AMD has announced lowered expectations for its third-quarter financial results, with revenues declining 10 per cent from the previous quarter, down from the 1 per cent – give or take 3 per cent – that it had previously projected.
"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," the company said in an emailed statement.
AMD also has lowered its gross margins projections from 44 per cent to 31 per cent, "due to an inventory write-down of approximately $100 million due to lower anticipated future demand for certain products."
The company is scheduled to announce its full financial results for the third quarter next Thursday, October 18. After this Thursday's announcement of lowered expectations, there will be one less surprise in that report. ®