AMD brought to a profit by PS4 and Xbox One sales

by Connor Livingston January 22, 2014, 6:20 AM 1.6k Views

Tuesday posted a profit for the fourth quarter, as the chip maker reported improved revenue reflecting the launch of new gaming consoles despite continued drop in personal computer sales. Nonetheless, shares of AMD plummeted nine percent in after hours after detailing a weak outlook for the next quarter.

Advanced Micro Devices has reported a profit for the fourth quarter, thanks largely to the sale of its chips in the latest game consoles from Microsoft and Sony. AMD’s forecast for the current quarter seemed to disappoint, however, and investors pushed its shares 10 percent lower after the results came out. The chip maker’s profit for the quarter ended Dec. 28 was US$89 million, compared to a loss of $473 million a year earlier, AMD announced Tuesday. It was its second profitable quarter in a row after a string of losses.

Source

What do you think?

0 Points

Upvote Downvote

Written by Connor Livingston

Connor Livingston is a tech blogger who will be launching his own site soon, Lythyum. He lives in Oceanside, California, and has never surfed in his life. Find him on Twitter, Facebook, and Pinterest.