Chipmaker AMD Expects Sharply Lower Revenue
Authored by Jay Baage on April 9, 2007 - 2:13pm.
NEW YORK - Chipmaker Advanced Micro Devices (AMD) issued a profit warning on Monday, saying it expects to report first-quarter revenue of about $1.23 billion. That is well below Wall Street forecasts. AMD said revenue declined sharply quarter-over-quarter for its computing solutions business, with lower prices and significantly lower unit sales. The company said it plans to reduce 2007 capital expenditures by about $500 million, cut discretionary expenses and limit hiring to critical positions. Related Links: http://tinyurl.com/3ar5hm http://tinyurl.com/33wy76
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