AMD dramatically reduced its losses in the first quarter of this year on lower revenues.
The processor company has finished its restructuring and is diversifying its product offering for markets such as dense servers, ultra low-power clients and embedded processors.
"Our first quarter results reflect our disciplined operational execution in a difficult market environment," said Rory Read, AMD president and CEO.
The company reported operating loss of $98m and a net loss of $146m. Revenues for the first quarter were $1.09bn.
Net loss was $473m in Q4 last year on revenues of $1.16bn.
The company had a first quarter injection of cash with the closing of a sale and leaseback transaction of the “Lone Star Campus” in Austin, Texas generating cash proceeds of approximately $164m, net of certain fees.
Weakness in the PC market hit the chip maker with segment revenues down 9% sequentially and 38% year-over-year.
Microprocessor Average Selling Price (ASP) increased sequentially and decreased year-over-year.
