AMD (AMD) Edges Out Q2 Win on Record Shipments

July 21, 2011 4:43 PM EDT
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Advanced Micro Devices (NYSE: AMD) shares are trading higher Thursday afternoon following record microprocessor shipments during the company's second quarter.

The Sunnyvale, CA chipmaker reported quarterly revenue fell 4.9 percent to $1.57 billion, just shy of consensus views calling for $1.58 billion.

Advanced Micro swung to net income of $61 million in the quarter, amounting to EPS of 8 cents. Adjusting for certain items, AMD saw earnings of 9 cents, better then the 8 cents expected by the Street.

AMD said, "Accelerating Fusion Accelerated Processor Unit (APU) shipments drive record microprocessor unit shipments and record mobile microprocessor unit shipments."

Computing Solutions segment revenue was flat sequentially and year-over-year and Graphics segment revenue decreased 11 percent sequentially and 17 percent year-over-year.

Looking ahead, AMD sees revs increasing 10 percent, +/- 2 percent for the third quarter.

AMD shares are about 3 percent higher after the close. The stock last traded at $6.69.

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