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AMD Narrows Loss in Q1

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.

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