AMD fools Wall Street, posts smaller loss than expected

Xbox One, Nintendo Wii U, and Sony PS4 will goose bottom line


A day after its competitor Intel posted financial results for its most recent quarter that came in slightly below analyst's estimates, AMD bucked that disappointing trend – but it's not quite out of the woods yet.

AMD reported its second quarter results on Thursday after markets closed, and reported a loss of $0.09 per share (non-GAAP) on sales revenues of $1.16bn.

GAAP results were reported at a loss of $0.10 per share but, as an AMD spokesman noted in an email reporting the results, when compared to analyst's predictions, "[Those] estimates best align with our non-GAAP results (loss of $0.09), which primarily excludes the positive impact ($.01) from restructuring charges and amortization of acquired intangible assets."

The Wall Street moneymen missed this one. The consensus of the 26 analysts polled by Yahoo! Finance had projected that AMD would lose $0.13 per share on revenues of $1.11bn. NASDAQ's analysts were a tad less pessimistic, with a projection of that all-important earnings per share (EPS) figure pegged at a loss of $0.12, matched by CNNMoney.

AMD's stock price seesawed immediately after its Q2 2013 results were announced, first spiking to just under $4.80 per share, then dipping to $4.40, then rising again to just under $4.50. As we click Publish on this report, it's started to sink a wee bit again.

Despite the negative EPS numbers, AMD president and CEO Rory Read expressed satisfaction with his company's quarterly performance. "Our focus on restructuring and transforming AMD resulted in improved financial results," he said in a statement. "Our performance in the second quarter was driven by opportunities in our new high-growth and traditional PC businesses."

In addition to reporting its financial results, AMD also announced on Thursday that it was renaming the Graphics segment of its reportable revenues and expenses. Henceforth it will be known as the Graphics and Visual Solutions segment to reflect the larger role of such aspects of the company's business as its semi-custom chips for game consoles.

Touching on the quarter's highlights, AMD touted Microsoft's announcement that the Xbox One will feature a semi-custom AMD SoC. "AMD technology is inside all three of the next generation gaming consoles: Nintendo Wii U, Sony PS4, and Xbox One," the company's statement boasted.

That's certain to be a boost to AMD's bottom line – and an accomplishment that Intel can't match. ®


Other stories you might like

  • DigitalOcean sets sail for serverless seas with Functions feature
    Might be something for those who find AWS, Azure, GCP overly complex

    DigitalOcean dipped its toes in the serverless seas Tuesday with the launch of a Functions service it's positioning as a developer-friendly alternative to Amazon Web Services Lambda, Microsoft Azure Functions, and Google Cloud Functions.

    The platform enables developers to deploy blocks or snippets of code without concern for the underlying infrastructure, hence the name serverless. However, according to DigitalOcean Chief Product Officer Gabe Monroy, most serverless platforms are challenging to use and require developers to rewrite their apps for the new architecture. The ultimate goal being to structure, or restructure, an application into bits of code that only run when events occur, without having to provision servers and stand up and leave running a full stack.

    "Competing solutions are not doing a great job at meeting developers where they are with workloads that are already running today," Monroy told The Register.

    Continue reading
  • Patch now: Zoom chat messages can infect PCs, Macs, phones with malware
    Google Project Zero blows lid off bug involving that old chestnut: XML parsing

    Zoom has fixed a security flaw in its video-conferencing software that a miscreant could exploit with chat messages to potentially execute malicious code on a victim's device.

    The bug, tracked as CVE-2022-22787, received a CVSS severity score of 5.9 out of 10, making it a medium-severity vulnerability. It affects Zoom Client for Meetings running on Android, iOS, Linux, macOS and Windows systems before version 5.10.0, and users should download the latest version of the software to protect against this arbitrary remote-code-execution vulnerability.

    The upshot is that someone who can send you chat messages could cause your vulnerable Zoom client app to install malicious code, such as malware and spyware, from an arbitrary server. Exploiting this is a bit involved, so crooks may not jump on it, but you should still update your app.

    Continue reading
  • Google says it would release its photorealistic DALL-E 2 rival – but this AI is too prejudiced for you to use
    It has this weird habit of drawing stereotyped White people, team admit

    DALL·E 2 may have to cede its throne as the most impressive image-generating AI to Google, which has revealed its own text-to-image model called Imagen.

    Like OpenAI's DALL·E 2, Google's system outputs images of stuff based on written prompts from users. Ask it for a vulture flying off with a laptop in its claws and you'll perhaps get just that, all generated on the fly.

    A quick glance at Imagen's website shows off some of the pictures it's created (and Google has carefully curated), such as a blue jay perched on a pile of macarons, a robot couple enjoying wine in front of the Eiffel Tower, or Imagen's own name sprouting from a book. According to the team, "human raters exceedingly prefer Imagen over all other models in both image-text alignment and image fidelity," but they would say that, wouldn't they.

    Continue reading

Biting the hand that feeds IT © 1998–2022