"Strong product offerings and solid operating performance resulted in record first quarter revenue,” said Dirk Meyer, AMD President and CEO. “We continue to strengthen our product offerings. We launched our latest generation of server platforms, expanded our family of DirectX 11-compatible graphics offerings, and commenced shipments of our next-generation notebook platforms to customers.”
AMD's net profit climbed to $257 million on a GAAP (generally accepted accounting principles) basis for the first quarter, which is a dramatic turnaround from the net loss of $416 million the company report in Q1 2009.
Coming as somewhat of a surprise, AMD's graphics segment revenue decreased 3 percent sequentially for the quarter, though it did increase 88 percent year-over-year. AMD said the sequential decrease was primarily the result of seasonal decline in royalties received in connection with the sale of game consoles, while the year-over-year increase was driving by an increase in GPU shipments.