Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Advanced Micro Devices - Moderated (AMD) -- Ignore unavailable to you. Want to Upgrade?

To: Dan3 who wrote (59006)	10/18/2001 12:02:25 AM
From: Paul Engel	Respond to of 275872

Re: "Intel has been losing almost $2.5 Billion per quarter all year, as you well know. " This just in: AMD reports third-quarter net loss PC chip maker meets analysts' consensus estimate By Deborah Adamson, CBS.MarketWatch.com Last Update: 5:41 PM ET Oct. 17, 2001 SUNNYVALE, Calif. (CBS.MW) -- Advanced Micro Devices on Wednesday reported a net loss for the third quarter, reversing last year's profits, as the maker of PC microprocessors struggled against price declines and a slowing economy. AMD (AMD: news, chart, profile) had a net loss of $186.9 million, or 54 cents a share. In the same quarter last year, it had a net profit of $408.6 million, or $1.18 a share. Excluding restructuring charges and other one-time items, the company recorded a pro forma loss of $97.4 million, or 28 cents a share, and in line with the estimate of analysts polled by Thomson Financial/First Call. Last year, AMD had a pro forma profit of $219.3 million, or 64 cents a share. Revenue came in at $765.9 million, a tad lighter than expected, compared with $1.21 billion a year ago. Shares of AMD were up 4 cents to $9.75 in after-hours trading following the announcement, gaining back some ground after shedding more than 8 percent in regular trading. Looking ahead, AMD said it expects fourth-quarter revenue to come in about the same or up 10 percent sequentially. Earlier this month, the company said the average selling price for its PC chips declined more sharply than expected, which led to lower revenues. The company blamed Intel's aggressive competition and its large cash-backed marketing initiatives for the fall. Intel has been aggressively marketing its Pentium 4 chips to keep market share. AMD also previously said that it plans to close two factories and cut 2,300 jobs, or 15 percent of its workforce. Deborah Adamson is a reporter for CBS.MarketWatch.com in Los Angeles.