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Thursday, Apr 18
More on AMD: Q2 guidance is for -1% to +5% Q/Q revenue growth, above a consensus of -2%....
More on AMD: Q2 guidance is for -1% to +5% Q/Q revenue growth, above a consensus of -2%. Q1 CPU division sales -9% Q/Q and -38% Y/Y (-37% in Q4), mostly due to lower units (weak PC sales, share loss). CPU ASPs rose Q/Q and fell Y/Y. GPU division +3% Q/Q and -12% Y/Y (-15% in Q4); ASPs up Q/Q and down Y/Y. Gross margin was 41%, up from Q4's 39%, aided by inventory benefit. Cash balance at $1.2B, boosted by Austin campus sale. R&D spend -15% Y/Y, MG&A -22% (job cuts). Inventory rose by $51M to $613M, another increase seen for Q2. AMD -3.2% AH. (PR) (CFO comments) (slides)