Chip maker warns first-quarter revenue is expected to fall 10%
Advanced Micro Devices Inc. reported Tuesday a 98% decline in net income for the fourth quarter as operating expenses more than doubled and sales linked to its PC clients were cut in half.
The Santa Clara, Calif.-based
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chip maker, whose central processing units are used to build videogame consoles and gaming PCs, said net income for the period fell to $21 million, or 1 cent a share, from $974 million, or 80 cents a share, for the same period a year earlier. The company said the decline was mostly linked to its acquisition of semiconductor company Xilinx Inc.
