Updated at 3:20 p.m. PDT throughout.
Advanced Micro Devices on Tuesday reported a net first-quarter loss of $416 million, or 66 cents a share, though revenue exceeded estimates.
AMD also refuted Intel statements that PC sales have hit bottom, though the company said inventory problems are improving somewhat.
This loss exceeds the loss reported one year ago, when the chipmaker posted a loss of $364 million, or 60 cents a share.
Revenue hit $1.18 billion, down 21 percent from the $1.5 billion posted last year, but better than reported estimates from analysts who had expected revenue … Read more