AMD issues fourth-quarter warning
Faced with a significant revenue decline across all geographies and businesses, chipmaker warns its fourth-quarter performance will be lower than expected.
Advanced Micro Devices warned Thursday its fourth-quarter revenue will come in significantly lower than previously expected, due to weakness across all regions in all its businesses.
AMD shares were climbing back up in the morning, after having dipped to as low as $1.92 just after the markets opened.
The chipmaker said Thursday it expects to post revenue of $1.19 billion in the quarter ending December 27, excluding process technology license revenue. That's 25 percent below its third-quarter performance.
When the company reported its third-quarter revenue of $1.59 billion (excluding the process tech license revenue) in October, AMD predicted its fourth-quarter revenue would be "roughly flat" that of the third quarter.
While AMD is still willing to issue a forecast for its fourth quarter, a number of companies that have released quarterly warnings since late October have indicated they are not willing to stick their necks out again in this uncertain climate.
SAP, for example, pulled its year-end forecast, after reporting third-quarter results. And Dell, when it reported its third-quarter results, declined to provide any guidance on how it expected the fourth quarter to shape up.