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January 20, 2006

AMD wows Wall Street

Posted by David Hunter at 12:51 PM ET.

Ashlee Vance at The Register:

Investors celebrated Wednesday afternoon after AMD issued glowing fourth quarter results. Record sales of server and notebook processors pushed AMD’s revenue higher, and shareholders remained bullish on AMD after seeing the sales figures. AMD’s stock surged more than ten per cent in the after-hours markets.

Excluding the results of the memory unit AMD has spun out as Spansion, AMD posted fourth quarter sales of $1.35bn – a 78 per cent year-over-year increase. In addition, its net income hit $268m as compared to $59m in 2004.

The AMD results are in stark contrast to those from much larger chipmaker Intel, which yesterday missed its own fourth quarter earnings forecast. While Intel pointed to weak demand for PC chips as one reason for this miss, AMD celebrated its server, notebook and PC products.

We mentioned Intel’s disappointing earnings on Wednesday.



Filed under AMD, Financial, General Business, Hardware

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