Investors Hammer AMD Stock After Posting $36 Million Loss in Second Quarter

[[Coi] Mr.CLuBBeR]

AMD's stock price is down around 18 percent since the chip maker posted Q2 financial results

Sometimes it seems like AMD can't catch a break. That's certainly true of its second quarter performance -- the Sunnyvale chip maker announced Q2 revenue of $1.44 billion, representative of a 3 percent sequential bump and a year-over-year jump of 24 percent. Not too shabby, though at the end of the day, AMD's debt burden dragged the company down by contributing to a net loss of $36 million.
Total debt for the end of the quarter was $2.21 billion, up from $2.14 billion at the end of the previous quarter. Otherwise, AMD did well for itself, most notably in its Graphics and Visual Solutions segment, which saw revenue jump 5 percent sequentially and 141 percent year-over-year driven largely by its semi-custom SoC shipments for game consoles.
"The second quarter capped off a solid first half of the year for AMD with strong revenue growth and improved financial performance," said Rory Read, AMD president and CEO. "Our transformation strategy is on track and we expect to deliver full year non-GAAP profitability and year-over-year revenue growth. We continue to strengthen our business model and shape AMD into a more agile company offering differentiated solutions for a diverse set of markets."
Read's optimism isn't being shared by investors. Following AMD's Q2 earnings report, the company's stock price slid around 18 percent (at the time of this writing).
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