updated 07:10 pm EDT, Thu October 27, 2011
Profits boosted by chip demand
AMD has announced its third-quarter financials, posting a net income of $97 million from total revenues reaching $1.69 billion. The company's new CEO, Lenovo veteran Rory Read, points to significant increases in chip demand in some overseas markets, along with a 35-percent revenue increase in the notebook segment due to strong APU sales.
"Despite supply constraints, we saw double digit revenue and unit shipment growth in emerging markets like China and India as well as overall notebook share gains in retail at mainstream price points," Read said in a statement.
Although AMD's third-quarter revenues last year reached $1.62 billion, the company posted a $118 net loss as demand faltered and average selling prices (ASPs) slid. A September announcement warned of lower-than-expected revenues for the third quarter in 2011, as problems with 32nm fabrication continue to restrict chip yields.
AMD expects revenues to increase by three percent for the fourth quarter of the year.