AMD Reports 2014 Second Quarter Results

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AMD today announced revenue for the second quarter of 2014 of $1.44 billion, operating income of $63 million and net loss of $36 million, or $0.05 per share. Non-GAAP operating income was $67 million and non-GAAP net income, which primarily excludes $49 million of loss from debt redemption in the quarter, was $17 million, or $0.02 per share.

“The second quarter capped off a solid first half of the year for AMD with strong revenue growth and improved financial performance,” said Rory Read, AMD president and CEO. “Our transformation strategy is on track and we expect to deliver full year non-GAAP profitability and year-over-year revenue growth. We continue to strengthen our business model and shape AMD into a more agile company offering differentiated solutions for a diverse set of markets.”
 
It is amazing how long AMD has survived when they lose money almost every single quarter :eek:
 
Investors seem to really be on board with this transformation strategy and strengthened, more agile AMD... you can tell because of the 18% drop in share price.
 
Investors seem to really be on board with this transformation strategy and strengthened, more agile AMD... you can tell because of the 18% drop in share price.

Doesn't mean a thing. There's profit grabbers out there. It's like everyone buying facebook to watch it plummet afterwards (but I didn't invest in FB either) :)

This is what is killing AMD
During Q2 2014, the company continued re-profiling its near-term debt maturities, issuing $500 million in aggregate principal amount of 7.00% Senior Notes due 2024 and repurchasing all $452 million aggregate principal amount of the company’s outstanding 8.125% Senior Notes due 2017.

That is a hell of a note rate.
 
How in the world does AMD manage to stay in business while not turning a net profit as far as I can remember.
 
How in the world does AMD manage to stay in business while not turning a net profit as far as I can remember.

Basically a combination of a mountain of debt and selling off assets. I think AMD is finally starting to turn things around as they have all but abandoned the high end market and are focusing more on competing in the laptop and tablet markets. Still an uphill battle because Intel has 1,000x the resources, but better than a few years ago.
 
elephant in the room.... nobody is buying AMD GPUs for litecoin / alt mining anymore.
 
Didn't they just end up with a bunch of •semi• important Intel people?

Did I dream that? I could have.
 
"Yeah but I thought they were in the nextgen consolez and were gonna be rich"

LOL
 
"Despite all the evidence to the contrary, AMD is doing great!"
 
Ouch, computing segment (CPUs for desktops/laptops/tablets) revenue fell 20% vs same quarter last year and no mention of "big core" x86 server chip sales at all in the conference call transcript. A segment of SeaMicro sales was briefly mentioned, but not the server chip sales as a whole. This is the 2nd quarter in a row where AMD no longer discusses x86 server chip plans.

I wonder if AMD is finally throwing in the towel for "big core" x86 Opterons.
 
AMD is working on paying off their debt, and they are doing a good job. When they are debt free, we will start to see an even stronger AMD. Despite what most of these commenters think, AMD is actually digging its way out of the hole, and has a bright future.
 
Shit man, I guess folks just hating on AMD now. (Says it is in Southern Drawl.) MisterHipster, you I agree with.
 
congrats to those who cashed out.

If I got in at 3.80, I would have cashed out at 4.70
 
they need to somehow get out of that stupid contract they have with globalfoundries
 
AMD is working on paying off their debt, and they are doing a good job. When they are debt free, we will start to see an even stronger AMD. Despite what most of these commenters think, AMD is actually digging its way out of the hole, and has a bright future.

Their debt went up this quarter.
 
they need to somehow get out of that stupid contract they have with globalfoundries
GLF might accept that, but it's probably too rich for AMD's blood. Related, especially in light of demand collapsing last quarter: http://www.zacks.com/stock/news/128540/Advanced-Micro-Revises-GlobalFoundries-Contract

tl;dr in April 2014 AMD's new contract orders more from GLF in 2014 ($1.2 billion) than it did in 2013 (initially $1.15 billion, revised down to $960 million). I'm sure that will work out well.
 
I didn't know gloflo made all those other things for AMD. Maybe it is better for AMD now that they can make more than just x86 chips for them. I remember a couple years back AMD basically paid them 300 or maybe it was closer to 600 million for gloflo not to produce the x86 chips that AMD was obligated to buy. I don't remember the exact details but I remember thinking AMD signed an awful contract with them and got screwed over big time.
 
The reason AMD made a payment was due to the deal AMD made when selling off its fabs. AMD received a big hunk of cash and reduction of debt load in return for a guaranteed minimum amount of orders from GLF (which basically amounts to an up-front rebate). Not meeting agreed minimum orders meant AMD had to make up for the shortfall. Of course the whole thing was messy because GLF was having production problems and AMD could place orders at another foundry.
 
Good thing for competition because Intel i5 is a throttling pile of poop and it's misleading of them to list the unattainable max clock speed instead of base clock.
 
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