Yet another painfully bad quarter for the guys at AMD

We were warned, but AMD’s second-quarter results were still a shocking bloodbath, with revenue that missed analysts’ estimates and came in even lower than the chipmaker’s own revised guidance. Last week, we were cautioned to expect AMD’s revenue for the period ending on June 27 to be down 8 per cent sequentially, contrary to earlier guidance that it would be flat. The actually figure was $942m, an 8.5 per cent sequential decline and a vertiginous 34.6 per cent drop from the same period a year ago. Not surprisingly, the company’s net loss widened once again. A year ago, its quarterly loss was $36m. In this year’s Q1 it lost $180m. This quarter, Q2, it managed to lose $181m, which was 403 per cent worse than last year’s quarter. If there was a bright spot for AMD, however, it only lost $0.17 per diluted share, which was in line with Wall Street’s estimates. These days, that counts as a victory.