This is a live call and will be replayed via webcast on amd.com. There will also be a telephone replay. The number is (888) 266-2081. Outside of the United States, the number is (703) 925-2533. The access code for both is 1554016. The telephone replay will be available for the next 10 days starting later this evening.I'd like to take this opportunity to highlight a few dates for you. Thomas Seifert will present at the Barclays Global Technology Conference on the 7th of December in San Francisco. Rory Read will present at the Raymond James Annual IT Supply Chain Investor Conference on the 13th of December in New York. Additionally, our 2011 Financial Analyst Day has been deferred to February 2, 2012. And lastly, our fourth quarter quiet time will begin at the close of business on Friday, December 16, and we'll announce our fourth quarter earnings on Thursday, January 20, 2012. AMD's ownership of GLOBALFOUNDRIES on a fully diluted basis decreased to approximately 9.6% as of the conclusion of the third quarter. The 2-year time period after which we no longer have the right to designate a representative to the GLOBALFOUNDRIES' Board of Directors was triggered in September of this year when our ownership interest in GLOBALFOUNDRIES decreased below 10% on a fully diluted basis. Reconciliation for all non-GAAP financial measures discussed today is included in the financial tables that accompany our earnings release available in the Investor Relations section of amd.com. Before we begin today's call, I'd like to caution everyone that we will be making forward-looking statements about management's expectations. Investors are cautioned that those statements are based on current beliefs, assumptions and expectations and speak only as of the current date and involve risks and uncertainties that could cause actual results to differ materially from our current expectation. The semiconductor industry is generally volatile and market conditions are particularly difficult to forecast. We encourage you to review our filings with the SEC, where we discuss the risk factors that could cause actual results to differ materially from our expectations. You'll find detailed discussions of such risk factors in our most recent SEC filings, AMD's quarterly report on Form 10-Q for the quarter ended July 2, 2011.
Now with that, I'd like to hand the call over to Rory. Rory?Rory P. Read Thank you, Ruth, and thank you, all, for joining us on the call today. AMD's third quarter revenue was up $1.69 billion, up 7% from the prior quarter and up 4% year-over-year. And AMD's non-GAAP operating income grew by 28% quarter-to-quarter and was flat year-over-year. In my first 60 days at AMD, I'm excited by the energy and resources I see here and I'm encouraged by what I hear from our customers and partners. AMD clearly continues to play an important leadership role in the industry but there's more to do. There is a lot of interest in our products, and customers are looking for us to improve our execution in order to help them to grow even faster. Third quarter demand for our new AMD platforms was strong, particularly in the mobile processor space, where we saw revenue grow 35% sequentially and 20% year-over-year, clearly outpacing the market in a significant way. Additionally, in the server space, we saw a solid 27% gain in revenues sequentially with solid customer demand for our next-generation Opteron offerings. However, we also had our challenges. We saw both 32 and 45 nanometer supply challenges in the third quarter. No doubt, we must improve our execution and we are taking action to improve our ability to consistently deliver our products on time, day in and day out. We are working with our key partners to improve the process' discipline to deliver on our commitment to our customers. We have more to do, but we are clearly making progress and we are on the right path. Now let's take a deeper look at the mobile segment. In the third quarter, we saw a record AMD processor shipment and revenue in the mobile space. Over 90% of our mobile units were Fusion APUs, which are uniquely suited to meet the advanced processing needs of today's mainstream and entry-level mobile PC buyers. For example, we believe AMD's worldwide share of the $200 to $600 retail price bid is now over 28%. These bands make up 45% of the retail notebook volume across the planet, and we believe AMD gained consumer notebook share in the key emerging markets year-over-year, particularly in China, where our microprocessor revenue grew 23% quarter-on-quarter. Read the rest of this transcript for free on seekingalpha.com