Renowned chip maker Advanced Micro Devices, Inc.’s (AMD) bottom line declined significantly in its last reported quarter. Its operating income declined 36.7% year-over-year to $526 million. Its net income and EPS came in at $447 million and $0.27, down 37% and 53.4% year-over-year, respectively.
Moreover, on October 6, the chip maker slashed its revenue guidance for the third quarter, citing weakening demand for personal computers that equip its chips. “The PC market weakened significantly in the quarter. While our product portfolio remains very strong, macroeconomic conditions drove lower-than-expected PC demand and a significant inventory correction across the PC supply chain,” said AMD Chief Executive Lisa Su.
