AMD Plays Confusion Game (AMD)
Advanced Micro Devices Inc. (NYSE: AMD) has posted non-GAAP earnings of -$0.66 EPS (including -$0.04 impact) on revenues of $1.177 billion, flat sequentially and down some 21% year over year. Estimates were -$0.66 EPS on $977.8 million in sales for…
As far as guidance, this is very vague. The company is using “current macroeconomic conditions, limited visibility and historical seasonal patterns” to say that it sees product company revenue to be down for the second quarter of 2009. We show estimates at $974.8 million, so that “lower revenue” is not any help considering its revenues were more than $1.1 billion. This is not the first vague guidance from the company nor in its industry.
Shares closed down marginally at $3.30 today and the 52-week trading range is $1.62 to $7.98. So far we see shares down almost 4% at $3.33 after the close.
JON C. OGG
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
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McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
