AMD Cuts Guidance, Expects Revenue To Fall 11%


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Chip maker Advanced Micro Devices unexpectedly announced revenue would fall 11 per cent sequentially in its second quarter, its worst quarterly performance since 2009.Based on those figures, revenue during the three months ended June 30 would fall to $1.41 billion.

AMD attributed the declines to weakness in China and Europe, as well as lower than forecast consumer sales. 

“The lower preliminary revenue results are primarily due to business conditions that materialised late in the second quarter, specifically softer-than-expected channel sales in China and Europe,” the company said in a statement.

Shares are down more than five per cent in after hours trade.

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