AMD Reports Net Loss of $358 Million

Chip-maker AMD revealed some first quarter financial numbers today, and the results aren't exactly stellar. Total revenue for the company was $1.505 billion, but it had sustained a net loss of $358 million, or $0.59 per share, and an operating loss of $264 million. These results include an impact of $50 million, or $0.08 per share, from ATI acquisition-related charges. However, although first quarter revenue decreased 15% compared to the fourth quarter of 2007, it actually increased 22% compared to the first quarter of 2007.

"A seasonally weak first quarter was amplified by a challenging economic environment for consumers and lower than expected revenues of previous generation products, resulting in lower than expected revenues in all business segments." said Robert J. Rivet, AMD's Chief Financial officer. "We remain committed to achieve operating profitability in the second half of the year, driven by our portfolio of new products and platforms and aggressive restructuring programs."

Thanks for the tip, HenryC!

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