AMD posts Q2 loss, still forecasts profitable second half

Yesterday, Intel posted its second-quarter financial results. Today, it's AMD's turn.

AMD's revenue grew compared to the previous quarter, and the company suffered smaller losses, as well. According to Reuters, the company also beat Wall Street's revenue forecast. Ultimately, though, the chipmaker still lost money in Q2 2013—and the quarter's numbers paled in comparison to those from a year before.

  Q2 2012 Q1 2013 Q2 2013
Revenue $1.41 billion $1.09 billion $1.16 billion
Net income $37 million -$146 million -$74 million
Gross margin 45% 41% 40%

AMD says revenue for its Computing Solutions business was up 12% sequentially and down 20% compared to last year. The Graphics and Visual Solutions business, meanwhile, saw revenue shrink 5% sequentially and 13% year-over-year.

Oh, yes, AMD's Graphics Solutions business has been rechristened "Graphics and Visual Solutions." The change is meant to reflect, in part, the "growing importance of gaming and semi-custom offerings." Nothing about the business' operations or financial reporting seems to have changed, though—just the name.

AMD CEO Rory Read doesn't sound displeased with these numbers. He says, "Our focus on restructuring and transforming AMD resulted in improved financial results." Also, he expects AMD to see "significant revenue growth and a return to profitability in the third quarter." That's hardly a new promise, of course; AMD has been singing that refrain since January. Still, it's good to know the plan hasn't changed. AMD's press release says Q3 revenue is expected to grow 19-25% sequentially.

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