Chipmaker Advanced Micro Devices (AMD) revenue fell for the fifth straight quarter due to continued weak demand from PC makers for its processors.
The tech firm posted a net loss of $197 million, or 25 cents per share, in the third quarter ended September 6, compared with net income of $17 million, or 2 cents per share, a year earlier.
The company also reported a revenue decline of 25.6% to $1.06 billion.
AMD largely rely’s on the PC market for its profits and PC sales have been slammed by increased mobile handset sales, the shift to tablets and convertibles, and a free Windows 10 upgrade which has allowed customers to avoid purchasing a new PC.
Peter Mondrose is the Editor-In-Chief at BusinessPundit. He received his degree in Economics in 1998 and a second degree in Journalism in 2004. He has served as a financial adviser, market trader, and freelance journalist for the last 11 years. When he's not investigating market conditions and reporting on workplace news, he can be found traveling with his wife, dog, and laptop. He can be reached at OnlineDegree.com.