tech:

taffy

AMD Reports Third Quarter 2013 Results

AMD

AMD reported its third quarter results for 2013 on Thursday. The company chalked up revenues of $1.46 billion, operating income of $95 million and net income of $48 million, or 6 cents per share.

Rory Read (President and CEO, AMD): We achieved 26 percent sequential revenue growth driven by our semi-custom business and remain committed to generating approximately 50 percent of revenue from high-growth markets over the next two years.   

AMD – Quarterly Financial Summary

Gross margin was 36 percent in Q3 2013, and included a $19 million benefit, approximately 1 percentage point, from the sale of inventory that had been previously reserved in Q3 2012 (as compared to a similar $11 million benefit, approximately 1 percentage point, in Q2 2013).

Cash, cash equivalents and marketable securities balance, including long-term marketable securities, was $1.2 billion at the end of the quarter, slightly above our targeted optimal level of $1.1 billion.

Computing Solutions segment revenue decreased 6 percent sequentially and decreased 15 percent year-over-year. The sequential and year-over-year declines were due to decreased notebook and chipset unit shipments, partially offset by an increase in desktop unit shipments, says AMD.

Operating income was $22 million, compared with operating income of $2 million in Q2 2013 and an operating loss of $114 million in Q3 2012. The Q3 2012 operating loss included an inventory write-down of approximately $100 million primarily consisting of first generation A-Series accelerated processing units (APUs).

Microprocessor Average Selling Price (ASP) was flat sequentially and decreased year-over-year.

Graphics and Visual Solutions (GVS) segment revenue increased 110 percent sequentially and increased 96 percent year-over-year. GPU revenue declined sequentially and year-over-year. 

Operating income was $79 million compared with breakeven in Q2 2013 and $18 million in Q3 2012.

Outlook

For the fourth quarter of 2013, AMD says it expects revenue to increase 5 percent, plus or minus 3 percent, sequentially.

[Image courtesy: AMD]

You may also be interested in:

Also see:

TransUnion to acquire Neustar for $3.1B

TransUnion has signed a definitive agreement to acquire Neustar from a private investment group led by Golden Gate Capital and with minority participation by GIC.

Huvr raises $5M

Huvr, a cloud-based industrial asset management solution company, has raised $5 million.

American Express acquires fintech company Kabbage

American Express has entered into an agreement to acquire Kabbage, a financial technology company that provides cash flow management solutions to small businesses.

AP to equip visual journalists globally with Sony imaging products

Sony and The Associated Press (AP) have inked a collaboration that will make Sony the exclusive imaging products and support provider for AP news photographers and video journalists globally.

Equifax acquires Ansonia

Equifax has acquired Ansonia, a provider of business credit, collections, and account receivable data used by financial institutions, creditors, and businesses focused on the transportation and logistics industries.