Advanced Micro Devices Inc., the second-largest producer of personal computer microprocessors, on Wednesday reported a quarterly profit, compared with a loss a year earlier, on stronger sales of processors and flash memory.
AMD, based in Sunnyvale, California, posted earnings of $45.1 million, or 12 cents a share, in the first quarter ended March 28, compared with a year-earlier loss of $146.4 million, or 42 cents a share. Revenue rose to $1.24 billion from $714.6 million.
Analysts on average were expecting results in the range of a loss of 6 cents a share to a profit of 10 cents, with an average estimate of a 3-cent profit, according to Reuters Research, a unit of Reuters Group Plc.
For its second quarter, AMD said it expected regular "seasonal patterns" with sales about flat. Sales in its memory group are expected to increase modestly in the second quarter, while sales in its computation products group should decline modestly, it said.
On Tuesday, AMD's arch-rival, Intel Corp., posted an 89 percent gain in quarterly profit but issued a revenue forecast that fell short of some analysts' estimates.
AMD shares fell 4 cents to $17.12 on the New York Stock Exchange on Wednesday before the company reported earnings.
