AMD rides semi-custom business back to profitability, cites net income of $48 million in Q3 earnings

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We had our doubts when AMD promised to bounce back from its second quarter slump , but the company has held its word, reporting a net income $48 million in its Q3 financial reports. Why the jump? AMD cites growth in its Graphics and Visual Solutions (GVS) division, which is responsible for semi-custom products like the chips bound for the upcoming PlayStation 4 , Xbox One and the floundering Wii U . “We achieved 26 percent sequential revenue growth driven by our semi-custom business and remain committed to generating approximately 50 percent of revenue from high-growth markets over the next two years, ” AMD President and CEO Rory Read stated in the earnings announcement. Not every portion of AMD’s business is flourishing, however — both its Computing Solutions and GPU segments saw a drop in revenue over the past year, and the company admits that it’s shipping fewer notebook chipsets these days. Even so, the numbers bode well for the company, which posted a total revenue of $1.46 billion for the quarter, alongside an optimistic outlook. After all, the company’s Mantle graphics cards are just around the corner. Filed under: AMD Comments Via: Market Watch Source: AMD

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AMD rides semi-custom business back to profitability, cites net income of $48 million in Q3 earnings

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