AMD Q1 Revenues Hold Steady
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AMD (NYSE:AMD) reported first quarter fiscal 2011 revenues this week, as the company continues to search for a new CEO.
First quarter fiscal 2011 revenues were reported at $1.61 billion, a 2 percent year-over-year increase. Net Income was reported at $510 million, which is in stark contrast with the $257 million reported for the first quarter of 2010. EPS was reported at $0.68, up from the $0.35 per share in Q1 of 2010.
Part of AMD's plan for growth comes by way of its Fusion Accelerated Processing Units (APU).
"We launched the first of our revolutionary AMD Fusion APU platforms based on our low-power Brazos processors, and we're pleased to report excellent OEM adoption and sell through to end users," Thomas Seifert, Interim CEO at AMD, said during the company's earnings call. "In the first full quarter of availability, roughly half of our notebook shipments were based on Brazos, a product rapidly gaining credit for redefining the user experience in both the Netbook and thin and light notebook segment."
Seifert also highlighted AMD's success with Apple's mobile platforms.
"We are now the exclusive provider of discrete graphics solutions for Apple's iMac and MacBook Pro platforms," Seifert said.
While Seifert was positive on AMD's consumer business, he noted that in the commercial market, there was continued softness in AMD's overall Server business.
"While disappointed with our top line trajectory in the Server business, we've taken a number of steps that we believe should lead to improved results in the second half of the year," Seifert said. "First, we have on-boarded a larger team of experienced customer account engineers who are now engaged with customers."
Seifert added that the AMD is now also working working more closely with OEM partners to drive the new AMD-based systems into the hands of key cloud virtualization customers.
AMD is also gearing up to ship its new Bulldozer chip based server platforms towards the end of the summer.
"Our new Bulldozer core delivers substantial improvements in floating-point performance in a platform featuring superior memory utilization and I/O throughput," Seifert said.