AMD had back from its second quarter slump, and the company has held its word, reporting a net income $48 million in its Q3 financial reports.
AMD cites growth in its Graphics and Visual Solutions (GVS) division, which is responsible for semi-custom products like the chips bound for the upcoming PlayStation 4, Xbox One and the current Wii U.
- “We achieved 26 percent sequential revenue growth driven by our semi-custom business and remain committed to generating approximately 50 percent of revenue from high-growth markets over the next two years,” AMD President and CEO Rory Read stated in the earnings announcement.
The Sunnyvale firm (AMD) on Thursday reported a third-quarter profit of $48 million, or 6 cents a share, on revenue of $1.46 billion. During the same period a year ago, the semiconductor maker lost 21 cents a share on $1.27 billion in sales. Excluding one-time items, AMD would have earned 4 cents a share.
Analysts surveyed by FactSet had forecast AMD to earn 2 cents a share on $1.42 billion in revenue. AMD shares fell almost 8% in after hours trading. The company said it expects fourth-quarter sales in a range that could fall below analysts’ forecasts of $1.52 billion.
Other story: Origin PC drops AMD graphics options due to feedback. Origin PC’s move is a blow to AMD’s image; it suggests that the chip designer needs more than just advanced silicon to please gamers.
- This decision was based on a combination of many factors including customer experiences, GPU performance/drivers/stability, and requests from our support staff. Based on our 15+ years of experience building and selling award winning high-performance PCs, we strongly feel the best PC gaming experience is on NVIDIA GPUs.
However, not every portion of AMD’s business is flourishing, however – both its Computing Solutions and GPU segments saw a drop in revenue over the past year, and the company admits that it’s shipping fewer notebook chipsets these days. Even so, the numbers bode well for the company, which posted a total revenue of $1.46 billion for the quarter, alongside an optimistic outlook. After all, the company’s Mantle graphics cards are just around the corner.