AMD posts large Q2 loss, sees more losses in Q3

Hampered by continuing weak PC sales and the dominance of its primary rival Intel Corp., chip maker Advanced Micro Devices Inc. (AMD) posted large losses for the second quarter. The losses are the biggest for AMD since the second quarter of 1999.

The Sunnyvale, California, company reported a net loss of US$184.9 million for the quarter ended June 30, compared to net income of $17.4 million for the same quarter last year, AMD said in a statement Wednesday.

On a per-share basis, AMD reported a loss of $0.54 per share, compared to $0.05 per share in the second quarter of last year. The loss was greater than had been estimated by analysts polled at Thomson Financial/First Call, which forecast a loss of $0.45 per share.

Net revenue for the quarter fell to $600.3 million from $985.3 million in the second quarter of last year, AMD said.

"We probably lost a couple of points in (market) share," said Hector Ruiz, AMD's chief executive officer, in a conference call that was recorded and posted on the company Web site.

AMD forecasts further losses in the third quarter with aggregate sales expected to improve modestly in the quarter, AMD said.

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