Hot on Intel’s heels, AMD has posted its results for the third calendar quarter. AMD did lower its guidance before the quarter was through, and just like Intel, its final results were in line with revised estimates. All things considered, though, the quarter could’ve gone worse:
|Q3 2009||Q2 2010||Q3 2010|
|Revenue||$1.40 billion||$1.65 billion||$1.62 billion|
|Operating income||-$77 million||$125 million||$128 million|
|Net income||-$128 million||-$43 million||-$118 million|
You’re looking at a slight sequential decrease in revenue coupled with an increase in both AMD’s operating income and gross margin—although AMD still posted a net loss. CEO Dirk Meyer commented in the results announcement, "AMD’s third quarter performance was highlighted by solid gross margin and a continued focus on profitability, despite weaker than expected consumer demand."
AMD says its Computing Solutions business unit saw flat sequential growth, while its graphics business actually took an 11% dive in revenue compared to the second quarter. Both units saw year-over-year growth, though. Interestingly, the company goes on to note that, while it saw "record" shipments of notebook CPUs in Q3 ’10, shipments of notebook GPUs actually went down. I expect the arrival of Nvidia’s GeForce 400M graphics processors might have had something to do with that.