AMD surprises with strong Q3 earnings

AMD surprises with strong Q3 earnings

AMD reported better than expected results, with revenues of $1.5 billion for Q3 2005.

Taking advantage of its technical lead over Intel in the dual-core server processor market, Advanced Micro Devices (AMD) has reported better-than-expected results for its third fiscal quarter of 2005.

Revenue for the quarter was up 23 per cent, year-over-year, totalling $US1.5 billion for the quarter, AMD said in a statement. Net income amounted to $US76 million for the quarter.

Over the past few years, AMD has managed to catch Intel off stride, beating its much larger competitor to market with chips that use 64-bit extensions of Intel's own x86 instruction set, and being first to market with dual-core server processors.

That lead has apparently helped sales within AMD's microprocessor group, which saw revenue jump 44 per cent from last year's total. Revenue from microprocessor sales totalled $US969 million for the quarter, up from $US673 million in the third quarter of 2004.

Sales of server, desktop and mobile processors were all strong during the third quarter, AMD said.

AMD expects revenue from microprocessor sales next quarter to be up by between 42 and 50 per cent over the fourth quarter 2004 results, the company said.

AMD's results were not all good, however. Sales fell at AMD's Memory Products Group, which sells the company's MirrorBit flash memory products. Revenue for the quarter, which ended September 25, totalled $US516 million, down from $US538 million during the previous year.

AMD is in the process of spinning its Memory Products Group, which it operates as a joint venture with Fujitsu, into a separate company.

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