Going into its earnings report, investor bid AMD (AMD) up over 2% to $15.78.

The company reported financial results for the quarter ended June 30, 2007. AMD reported second quarter 2007 revenue of $1.378 billion, an operating loss of $457 million, and a net loss of $600 million, or $1.09 per share. Sales were up 13% from a year ago. Critical gross margin numbers were up from Q1 rising from 28% to 33%. These were down from 57% in the quarter a year ago.

Thomson Financial had espected revenue of $1.26 billion and and EPS loss of $.85.

Guidance had an air of mystery: "In the seasonally up third quarter, AMD expects revenue to increase in line with seasonality."

Shares rallied up over 3% at 4.53 New York time.

Douglas A. McIntyre