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AMD lowers 2nd-quarter outlook


Tuesday, June 24, 2003

AMD warned that its revenue for the quarter will total about $615 million, or $100 million less than it had forecast in April when it reported first-quarter earnings.

"The anticipated global sales improvement in the month of June did not materialize as we had anticipated," AMD's CEO Robert Rivet said in a statement. "In particular, the decline in personal computer and handset sell-through in China and other Asian markets, largely related to the SARS epidemic, significantly affected AMD's sales in the second quarter."

Analysts predicted that AMD would post a loss of 28 cents per share and revenue of $723 million for the second quarter, according to FirstCall.

In contrast, Intel described the quarter as "seasonal" and is sticking to its outlook. Some analysts had believed that Intel might lower its predictions for the quarter because of SARS.

By: DocMemory
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