Chip maker Advanced Micro Devices (AMD) on Wednesday reported better than expected financial results for its first fiscal quarter, thanks in part to an uptake in PC processor sales.
AMD, based in Sunnyvale, California, reported US$902 million in revenue for the quarter ending March 31, down 24 percent from last year's first-quarter total of $1.19 billion, the company said in a statement.
The chip maker reported a net loss of $9.16 million for the quarter, compared to a gain of $124.84 million in 2001.
Still, the company enjoyed a slight boost in PC processor sales, accounting for $684 million in revenue versus $661 million in 2001. AMD is Intel Corp.'s chief rival in the PC processor market. Intel Tuesday also reported strong sales of PC processors in its first quarter.
The revenue total translated into a loss of $0.03 per share for the quarter. Analysts polled by Thomson Financial/First Call on average pegged AMD to post a loss of $0.06 per share for the period.
The company saw a large drop-off in sales of flash memory products, with sales coming in at $160 million compared to $411 million in the same period of 2001.