Advanced Micro Devices (NYSE: AMD) shares are moving higher after-hours Thursday following fourth-quarter numbers from the chip giant.

Revenue at AMD fell 1.7 percent from $1.61 billion in the same period last year to $1.59 billion. AMD swung from profit of $510 million last year to a GAAP loss of $590 million in the period, or 80 cents per share. Adjusting for certain one-time items like impairments and legal settlements, AMD reported EPS of 12 cents per share.

Overall, the Street was expecting revs of $1.56 billion and EPS of 9 cents.

Non-GAAP gross margin was flat at 46 percent.

Average selling price (ASP) of microprocessors remained flat. GPU ASP increased from 2011's fourth quarter.

Computing segment revs were flat, while graphics revs dipped 7 percent from last year.

Looking ahead, AMD sees second-quarter revs up about 3 percent, plus-or-minus 3 percent.

Shares are up 1.8 percent in post-market action.

Earnings