Thursday, April 21, 2011

AMD (NYSE: AMD): Q1 2011 Earnings Roundup

Advanced Micro Devices, Inc. (NYSE: AMD) said late Thursday that its first quarter profit climbed to 510 million, or 68 cents a share, compared with a profit of $257 million, or 35 cents a share, in the year-earlier period. On an adjusted basis, the company earned 8 cents a share. Revenue rose to $1.61 billion from $1.57 billion. Analysts, on average, expected the company to report earnings of 5 cents a share on revenue of $1.61 billion.

"First quarter operating results were highlighted by strong demand for our first generation of AMD Fusion Accelerated Processing Units (APUs)," said Thomas Seifert, CFO and interim CEO. "APU unit shipments greatly exceeded our expectations, and we are excited to build on that momentum now that we are shipping our 'Llano' APU."

Looking ahead, AMD expects revenue to be flat to slightly down sequentially for the second quarter of 2011.

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