AMD reported a smaller quarterly loss, as the fabless chip maker saw its revenue rise by 40 percent to $1.65 billion. The company lost $43 million in the second quarter, compared with a loss of $330 million the year before. For the current quarter, AMD expects revenue to be up seasonally by about 5 to 10 percent. AMD's shares are up 2.56 percent in after-hours trading as the results beat Wall Street's consensus.
The company reported a loss of $43 million, or 6 cents a share, compared with a loss of $330 million, or 49 cents a share, for the year-earlier period. Revenue was $1.65 billion, up from $1.18 billion.
The company reported an adjusted income was 11 cents a share. Analysts had expected the Sunnyvale, Calif.-based chip company to report a profit of 6 cents a share, on revenue of $1.55 billion.