Advanced Micro Devices (AMD) reports after close today with a conference call scheduled for 5:00 PM EST. The street is bearish, especially after Intel’s (INTC) quarter suggested that AMD hemorrhaged share. Shares are down 21% since its last quarter, in which management reported unexpected margin expansion. Optimism didn’t last, however, as the firm was plagued by delays and glitches.
A slowly deteriorating macroeconomic environment is also expected to take its toll, with Intel reporting flat ASPs and continued price deflation in NAND. Shipments of AMD’s Barcelona chip will also be of interest. The 100,000 units shipped in December missed expectations. AMD has already adjusted its revenue guidance down to $1.50 billion from $1.61 billion and has pledged to trim its workforce by 10% (1600 workers) by the end of Q3.
- Revenue: ~ $1.50 billion (Guided down from previous estimates of $1.61 billion)
- Gross Margin: ~ 59%
- EPS: -$0.51
- Outlook: 2008: $6.403 billion / -$1.24 2009: $7.665 / $0.28
- 2008: $6.403 billion / -$1.24
- 2009: $7.665 / $0.28
Our AMD Financial Analysis Spreadsheet is here.
We will cover the conference call live at 5:00PM EDT/ 2:00PM PDT
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