Advanced Micro Devices Inc. Q2 Profit Decreases, but beats estimates

(RTTNews) - Advanced Micro Devices Inc. (AMD) reported a profit for second quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $27 million, or $0.02 per share. This compares with $447 million, or $0.27 per share, in last year's second quarter.

Excluding items, Advanced Micro Devices Inc. reported adjusted earnings of $948 million or $0.58 per share for the period.

Analysts on average had expected the company to earn $0.57 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 18.2% to $5.36 billion from $6.55 billion last year.

Advanced Micro Devices Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $27 Mln. vs. $447 Mln. last year. -EPS (Q2): $0.02 vs. $0.27 last year. -Analyst Estimates: $0.57 -Revenue (Q2): $5.36 Bln vs. $6.55 Bln last year.

-Guidance: Full year revenue guidance: $5.4 to $6.0 bln