AMD's non-GAAP operating net loss was $73 million on revenue of $1.03 billion.. The same period in the previous year had $1.40 billion in revenue.

Wall Street had been were expecting a loss but after Intel posted its results the word on the street was that AMD would not do so badly. Of course everyone was wrong, AMD has not really had a decent product to win over anyone's hearts and minds this quarter.

AMD added that its Computing and Graphics segment revenue decreased 20 per cent sequentially and 38 per cent from a year ago. Its Enterprise, Embedded and Semi-Custom segment revenue decreased 14 per cent sequentially and 7 per cent from a year ago.

What is worse is that AMD can't see things getting better for a while AMD sees revenues falling by 3 per cent sequentially.

This implies that revenues would be roughly $999 million at the mid-point of -3 per cent, or as low as $970 million or as much as $1.03 billion.
Dr. Lisa Su, AMD's president and CEO, said in her official quote on the quarterly report that the company was building great products, driving deeper customer relationships and simplifying its business.

"We are taking the right long-term steps to strengthen AMD and improve our financial performance. Under the backdrop of a challenging PC environment, we are focused on improving our near-term financial results and delivering a stronger second half of the year based on completing our work to rebalance channel inventories and shipping strong new products."

Die SeaMicro

The cunning plan is simplify and sharpen the company's investment focus, AMD is exiting the dense server systems business, formerly SeaMicro, effective immediately.

To be fair to AMD, some of its problems are its costly restructuring, which seem to be dragging on and are costing the outfit a bomb.