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AMD's financial woes diminish - 2010 is bright

Report their first net profit in years

| Business, Financial & Legal News | Posted: Jan 22, 2010 7:09 am

After experiencing several years of financial losses, things are looking up for AMD once again with reported revenues of $1.65 Billion in Q4'2009 and net income of $1.18 Billion.

 

Had it not been for a $1.25 Billion settlement payment received due to an antitrust dispute with direct competitor Intel, we would have witnessed yet another reported loss. AMD's CEO Dirk Meyer is all smiles for 2010; "We enter 2010 having completed the transition to a fabless business model, reached a historic antitrust settlement, and made significant progress strengthening our balance sheet."

 

However, even with Intel's $1.25 Billion payment to AMD, it too reported revenues up by 28% for Q4'2009, reaching 10.6 Billion and a net profit of $2.3 Billion.

 

NEWS SOURCES:Electronista.com

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