14 DAY TRIAL // The restructuring and change in direction that Advanced Micro Devices decided on, two years back, seems to be bearing fruit, as the corporation is finally making a profit, even if a small one.
During many of the previous eight quarters, Advanced Micro Devices incurred losses instead of making a profit.
Whether it was because of acquisitions or too much personnel, or just the general weakening business in front of a flagging PC market and Intel's increasing pressure, AMD hasn't been doing all that spectacularly, financially.
And with Intel basically scoring record revenues quarter after quarter, it's not hard to realize that someone had to suffer from it.
Then again, AMD has been reshaping its business, firing executives and hiring others, laying off people and reducing emphasis on CPUs.
So it's actually a ray of sunshine that it made a net profit, even if it was of just $48 million / €35 million.
Revenue was of $1.46 billion for Q3 2013, which is around the same as €1.07 billion. Meanwhile, the operating income was of $95 million / €65 million.
"AMD returned to profitability and generated free cash flow in the third quarter as we continued to successfully execute the strategic transformation plan we outlined a year ago," said Rory Read, AMD president and CEO.
"We achieved 26 percent sequential revenue growth driven by our semi-custom business and remain committed to generating approximately 50 percent of revenue from high-growth markets over the next two years. Developing industry-leading technology remains at our core, and we are in the middle of a multi-year journey to redefine AMD as a leader across a more diverse set of growth markets."
AMD expected revenue to grow a further 5% in the fourth quarter of the year (October-December 2013), plus or minus 3% sequentially (quarter-on-quarter).