AMD closes third quarter with $97 million profit

AMD announced a third-quarter net income of $97 million on revenue of $1.69 billion. The results are better than the company's revised guidance, but fall short of the initial guidance provided in the Q2 earnings announcement. The company says strong demand for AMD APUs resulted in a 35 percent sequential revenue increase in their mobile business, and notes they saw double digit revenue and unit shipment growth in emerging markets like China and India.

AMD (NYSE:AMD) today announced revenue for the third quarter of 2011 of $1.69 billion, net income of $97 million, or $0.13 per share, and operating income of $138 million. The company reported non-GAAP net income of $110 million, or $0.15 per share, and non-GAAP operating income of $146 million.

“Strong adoption of AMD APUs drove a 35 percent sequential revenue increase in our mobile business,” said Rory Read, AMD president and CEO. “Despite supply constraints, we saw double digit revenue and unit shipment growth in emerging markets like China and India as well as overall notebook share gains in retail at mainstream price points. Through disciplined execution and continued innovation we will look to accelerate our growth and refine our focus on lower power, emerging markets, and the cloud.”

Current Outlook
AMD’s outlook statements are based on current expectations. The following statements are forward-looking, and actual results could differ materially depending on market conditions and the factors set forth under “Cautionary Statement” below.

AMD expects revenue to increase 3 percent, plus or minus 2 percent, sequentially for the fourth quarter of 2011.