Earlier this week Intel reported better than expected numbers and said it was confident about the future ahead, which seems to be the theme for the quarter. No. 2 chip maker AMD said today that it lost money in the third quarter -- $128 million to be exact , or 18 cents per share -- which is less than the $134 million the company lost one year ago.
AMD's revenue took a backward slide to the tune of 22 percent, settling in at $1.4 billion. The silver lining is that analysts had expected AMD's loss to be in the neighborhood of 30 percent, so by that token, AMD is actually doing pretty well when graded on a curve.
Like every other company in the tech industry, AMD took a hit to its bottom line because of weak computer sales in the first half of the year. However, the chip maker's shipments actually rose from the previous quarter, driven in large part by strong demand for mobile processors.
It's been 8 months since AMD finalized its manufacturing spinoff deal, but a weak economy and slumping tech sector have made it difficult to discern what effect the deal has had on AMD's numbers.