AMD (AMD) Cuts Q2 Outlook; Sees Revs Down 11% Sequentially
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Financial Fact:
Provision (benefit) for income taxes: 2M
Today's EPS Names:
ANF, DXLG, FL, More
Financial Fact:
Provision (benefit) for income taxes: 2M
Today's EPS Names:
ANF, DXLG, FL, More
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AMD (NYSE: AMD) announced that revenue for the second quarter ended June 30, 2012 is expected to decrease approximately 11 percent sequentially.
The company previously forecasted second quarter 2012 revenue to increase 3 percent, plus or minus 3 percent sequentially. The lower preliminary revenue results are primarily due to business conditions that materialized late in the second quarter, specifically softer-than-expected channel sales in China and Europe as well as a weaker consumer buying environment impacting the company's Original Equipment Manufacturer (OEM) business.
The company expects second quarter gross margin to be approximately in line with prior guidance. Operating expenses for the second quarter are expected to improve and to be approximately 8 percent less than prior guidance of approximately $605 million, a result of tightly controlled expenses in the quarter.
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The company previously forecasted second quarter 2012 revenue to increase 3 percent, plus or minus 3 percent sequentially. The lower preliminary revenue results are primarily due to business conditions that materialized late in the second quarter, specifically softer-than-expected channel sales in China and Europe as well as a weaker consumer buying environment impacting the company's Original Equipment Manufacturer (OEM) business.
The company expects second quarter gross margin to be approximately in line with prior guidance. Operating expenses for the second quarter are expected to improve and to be approximately 8 percent less than prior guidance of approximately $605 million, a result of tightly controlled expenses in the quarter.
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