|The Sunnyvale, Calif., company, the second largest maker of computer microprocessors behind Intel, posted a net loss of $1.77 billion, roughly equal to its revenue for the quarter. The loss amounted to $3.06 a share. It includes a noncash charge of $1.61 billion, or $2.89 a share, for the fourth quarter.
Without the charge, however, A.M.D. soundly beat Wall Street’s expectations for the quarter, posting a loss of $97 million and 17 cents a share, compared with a loss of $576 million, or $1.08 a share in the same period a year ago.
|Investors cheered the results, which were announced after the end of regular trading. Shares of A.M.D. rose 35 cents, or 6.52 percent, to $6.69 in after-hours trading, after declining 23 cents, or 3.5 percent, to $6.34 in the regular session.
The market’s reaction to A.M.D’s report was in stark contrast to the sell-off that had accompanied Intel’s report on Tuesday. It reported record fourth-quarter revenue but issued a disappointing outlook for the first quarter, fueling Wall Street’s fears of a slowdown in spending on computers.