On Thursday, shares of Advanced Micro Devices, Inc. (NASDAQ:AMD) slipped after posting wider quarterly loss from the previous year. The stock has regain strength after dipping 8 percent after the announcement. According to MarketWatch, AMD’s third quarter loss has deepened to $406 million, or $0.50 a share from a loss of $197 million, or $0.25 a share just from last year. Revenue grew to $1.31 billion compared to $1.06 billion year-to-year, and the company would have earned $0.03 a share.
“Our third quarter financial results highlight the progress we are making across our business,” said Lisa Su, AMD president and CEO. “We now expect to deliver higher 2016 annual revenue based on stronger demand for AMD semi-custom solutions and Polaris GPUs. This positions us well to accelerate our growth in 2017 as we introduce new high-performance computing and graphics products.”
AMD’s outlook statements are based on current expectations. The following statements are forward-looking, and actual results could differ materially depending on market conditions and the factors set forth under “Cautionary Statement” below.
For Q4 2016, AMD expects revenue to decrease 18 percent sequentially, plus or minus 3 percent. The midpoint of guidance would result in Q4 2016 revenue increasing approximately 12 percent year-over-year and 2016 revenue increasing 6 percent from 2015.
For more than 45 years, AMD has driven innovation in high-performance computing, graphics, and visualization technologies — the building blocks for gaming, immersive platforms, and the datacenter. Hundreds of millions of consumers, leading Fortune 500 businesses, and cutting-edge scientific research facilities around the world rely on AMD technology daily to improve how they live, work, and play.