AMD reports US$375mn in Q4 net profits

Friday, January 21, 2011

US semiconductor company AMD's Q4 net profits of US$375mn were a 68.5% increase over 3Q10, but a 71% drop in comparison to the US$1.29bn in earnings the company saw during Q4 in the previous year.

AMD's Q4 revenues came in at US$1.65bn, a 2% increase over its US$1.62bn in revenues during 3Q10 and flat year-on-year growth, according to financial results released by the company.

Meanwhile, the US$471mn net profits posted for full-year 2010 represent a 35.5% increase compared with 2009's US$304mn. In yearly revenues, AMD posted US$6.49bn compared with US$5.4bn the previous year.

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According to AMD's CFO and interim CEO, Thomas Seifert, the company can drive profitable growth based on new products it will bring into the market. AMD expects upcoming first quarter revenues to remain flat or show a slight decline compared with 4Q10.

At the beginning of the year, AMD announced that Seifert would act as interim CEO while the board of directors searched to replace former CEO Dirk Meyer after his resignation. Seifert has asked not to be considered for the position.

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