AMD rakes it in
AMD pummeled analysts' expectations yesterday by reporting earnings for the first quarter of 2000 way above expectations. From the press release:
SUNNYVALE, CA -April 12, 2000 - AMD today reported record sales of $1,092,029,000 and record net income of $189,349,000 for the quarter ended April 2, 2000. Net income amounted to $1.15 per diluted share. The company reported strong growth in each of its product groups - the Computation Products Group, the Memory Group, and the Communications Group. Total revenues grew by 13 percent over the immediate-prior quarter ended December 26, 1999, and by 73 percent over the like period of 1999. In the immediate-prior quarter, AMD reported sales of $968,710,000 and net income of $65,080,000, or $0.43 per diluted share.
(Read the rest here
.) Earlier in the day, I was reading this article
, which said that AMD was "expected to report earnings of 52 cents per share." I about fell outta my chair when the press release hit my inbox. $1.15 per share!
This from a company that hadn't managed to string together two profitable quarters in a row until now. Their stock price is beginning to reflect the success, as well. It's nice to see quality tech like the Athlon carry a tech company into actual profits once in a while, eh?