AMD have announced their Q4 2008 and full-year financial performance, and as expected it’s a wash-out. The chip-maker posted a net loss of $3.098 billion for the year, with Q4 revenue down 33-percent compared to Q4 2007 and down 35-percent compared to Q3 2008. Even taking out losses for discontinued operations (which amount to $10m), AMD’s ongoing businesses made a loss of $1.414 billion in the most recent quarter.
Total revenue for 2008 was $5.808 billion, and while the net loss was huge it will come as a little consolation to AMD that it’s a slight improvement on 2007’s overall performance. Then, despite making a little more (total 2007 revenue was $5.858 billion) they posted an even greater net loss of $3.379 billion.
Don’t hold your breath for a sudden turnaround, though. Like many other big-name companies, AMD is being cautious with cold hard numbers when it comes to financial predictions, but citing “current macroeconomic conditions, very limited visibility and continued corrections in the supply chain” they do suggest that Q1 2009 revenue will be even less than Q4 2008. The company previously announced plans to cut 1,100 jobs, among other things, in an attempt to save ongoing costs.