AMD turns a first-quarter profit

CEO Dirk Meyer credits new graphics and server chips for boosting the company's prospects.

Advanced Micro Devices delivered a first-quarter profit in the latest sign that the PC and server upgrade cycle is gaining momentum.

AMD delivered net income of $257 million, or 35 cents a share, on revenue of $1.57 billion, up from $1.18 billion a year ago (statement). AMD's revenue was down a bit from the $1.65 billion delivered in the fourth quarter. On a non-GAAP basis the chipmaker reported a profit of 9 cents a share.

Wall Street was expecting AMD to report a loss of 5 cents a share. In a statement, AMD CEO Dirk Meyer credited new graphics and server chips for boosting the company's prospects.

Read more of "AMD turns a first quarter profit" at ZDNet's Between the Lines.

About the author

    Larry Dignan is editor in chief of ZDNet and editorial director of CNET's TechRepublic. He has covered the technology and financial-services industries since 1995.

     

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