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The decline in chip business for personal computers was particularly strong, falling 65 percent to $739 million. By contrast, chip sales for data centers were flat at around $1.3 billion, as AMD announced after the US stock market shutdown on Tuesday.
As a result, it was a loss of $139 million after running aground at $786 million in the same quarter last year. AMD outperformed its larger rival Intel, which posted a quarterly loss of $2.8 billion last quarter. Intel revenue fell 36 percent year on year to $11.7 billion.
After the boom at the start of the pandemic, the PC market is currently in decline. However, the sector expects improvement in the second half of the year. AMD disappointed the stock market with its sales forecast of approximately $5.3 billion for the current quarter. The stock fell a good four percent in post-trading.
(SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
