Advanced Micro Devices delivered a first-quarter profit in the latest sign that the PC and server upgrade cycle is gaining momentum.
AMD delivered net income of $257 million, or 35 cents a share, on revenue of $1.57 billion, up from $1.18 billion a year ago (statement). AMD's revenue was down a bit from the $1.65 billion delivered in the fourth quarter. On a non-GAAP basis the chipmaker reported a profit of 9 cents a share.
Wall Street was expecting AMD to report a loss of 5 cents a share. In a statement, AMD CEO Dirk Meyer credited new graphics and server chips for boosting the company's prospects.
http://news.cnet.com/8301-1001_3-20002634-92.html
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