Firms post strong earnings amid market turmoil

Tech giants AMD, Seagate and Rambus report earnings ranging from blow-out to OK, but investor reaction is positive in early trading.

CNET News staff

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CNET News staff

Jan. 2, 2002 4:43 p.m. PT

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Tech giants AMD, Seagate and Rambus report earnings ranging from blow-out to OK, but investor reaction is positive in early trading.

"AMD had the best quarter in its history."

- AMD chief executive W.J. "Jerry" Sanders

Markets lose steam despite strong earnings
update The Nasdaq composite index gets an early boost but falls by the market's close, despite some optimistic earnings reports from technology firms.

AMD blows past estimates on strong sales
Riding on the strength of its Athlon processor and sales of flash memory, Advanced Micro Devices reports earnings that easily surpass analyst estimates.

Seagate beats the Street despite slow sales
The leading hard drive maker releases mixed quarterly results, reporting lower sales and operating profits but beating analysts' estimates.

Rambus meets estimates, but shares plunge
The company, which licenses technology to speed computer system performance, posts an 88 percent gain in operating profits.