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AMD tumbles further, ended 2012 with net loss of $1.18 billion
On the same day AMD announced it snagged two new executives, it also announced its fourth-quarter earnings. And as anyone who’s followed the company in recent months has come to expect—the report hasn't been pretty.
The company said Tuesday its annual revenue came in at $5.4 billion, down 17 percent when compared to 2011. AMD ended 2012 with a net loss of $1.18 billion.
As Ars writer Andrew Cunningham noted earlier, demand for AMD CPUs is down and analysts think its stock is "un-investable." Not to mention, the company has long been playing catch-up with Intel with respect to laptop and desktop CPU performance and power consumption. Earlier this month, Standard & Poor’s downgraded AMD's corporate rating to a B, saying that it was “vulnerable.”