Sales slip and profits dip at Sunnyvale.
Yesterday, AMD reported their earnings for the second quarter of 2014, with a lot of investors watching to see if AMD can complete their turnaround. They reported a net loss of $36 million even though they had an operating income of $63 million on $1.44 billion in revenue. Their non-GAAP operating income was $67 million and a non-GAAP profit of $17 million with the exclusion of the $49 million loss from debt redemption in the quarter, pushing the company’s GAAP earnings figures into the negative once again. Based upon these figures, this translates to a loss per share of $0.05, slightly more than what some
So, AMD announced that they would be reshuffling the company’s corporate structure which includes some business unite consolidation and executive shuffling. First and foremost, they would be appointing Dr. Lisa Su as the COO from her current position as Senior Vice President and GM of Global Business Units. Anyone that knows how AMD works and what Dr. Lisa Su has been doing already knows that she’s effectively been the COO for quite some time and that the company had actually vacated that position a long time ago. Keep in mind that AMD’s current CEO, Rory Read, was once COO of Lenovo before he came from
After Intel reported their earnings for the first quarter of 2014, many people expected AMD’s earnings to mirror that of Intel’s or to do worse. Well, by the looks of it, AMD’s earnings have mirrored that of Intel’s in terms of remaining fairly stable and ensuring that their core business is strong. AMD reported a net loss of $20 million (or a non-GAAP profit of $12 million) on $1.4 billion in revenue which translates to a loss per share of about $0.02 or a non-GAAP profit per share of about $0.02. Wall Street’s estimates for AMD’s non-GAAP earnings were at an EPS of $0.00 and