SUNNYVALE, Calif. (AP) _ Advanced Micro Devices Inc. (AMD) on Monday reported a loss of $73 million in its first quarter.
The Sunnyvale, California-based company said it had a loss of 8 cents per share. Losses, adjusted for stock option expense and non-recurring costs, were 4 cents per share.
The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.
The chipmaker posted revenue of $984 million in the period, also surpassing Street forecasts. Nine analysts surveyed by Zacks expected $982.6 million.
Advanced Micro shares have risen 20 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $13.62, nearly quadrupling in the last 12 months.
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