Advanced Micro Devices (NYSE: AMD) has reported that the company registered record revenues during the second quarter of 2010. In the report released yesterday, the company has revealed that its second quarter loss has now reduced to $43 million or 6 cents per share riding on the $1.65 billion revenues made during this three month period.
Let’s look at it in perspective. AMD’s revenues in Q2 2009 was $1.18 billion. During this period, the company registered a loss of $330 million (49 cents per share) which equalled a non-GAAP net loss of $244 million. The corresponding number this quarter is $83 million or 11 cents per share.
So what has caused this revenue gain? According to Dirk Meyer, the CEO at AMD, there has been a solid demand for mobile chips during this period. Meyer has also attributed the growth to “solid execution” from his team.
The results have given a boost to investors as AMD’s NASDAQ stock rose 2.56% to 7.60 in the after-hours of trading. With AMD’s outlook looking much more positive in the quarter ahead, expect investor confidence to build even more.