AMD reports third quarter financial results

Hot on Intel's heels, AMD has revealed its third quarter financial results for the world to see. Much like Intel, AMD saw a rise in revenue and profits from the second quarter. AMD's revenue climbed 9% to $1.33 billion, and operating income rose 16.7% to $119 million. Those increases come despite the fact that AMD squeezed its margin down 5.4 percentage points to 51.4%, likely as a result of this summer's round of price cuts.

Unlike Intel, however, AMD's earnings show a significant improvement in revenue over the third quarter of 2005. The chipmaker saw a 31.7% year-over-year rise in revenue, although operating income did go down 8%—likely because AMD's gross margin was four percentage points higher last year.

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