AMD’s Q1 reports look promising, hopes to be profitable in 2014

AMD reported first quarter earnings after the bell on Thursday. The semiconductor maker reported a net loss of $20 million, or three cents per share (statement). Non-GAAP earnings were two cents per share on a revenue of $1.40 billion, down 12 percent sequentially but up 28 percent year-over-year. Wall Street was expecting AMD’s earnings to flatten out at zero cents a pop on a revenue of $1.34 billion. AMD has been making strides to cut down on costs, investing now in a datacenter consolidation with the objectives to be more nimble, effective, and dish out products faster. During a tour of its Atlanta facility last month, AMD CIO Jake Dominguez described to ZDNet‘s Zack Whittaker how the Austin to Atlanta datacenter consolidation — a major effort to reinvent AMD’s internal IT strategy — helped the company save $8.5 million 2013 alone.