trending Market Intelligence /marketintelligence/en/news-insights/trending/hvCMJuatSG6PJck3p9o6eQ2 content esgSubNav
In This List

Advanced Micro Devices swings to loss in fiscal Q3

Podcast

Next in Tech | Episode 94: Is it cloud versus datacenter?

Video

According to Market Intelligence, December 2022

Podcast

Private Markets 360° | Episode 1: The role of ESG in Private Equity

Blog

Insight Weekly: Layoffs swell; energy efficiency PE deals defy downturn; 2023 global risk themes


Advanced Micro Devices swings to loss in fiscal Q3

Advanced Micro Devices, Inc. said its normalized net income for the fiscal third quarter ended Sept. 26 came to a loss of 12 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 12 cents per share.

The per-share result swung to a loss from the prior-year profit of 2 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $93.1 million, compared with income of $11.9 million in the prior-year period.

The normalized profit margin dropped to negative 8.8% from 0.8% in the year-earlier period.

Total revenue declined 25.8% on an annual basis to $1.06 billion from $1.43 billion, and total operating expenses decreased 14.3% year over year to $1.17 billion from $1.37 billion.

Reported net income totaled a loss of $196.3 million, or a loss of 25 cents per share, compared with income of $15.7 million, or 2 cents per share, in the prior-year period.