Vladimír Urbánek (Kurzy.cz)
World markets  |  October 19, 2012 11:19:26

AMD lowers outlook and transmits 15% of the state

World number two in the production of PC microprocessors, the U.S. company Advanced Micro Devices (AMD) for 3Q of this year, announced the annual results in significant degradation when recorded a net loss of EUR 157 mill.USD = 21 cents per share, compared with last year's profit of 97 mill.USD = 13 cents per share. Market counted in the average loss at 22 cents.
Revenues declined by 25% to 1.27 mld.USD, which fulfilled expectations.

Management of the company due to the projected negative economic development reduced its prediction for Q4 this year. Revenues decline by 9% plus or minus another 4%, which would indicate achievement levels around 1.1 mld.USD with the estimates of the market so far set at 1.31 mld.USD.
Management also announced that in this connection, the Q4 release about 15% of the employees, which will increase business costs additionally about 80 mill.USD. Reduction in the next year will save the company 190 mill.USD and to overcome the limit of quarterly sales of 1.3 mld.USD.

AMD full 85% of its revenue is generated in the PC market. According to comments the company underestimated the potential impact of the growing popularity of tablets and smart phones on the market or the classic PC speed with which the popularity of these devices in public is growing. The management would like to increase the share of income other than the PC business by the end of next year to 20%.

AMD shares fell yesterday in response to a report of 5.4%. Since the beginning of this year, the title loses 51% of its value.
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