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Jul 18, 2008

AMD posts $1.189b loss, CEO Hector Ruiz steps down

AMD posts $1.189b loss, CEO Hector Ruiz steps down atigraphics2

AMD on Thursday posted disappointing second quarter results, citing a net loss of $1.189 billion, or $1.96 per share, while also announcing that CEO Hector Ruiz would step down from his position. In terms of continuing operations, the net loss was posted as $269 million (44¢ per share), with operating losses at $143 million. Net favorable impact sits at $97 million (16¢ per share), while losses from discontinued operations came in at $920 million ($1.52 per share) and impairment charges at $876 million ($1.44 per share).

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