AMD Q1 Results Top Estimates

(RTTNews) - Advanced Micro Devices, Inc. (AMD) reported a net loss for the first quarter of $20 million or $0.03 per share, compared to a net loss of $146 million or $0.19 per share for the year-ago quarter.

Excluding items, adjusted net income for the first quarter was $12 million or $0.02 per share, compared to an adjusted net loss of $94 million or $0.13 per share in the prior year quarter.

Revenue for the first quarter rose 28% to $1.40 billion from $1.09 billion in the same quarter last year.

Analysts polled by Thomson Reuters expected the company to report breakeven per share on revenue of $1.34 per share for the first quarter. Analysts' estimates typically exclude special items.

Looking forward, the company expects second quarter revenue to increase 3%, plus or minus 3%, sequentially.