AMD posts Q2 financials, is still in the red


— 5:01 PM on July 17, 2014

AMD has posted its financial results for Q2 2014. Revenue increased both sequentially and year-over-year, albeit slightly, to $1.44 billion. But the company remains in the red; it lost $36 million during the quarter, or $0.05 per share. Analysts had projected earnings of $0.03 cents per share, according to Yahoo Finance. Here's an easy-to-digest table with the results:

  Q2 2014 Q1 2014 Q2 2013
Revenue $1.44 billion $1.40 billion $1.16 billion
Operating income $63 million $49 million -$29 million
Net loss/loss per share $36 million/$0.05 $20 million/$0.03 $74 million/$0.10
Gross margin 35% 35% 40%

The brightest spot in the company's financials remains its Graphics and Visual Solutions division, which saw a 5% increase in sequential revenue and a 141% increase from the same quarter in 2013. The company cites "increased semi-custom SoC sales" as the reason for the positive results. Those sales are likely to Microsoft and Sony for the chips behind the Xbox One and PlayStation 4 consoles.

GPU revenue fell both sequentially and compared to last year due to a "decrease in add-in board channel sales." Sales of professional and OEM GPUs apparently rose, though.

AMD's Computing Solutions division, which is responsible for CPUs, didn't benefit from the recent uptick in PC sales credited for Intel's strong quarter. Shipments of CPUs rose 1% sequentially, but they declined 20% year-over-year, a drop blamed on "decreased microprocessor unit shipments."

CEO Rory Read seemed upbeat about the results, stating that AMD's "transformation strategy is on track and we expect to deliver full year non-GAAP profitability and year-over-year revenue growth. We continue to strengthen our business model and shape AMD into a more agile company offering differentiated solutions for a diverse set of markets." Looking ahead to Q3, AMD expects revenue to grow 2% sequentially, with a 3% margin of error.

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