Advanced Micro Devices (AMD) saw its loss narrow to $73 million, or $0.08 a share for the quarter ended Apr. 01, 2017. In the previous year period, the company reported a loss of $109 million, or $0.14 a share. On the other hand, adjusted net loss for the quarter narrowed to $38 million, or $0.04 a share from a loss of $96 million or $0.12 a share, a year ago. Revenue during the quarter grew 18.27 percent to $984 million from $832 million in the previous year period. Gross margin for the quarter expanded 131 basis points over the previous year period to 33.64 percent. Operating margin for the quarter stood at negative 2.95 percent as compared to a negative 8.17 percent for the previous year period.
Operating loss for the quarter was $29 million, compared with an operating loss of $68 million in the previous year period.
However, the adjusted operating loss for the quarter stood at $6 million compared to operating loss of $55 million in prior year period.
"We achieved 18 percent year-over-year revenue growth driven by strong demand for our high performance Ryzen CPUs as well as graphics processors," said Dr. Lisa Su, AMD president and chief executive officer. "We are positioned for solid revenue growth and margin expansion opportunities across the business in the year ahead as we bring innovation, performance and choice to an expanding set of markets."
For the second-quarter 2017, Advanced Micro Devices forecasts revenue to grow in the range of 20 percent to 14 percent.
Operating cash flow remains negative
Advanced Micro Devices has spent $299 million cash to meet operating activities during the quarter as against cash outgo of $42 million in the last year period. The company has spent $246 million cash to meet investing activities during the quarter as against cash outgo of $26 million in the last year period.
Cash flow from financing activities was $3 million for the quarter as against cash outgo of $1 million in the last year period.
Cash and cash equivalents stood at $722 million as on Apr. 01, 2017, up 0.84 percent or $6 million from $716 million on Mar. 26, 2016.
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