AMD has reported the financial results of its first quarter, showing a substantial year-over-year drop of 31-percent. The company saw its gross margin grow by 41-percent bcause of a $20 million sales of inventory benefit, while its Computing Solutions dropped 9-percent over the last quarter and 38-percent year-over-year. We've got the rest of the numbers after the break.
Operating loss saw improvement over last quarter and year-over-year, coming in at $39 million rather than 2012's Q4 operating loss of $323 million and 2012's Q1 loss of $124 million. Meanwhile, the average sale price of microprocessors fell over the first quarter of last year, but increased sequentially over the last quarter. Overall, the company's graphics segment also saw a drop (12-percent), but rose 3-percent over the last quarter.
The company has boasted a recent expansion of its server graphics solutions via the launch of FirePro R5000 remote graphics cards, which boast functionality over IP networks, as well as a variety of other changes, improvements, and launches. The company says it expects next quarter to see a revenue growth of 2-percent, with the sequential numbers coming in at +/-3-percent.
AMD's President and CEO Rory Read said: "Our first quarter results reflect our disciplined operational execution in a difficult market environment. We have largely completed our restructuring and are now focused on delivering a powerful set of new products that will accelerate our business in 2013. We will continue to diversify our portfolio and attack high-growth markets like dense server, ultra low-power client, embedded and semi-custom solutions to create the foundation for sustainable financial returns."