Advanced Micro Devices is hurtling toward what could be another disappointing period as the second quarter draws to a close next week. Wall Street expects the company to have lost 84 cents per share for the June quarter on $1.26 billion, up 4 percent from the same quarter a year ago. That compares with a loss of $611 million or $1.11 per share in the first quarter and a net profit of $88 million or 18 cents per share in the second quarter of 2006.
AMD needs a fix, and fast. A $2.2 billion debt offering will help keep the lights on in Sunnyvale, Calif., and Austin, Texas--the chipmaker's primary U.S. locations--as some financial analysts had been worried about AMD's cash-flow situation. The company is pinning its near-term hopes on Barcelona, a quad-core server chip that AMD hopes will allow it to shore up the eroding prices of its server chips, the source of most of its pain this year..