AMD Outlines Restructuring Plan After Loss
Advanced Micro Devices reported "unacceptable" losses in first quarter revenues and delivered a rough draft of a restructuring plan that executives say will return the company to its former status. (ExtremeTech)Advanced Micro Devices reported dramatic losses in first quarter revenues, which executives called unacceptable. AMD also delivered a rough draft of a restructuring plan that will return the company to its former status, executives said. AMD recorded operating and net losses of $504 and $611 million, respectively, or $1.11 per share. AMD recorded revenue of $1.23 billion, down 30 percent from the fourth quarter and 7 percent from a year ago. That larger-than-expected loss was the topic of a conference call April 19 in which Dirk Meyer, president and chief executive of AMD, said AMD would be undertaking some major restructuring efforts to deal with what he described as "an increasingly complex CPU business."
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