AMD reported Friday lost $146 million in the first quarter of 2013, sending the stock price down four percent during after-hours trading despite beating the expectations of analysts. While this loss still may seem substantial, it’s far less than what the company posted in the fourth quarter of 2012, $473 million, or the first quarter of that same year $590 million.
“Our first quarter results reflect our disciplined operational execution in a difficult market environment,” said Rory Read, AMD president and CEO, in a statement. “We will continue to diversify our portfolio and attack high-growth markets like dense server, ultra low-power client, embedded and semi-custom solutions to create the foundation for sustainable financial returns.”
The company’s report proved that it’s not immune to the great PC downtown that hit rival Intel hard. AMD’s PC-division revenue decreased 9 percent sequentially and 38 percent year-over-year. Over at Intel, its PC Client Group revenue decreased 6.6 percent sequentially and 6 percent year-over-year, though it still managed to make $2 billion in profit in Q1.
AMD’s last profitable year was 2011, when it posted $491 million in profit. In 2012, the company lost approximately $1 billion.