AMD beats expectations for second quarter

Advanced Micro Devices reported better-than-expected second-quarter results as demand for notebooks helped the chipmaker beat estimates.

On Thursday, AMD reported a net loss of $43 million, or 6 cents a share, on revenue of $1.65 billion, up from $1.18 billion a year ago. Non-GAAP earnings were $83 million, or 11 cents a share. Wall Street was expecting AMD to report earnings of 6 cents a share on revenue of $1.54 billion.

Like Intel, AMD’s much larger rival, the company said that it was benefiting from increased demand for PCs. Both Intel and research firms such as Gartner and IDC have indicated that a strong upgrade cycle is under way.

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