Somebody alert the authorities! Flying pigs are throwing snowballs at Beelzebub under a blue moon!
Okay, not really. But Advanced Micro Devices
AMD reported a profit from continuing operations of $0.07 per share on sales of $1.78 billion. Gross margin expanded from 41% during last year’s third quarter to 51% in the current quarter. That's still nowhere near Intel
But if you thought this report was impressive compared to a two-year string of losses and financial woes, just hold your horses. The "asset smart" manufacturing strategy hasn't actually happened yet -- it's still just an agreement on paper, and AMD stands to improve its operating model something fierce. Texas Instruments
And that's not all. That expensive ATI deal is starting to pay dividends as the graphics segment produced $47 million of operating income, which made the difference between red and black ink on the operating line. Sales in this division exploded with a 55% gain over last quarter and an avalanche of high-performance graphics chips. NVIDIA
CEO Dirk Meyer and his team are delivering on their promises at long last. Do this a couple more times -- in a row! -- and you'll convince the doubters that the worst is over, guys. After teetering on the brink of financial disaster for far too long, AMD could be the next turnaround story of Apple's caliber. And we won't be reminded of winged pigs the next time you make some money.
Fool contributor Anders Bylund owns shares in AMD, but he holds no other position in any of the companies discussed here. You can check out Anders' holdings or a concise bio if you like, and The Motley Fool is investors writing for investors.