AMD, Inc. Earnings Cheat Sheet: Revenue Falls After Four Straight Increases

S&P 500 (NYSE:SPY) component Advanced Micro Devices, Inc. (NYSE:AMD) reported its results for the second quarter. Advanced Micro Devices is a semiconductor company with manufacturing, research and development, and sales and administrative facilities throughout the world. It provides processing solutions for the computing and graphics markets.

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Advanced Micro Devices Earnings Cheat Sheet for the Second Quarter

Results: Swung to a profit of $61 million (8 cents per diluted share) in the quarter. The semiconductor company had a net loss of $43 million or a loss of 6 cents per share in the year earlier quarter.

Revenue: Fell 4.8% to $1.57 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: AMD reported adjusted net income of 9 cents per share. By that measure, the company beat the mean estimate of 8 cents per share. Analysts were expecting revenue of $1.58 billion.

Quoting Management: “In the first half of 2011, AMD brought to market the most competitive client offerings in our history, reinforcing our position as a design and innovation powerhouse,” said Thomas Seifert, CFO and Interim CEO. “Today’s computing experience is increasingly being defined by the ability to deliver brilliant multimedia and video content with all day battery life. Fusion APUs are ideal to meet this need, positioning AMD to gain unit market share in the mobile computing space.”

Key Stats:

A year-over-year revenue decrease last quarter snaps a streak of four consecutive quarters of revenue increases. The best quarter in that span was the second quarter of the last fiscal year, which saw revenue rise 39.6%.

The company has now topped analyst estimates for the last four quarters. It beat the mark by 3 cents in the first quarter, by 3 cents in the fourth quarter of the last fiscal year, and by 9 cents in the third quarter of the last fiscal year.

Margins rose in the first quarter after falling the quarter before. Gross margin rose 1.1 percentage points to 45.7% from the quarter earlier quarter. In the fourth quarter of the last fiscal year, the figure rose 4.2 percentage points to 42.8% from the year earlier quarter.

Competitors to Watch: Intel Corporation (NASDAQ:INTC), NVIDIA Corporation (NASDAQ:NVDA), MIPS Technologies, Inc. (NASDAQ:MIPS), Texas Instruments Inc. (NYSE:TXN), ARM Holdings plc (NASDAQ:ARMH), Microsoft Corporation (NASDAQ:MSFT), Intl. Business Machines Corp. (NYSE:IBM), Hewlett-Packard Company (NYSE:HPQ), Broadcom Corporation (NASDAQ:BRCM), and Apple Inc. (NASDAQ:AAPL).

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(Source: Xignite Financials)