Advanced Micro Devices, Inc. (NYSE: AMD) reported the fall of 3.73% to close at $7.49 whereas total traded volume stood at 35.89 million shares. Its price to earnings ratio arrived at 4.68.
AMD reported second quarter earnings of 12 cents a share (excluding the impact of GlobalFoundries), beating the Analysts Consensus Estimate of 6 cents. The company is seemingly being benefited by the surge in information technology spending. The foundry business of AMD was included in the financial statements by means of equity method, still the leverage ratio remains high.
The inventory to sales ratio is consistent showing efficient management. Computing Solutions generated $1.21 billion, up 4.5% sequentially and up 30.9% from the year-ago quarter. The notebook and graphic chip segments growing by double digits were major contributors in the growth of revenue.
During the quarter, AMD repurchased $206 million principal amount of its 6% Convertible Senior Notes due 2015, for a total value of $200 million. AMD expects that its third quarter revenues will grow sequentially 5 to 10% as it is witnessing a strong demand for the notebook chipset. The increased marketing has led to an increase in the operating expenses to $630 million up by $30 Million.
Advanced Micro Devices, Inc. (AMD) is a global semiconductor company. The Company designs and sells microprocessors, chipsets and graphics processors. It offers x86 microprocessors, for the commercial and consumer markets, embedded microprocessors for commercial, commercial client and consumer markets and chipsets for desktop and notebook personal computers (PCs), professional workstations and servers. The Company operates in three business segments: the Computing Solutions segment, which includes microprocessors, chipsets and embedded processors and related revenue; the Graphics segment, which includes graphics, video and multimedia products and related revenue, as well as revenue received in connection with the development and sale of game console systems that incorporate its graphics technology, and the Foundry segment, which includes operating results attributable to front end wafer manufacturing operations and related activities.
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