Advanced Micro Devices (NASDAQ:AMD) results for the company's Q1 have been released. For the quarter, revenue was $1.09 billion, a slide from the $1.59 billion of Q1 2012. Net loss narrowed significantly, however, to $146 million ($0.19 per share) from the year-ago period's $590 million ($0.80).

Analysts had been expecting revenue of $1.07 billion and a per-share loss of $0.18.

AMD also provided selected forward guidance. For its current Q2, it believes revenue will increase by 2%, plus or minus 3%, on a quarter-over-quarter basis, and operating expenses will total roughly $480 million. Looking further into the future, the firm anticipates that quarterly operating expenses will reach $450 million by Q3, capital expenditures will be around $150 million for 2013, and it will show positive free cash flow by the second half of the year.

Fool contributor Eric Volkman has no position in Advanced Micro Devices. The Motley Fool has no position in Advanced Micro Devices. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.