14 DAY TRIAL // We really have to wonder what it means when the best compliment one can bring to the financial results of a company, in this case AMD, is that it suffered the smallest loss ever seen in a year.
Sadly, the heavy reorganization that Advanced Micro Devices went through over the past couple of years did not allow for much monetary gain.
Backing out of the high-end chip market (in a sense) and failing to get a foothold in the tablet segment (despite a few demos) didn't help either.
Thus, the Sunnyvale, California-based corporation has been losing money every year.
The first quarter of 2013 did not show much of a change, although, as we said, the amount of money lost was the lowest yet.
With revenue at $1.09 billion / €830 million (6% lower than in the fourth quarter of 2012), the operating loss was of $98 million / €74 million and the net loss was of $146 million / €111 million.
“Our first quarter results reflect our disciplined operational execution in a difficult market environment,” said Rory Read, AMD president and CEO.
“We have largely completed our restructuring and are now focused on delivering a powerful set of new products that will accelerate our business in 2013. We will continue to diversify our portfolio and attack high-growth markets like dense server, ultra low-power client, embedded and semi-custom solutions to create the foundation for sustainable financial returns.”
For the rest of 2013, AMD might just rebound the rest of the way, thanks to scoring the deal with Sony for providing the semi-custom AMD APU for the PlayStation 4 game console.
The Never Settle game bundling program should help as well, as should the Turbo Dock technology and the reputation that comes with being dubbed Top Corporate Citizen by CR Magazine.