AMD raises Q4 revenue forecast
Austin Business Journal
Sunnyvale, Calif.-based Advanced Micro Devices Inc. [NYSE: AMD] is predicting higher than expected sales for its fourth quarter ending Dec. 30.
Overall fourth-quarter revenue growth will be into the 10 percent or better range when compared to third quarter sales of $765.9 million, according to the release.
AMD previously expected fourth-quarter revenue to be flat to high single-digit percentage growth, according to a company news release about its third quarter earnings.
The company still expects a net loss but it will be lower than its third-quarter posting of $186.9 million.
AMD is attributing a "robust" demand for its Athlon XP personal computer processor, which was introduced on Oct. 9. Flash memory sales are expected to be no better than flat, the release states.
Shares of AMD closed at $16.25 Dec. 6. The 52-week range is $7.69 to $34.65.
AMD continues to expect it will return to profitability in the second quarter of 2002, the release states.
For more information about AMD's third-quarter earnings visit (http://austin.bcentral.com/austin/stories/2001/10/15/daily39.html).
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