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May 17, 2008 1:23:29 AM CDT

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AMD Gets Closer to Profitable  

Posted Jan 18, 08 11:48 AM CST in Business,  Technology    Most Covered

(newser) – Advanced Micro Devices pleased investors with its fourth-quarter financial report yesterday, as it neared profitability despite a big loss that included its acquisition of graphics chip maker ATI Technologies. AMD execs said they expect to break even early in the second half of 2008, reports the New York Times. AMD shares jumped 35 cents to $6.69 on the news in after-hours trading, and to $6.97 by midday today.

Before the report came out, shares had dropped 23 cents to $6.34 in regular trading. AMD’s jump contrasted with market jitters after AMD’s larger rival, Intel, reported a disappointing outlook for the first quarter earlier this week. One analyst suggested AMD’s report lessened investors’ slowdown fears. “I think the industry was more concerned about overall demand here than AMD,” he said.

Source New York Times

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AMD Gets Closer to Profitable
The dummies of a 200mm wafer, right, and a 300mm wafer, left, are seen at Advanced Micro Devices Inc., in Dresden, Germany, in this March 8, 2007 file photo. (AP Photo/Matthias Rietschel, file)   (Associated Press)
AMD Gets Closer to Profitable
Advanced Micro Devices Inc. CEO Hector Ruiz delivers his keynote at the Oracle Open World conference in San Francisco, Monday, Nov. 12, 2007. AMD is expected to release quarterly earnings on Thursday,...   (Associated Press)
AMD Gets Closer to Profitable
Advance Micro Devices CEO Hector Ruiz gestures at Oracle World Conference in San Francisco, Monday, Nov. 12, 2007. With oil prices surging and U.S. stock prices slumping, chip maker AMD Inc.'s sale of...   (Associated Press)
AMD Gets Closer to Profitable
Advanced Micro Devices CEO Hector Ruiz is seen in this undated photo provided by AMD. (AP Photo/Advanced Micro Devices, ho)   (Associated Press)
AMD Gets Closer to Profitable
The new Opteron chip is seen in this photo released by Advanced Micro Devices Inc. (AP Photo/ Advanced Micro Devices Inc., Tomas Pantin)   (Associated Press)
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