Bleeding hasn’t stopped at AMD
Advanced Micro Devices — the one and only current customer for GlobalFoundries — released their second quarter earnings report yesterday.
The results: not great.
Revenue during the second quarter, the company said, fell 13 percent compared to the same time period a year ago. Overall losses totaled some $330 million.
The financial outlook caused at least one analyst to recommend investors sell any shares they have in the company. A lot of people took have apparently already taken his advice.
The news is particularly bittersweet because Intel — AMD’s chief rival and the number one chipmaker in the world — posted some unexpectedly positive results earlier this month. Their numbers would have been even stronger had AMD not prevailed in a recent anti-trust lawsuit, which resulted in a fine of more than $1 billion.
Still, GlobalFoundries officials insist their success transcends the finances of AMD. Executives said yesterday that the company is “close” to naming a second customer, a move that would help distance it from the chipmaker from which they originated.
GlobalFoundries officials are hosting a ground-breaking ceremony for their factory at the Luther Forest Technology Campus in Malta on Friday.
– Drew Kerr
