Reuters: Technology News: Chipmaker AMD's revenue tops estimates, forecast misses

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Chipmaker AMD's revenue tops estimates, forecast misses Jan 22nd 2013, 21:51 Tweet Share this Email Print Related News Verizon posts weak fourth-quarter, promises a better 2013 3:21pm EST CORRECTED-UPDATE 4-Verizon eyes mobile margin jump as Q4 disappoints 2:02pm EST AMD hires chip veterans, diversifies beyond PCs 1:16pm EST Dow, S&P 500 end at five-year highs on early earnings beats Fri, Jan 18 2013 Citi's Corbat tempers investor expectations in debut Thu, Jan 17 2013 Analysis & Opinion Citi, BofA give investors only reasons to fret Related Topics Investing and Taxes Simplified » Tech » Media » A new AMD Opteron 6000 series processor is seen on a motherboard during a product launch in Taipei April 14, 2010. Credit: Reuters/Pichi Chuang By Noel Randewich Tue Jan 22, 2013 4:51pm EST (Reuters) - Chipmaker Advanced Micro Devices' quarterly revenue topped estimates but its forecast for the current quarter fell short as it struggles with falling PC sales and consumers' growing preferences for smartphones and tablets. Like larger rival Intel, AMD is trying to refocus its business as sales of laptops languish and consumers increasingly depend on more mobile gadgets. Microsoft Corp's long-awaited launch of Windows 8 in October brought touch screen features to laptops but failed to spark a resurgence in sales that AMD, Intel and many PC manufacturers had hoped for. AMD posted fourth-quarter revenue of $1.16 billion, compared to $1.69 billion in the year-ago quarter. In its report on Tuesday, AMD estimated revenue in the current first quarter would fall 9 percent from the fourth quarter, plus or minus 3 percent. The mid-point of AMD's revenue forecast is about $1.056 billion. Analysts had expected $1.149 billion in revenue for the December quarter and $1.108 billion in revenue for the current quarter, according to Thomson Reuters I/B/E/S. AMD had a net loss of $473 million, or 63 cents a share, compared to a net loss of $177 million, or 24 cents a share, in the same quarter the year before. Shares of AMD rose 2.45 percent in extended trade after closing down 0.41 percent at $2.45. (Reporting by Noel Randewich; Editing by Phil Berlowitz) Investing and Taxes Simplified Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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