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AMD Beats Street, Touts Higher Average Selling Prices

AMD easily exceeded Wall Street expectations for its first quarter earnings as company executives touted continued strong sales in server and mobile CPUs.

AMD reported earnings for the period ended March 26 of $184.5 million, or 38 cents a share, compared to a loss of $17.4 million, or 4 cents a share, in the same period last year. AMD's loss last year was largely blamed on trouble in Spansion, its flash memory business. The company spun off Spansion in December.

Analysts had expected earnings of 29 cents per share, according to Thomson/First Call.

Revenue in the first quarter was $1.33 billion, up from $780 million in the first quarter of 2005. The 2005 numbers exclude some $450 million in revenue from the Spansion flash business. With the Spansion number included first quarter 2005 revenue would have been $1.23 billion, slightly lower than the current quarter.

AMD executives said they expected second-quarter, a seasonally slower quarter, to be flat or slightly down from the first quarter but up about 65 percent from the prior year.

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