Advanced Micro Devices Reports Q4 Inline With Expectations

Advanced Micro Devices, Inc. (NASDAQ: AMD) announced financial results Tuesday for the fourth quarter of 2014.

Revenue came in at $1.24 billion, inline with estimates and below the $1.59 billion reported in the prior year period.

The company reported an operating loss of $330 million and net loss of $364 million, or $0.47 per share.

Non-GAAP operating income was $36 million, non-GAAP net income of $2 million and breakeven non-GAAP earnings per share. Analysts had expected non-GAAP EPS of $0.01 versus non-GAAP EPS of $0.06 in the prior year period.

"We made progress diversifying our business, ramping design wins and improving our balance sheet this past year despite challenges in our PC business," said Dr. Lisa Su, AMD president and CEO. "Annual Enterprise, Embedded and Semi-Custom segment revenue increased over 50 percent as customer demand for products powered by our high-performance compute and rich visualization solutions was strong. We continue to address channel headwinds in the Computing and Graphics segment and are taking steps to return it to a healthy trajectory beginning in the second quarter of 2015."

For Q1 2015, Advanced Micro Devices expects revenue to decrease 15 percent, plus or minus 3 percent, sequentially.

Advanced Micro Devices traded at $2.28 in the after-hours session, up 1.8 percent.