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.