SAN JOSE, Calif. Propelled by its microprocessor business, Advanced Micro Devices Inc. (AMD) smashed Wall Street’s expectations by reporting sales of $1.523 billion and net income of $76 million, or $0.18 per diluted share, for the third quarter.
AMD (Sunnyvale, Calif.) was projected to earn $0.08 a share on sales of $1.38 billion for the period, according to analysts.
Third quarter sales were up 23 percent compared to the third quarter of 2004 and increased 21 percent from the second quarter of 2005.
In the third quarter of 2004, AMD reported sales of $1.239 billion and net income of $44 million, or $0.12 per diluted share. In the second quarter of 2005, AMD reported sales of $1.260 billion and net income of $11 million, or $0.03 per share.
"This was another record-breaking quarter for AMD's microprocessor business," said Robert J. Rivet, AMD's chief financial officer, in a statement.