UPDATE: AMD Posts Narrower-Than-Expected Q4 Loss
Advanced Micro Devices (NYSE: AMD) posted a narrower-than-expected fourth-quarter loss.
AMD posted a quarterly loss of $473 million, or $0.63 per share, versus a year-ago loss of $177 million, or $0.24 per share. Excluding one-time items, AMD lost $0.14 per share. However, analysts expected a loss of $0.20 per share.
Its revenue dropped 32% to $1.16 billion. The company in October expected revenue of $1.1 billion to $1.21 billion.
Its gross margin declined to 15.4% from 45.7%.
AMD shares gained 1.63% to $2.49 in after-hours trading.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.