AMD Cuts Guidance; Q3 Prelim Gross Margin 31%, Had Seen 44%; Q3 Prelim Revenue Dow About 10% vs Q2, Had Seen Down 1%

AMD

today announced that revenue for the third quarter ended September 29, 2012 is expected to decrease approximately 10 percent sequentially. The company previously forecasted third quarter 2012 revenue to decrease 1 percent, plus or minus 3 percent, sequentially. The lower than anticipated preliminary revenue results are primarily due to weaker than expected demand across all product lines caused by the challenging macroeconomic environment.