Advanced Micro Devices' ( AMD) loss widened for the first quarter, but not as severely as Wall Street expected. Shares were down 21 cents to $3.15 after hours Tuesday.
The Sunnyvale, Calif.-based chipmaker lost $416 million, or 66 cents per share after one-time charges, 62 cents per share before charges. Analysts polled by Thomson Reuters expected a loss of 66 cents per share before charges. In the first quarter of 2008, AMD lost $364 million, or 60 cents per share. Revenue fell 21%, to $1.18 billion, but that number beat revenue estimates of $978 million. AMD also cut its second-quarter sales forecast. "Considering current macroeconomic conditions, limited visibility and historical seasonal patterns, AMD expects its Product Company revenue to be down for the second quarter of 2009," the company said in a statement.