.
The company, which does not provide specific forecasts, previously said it expected revenue to be down seasonally in the current period. However, profit, excluding certain items, was $63million in the quarter ending March 27. Gross margin, the percentage of sales remaining after production costs are deducted, widened to 43%, from 35% a year earlier.
AMD's 2006 acquisition of ATI Technologies increased debt, and in response, to lessen its spending requirements the company spun off its plants into a joint venture with the government of Abu Dhabi.