Advanced Micro Devices announced lower than expected second quarter sales results, for two thousand fifteen. This company now expects an eight percent degree in revenue than previously predicted. Previously, they were estimating around a three percent decrease in revenues.
This decrease is due to weaker consumer personal computer demand. This information is from second quarter results through June 27, 2015. Their cash and equivalents are supposed to become around eight hundred and thirty million dollars as expected by this company.
Advanced Micro Devices will officially report their second quarter results of two thousand and fifteen on July 16, 2015. Also, they will discuss expected third quarter of two thousand fifteen results at that same press conference. This decrease in revenues is attributable to lower than expected Original Equipment Manufacture personal computer sales demand.
These results reported are not official results and updated from prior expectations. Advanced Micro Devices stock price declined 13.8 percent after this information was released. Their stock price dropped from $2.46 to $2.13 amidst this news.
You can read the AMD second quarter outlook update, official press release.