Advanced Micro Devices, Inc. (NYSE:AMD) reports its first-quarter earnings today, and analysts are looking for a loss of 17 cents per share, compared to a profit of 12 cents per share in the same quarter a year ago. Revenue is expected to be $1.05 billion for the first quarter. For the full fiscal year, consensus is for 30 cents per share in losses on $4.55 billion in revenue.
According to Forbes, the company’s revenue has dropped in all four of the last four quarters. In the fourth fiscal quarter of Advanced Micro Devices, Inc. (NYSE:AMD), the company’s revenue was $1.16 billion, a decrease of 31.7 percent year over year.
The greatest majority (16 out of 24) have given AMD a Hold rating, especially ahead of the company’s next earnings report. Another item investors and analysts will be watching is the release of AMD’s new Radeon HD 7990 flagship graphics card. Hardware.info reports that the card will be introduced next week on Wednesday. Also a sample of the card is now on eBay.
The card apparently has two AMD Tahiti cores and an effective speed of 6 GHz. Investors and analysts will be looking at sales of the new card in future quarters as they gauge whether or not AMD is in the process of actually turning things around.
NASDAQ reports that Advanced Micro Devices, Inc. (NYSE:AMD) is scheduled to hold a conference call on its earnings this evening at 6 p.m. Eastern to discuss its first-quarter earnings results.
As of the moment of this writing, shares of Advanced Micro Devices, Inc. (NYSE:AMD) had fallen 2.21 percent since opening bell.