$AMD Post a Smaller Loss Than Expected

“Advanced Micro Devices reported a fourth-quarter loss on a non-GAAP basis that was narrower than analysts’ estimates.

The chip maker’s shares rose after the closing bell. What is AMD’s stock doing now? (Click here for the latest quote after the bell.)

AMD reported a loss per share of 63 cents on revenue of $1.16 billion. On a non-GAAP basis, AMD’s operating loss was 14 cents per share. Revenue was down nearly a third from the year-earlier quarter as it grapples with a declining PC market and a shift toward smartphones and tablets.

The company’s gross margin contracted to 15 percent from 46 percent a year earlier.

The Street had expected a 20 cent loss on $1.15 billion in revenues, according to Thomson Reuters estimates….”

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