SAN FRANCISCO—Advanced Micro Devices Inc. (AMD) Monday (July 9) cut its estimate for second quarter sales, citing lower than expected sales in China and Europe and weaker consumer market for PCs.
AMD (Sunnyvale, Calif.) said it now expects second quarter sales to be about $1.42 billion, down 11 percent from the first quarter. The company previously said it expected sales to be between $1.59 billion and $1.69 billion, flat to up 6 percent compared with the first quarter.
AMD said it expects second quarter gross margin to be approximately in line with prior guidance. Operating expenses for the second quarter are expected to improve and to be approximately 8 percent less than prior guidance of approximately $605 million, due to tightly controlled expenses, AMD said.