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AMD (AMD): More Of The Same, Which Is Not Good
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AMD (AMD) had another dreadful quarter. It is a wonder that the NYSE even lets the company keep its membership card. The firm reported third quarter 2008 revenue from continuing operations of $1.776 billion, up 14% compared to last year.
AMD’s graphics product revenue did do well, moving up 55% sequentially from the second quarter.
Gross margins across the company were 51% compared with 52% in Q2 and 41% in Q3 last year.
AMD had operating income of $131 million compared to a loss of $181 in the same quarter last year.
Guidance was poor. AMD said revenue for Q4 will be flat with Q3.
Douglas A. McIntyre
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