AMD Q1 Reports Modest Increase Thanks to APUs

AMD has released its Q1 financial results, showing the processor space is still very much alive and kicking, thanks to continued demand for mobile devices and the success of AMD's APUs. Read on for the financial details ...

AMD's Q1 revenues increased 2 percent to 1.61 billion, from $1.57 billion in the corresponding quarter last year, but a 2 percent decrease from Q4 of 2010. The company's net income increased to $510 million, up from $257 million in Q1 of 2010 and an increase of nearly 50 percent year-over-year. Its operating income was $54 million. Company CFO and interm CEO Thomas Seifert noted AMD's successes this quarter were due mainly to its new APUs exceeding AMD's anticipated demand.

MarketWatch reports that AMD did better than expected, with AMD stock closing at almost 1 percent higher, but dropping to $8.67 a share after hours from its $8.71 closing price.

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