AMD Post $74 Million Second Quarter Loss, CEO Expects Return to Profitability in Q3

[[Coi] Mr.CLuBBeR]

AMD's $1.16 billion quarterly revenue wasn't enough to turn a profit

It's a tough time to be a chip maker without a significant foothold in the mobile handheld market. Witness Advanced Micro Devices (AMD), which recently announced $1.16 billion in revenue for the its second quarter of fiscal 2013, an operating loss of $29 million, and a net loss of $74 million, or $0.10 cents per share. Even though the numbers aren't where AMD would like them to be, the Sunnyvale chip designer is optimistic it will return to profitability next quarter.
"Our focus on restructuring and transforming AMD resulted in improved financial results," said Rory Read, AMD president and CEO. "Our performance in the second quarter was driven by opportunities in our new high-growth and traditional PC businesses. Looking ahead, we will continue to deliver a strong value proposition to our established customers and also reach new customers as we diversify our business. We expect significant revenue growth and a return to profitability in the third quarter."
AMD last quarter posted a $146 million loss, or $0.19 per share. That adds up to a $220 million loss so far this year as AMD struggles to evolve with a changing landscape, one in which tablets and smartphones are replacing traditional PCs for casual activities like Facebook and email.
It's not all about mobile, however. AMD scored some major wins by inking deals to power Microsoft's upcoming Xbox One and Sony's PlayStation 4 consoles, both of which will feature semi-custom System-on-Chip (SoC) APUs. This in addition to already powering Nintendo's Wii U console. As pre-orders pile up, followed by the launch of the two new consoles, AMD could find itself in pretty good shape by the end of the year.
Image Source: Flickr (ThaRemix)
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