Friday, October 16, 2009

AMD Reports 3Q09 Operating Profit

Most Americans cannot read and comprehend. But the news is AMD is profitable now.

The idiot who wrote this can't understand plain English.
http://seekingalpha.com/article/167233-amd-q3-results-approach-breakeven

He says: "Revenue of $1.39 billion was up 17.9% sequentially and down 21.4% year over year, better than management’s expectations of a slight sequential increase. However, excluding the $191 million in one-time process technology license revenue, it was up 1.8% sequentially and down 32.2% year over year, in-line with management expectations."

Basically, he is saying that AMD 3Q09 revenue was really 1.39-0.19 = 1.2 billion.

And this is what Rivet said in the conference call:

"Third quarter revenue was $1.396 billion, growing 18% compared to the second quarter of 2009. Compared to the third quarter of last year, revenue declined 22%. However, excluding the $191 million Process Technology License revenue, revenue declined 13% on a non-GAAP basis."

Obviously, the $191 million licensing revenue happened in 3Q08.

AMD made $80 million profit in 3Q09.

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