AMD posts seventh straight quarterly net loss

NEW YORK (Reuters) - Advanced Micro Devices Inc (AMD.N: ) posted its seventh consecutive quarterly loss on Thursday as the chipmaker struggles to regain its competitive footing against larger rival Intel Corp (INTC.O: AMD said its second-quarter net loss was $1.19 billion, or $1.96 per share, compared with a year-ago net loss of $600 million, or $1.09. Revenue rose to $1.35 billion from $1.31 billion a year ago. On an operating basis it said it posted a loss of 44 cents a share, including an unusual gain of 16 cents a share and a loss of $1.44 per share in impairment charges. The company said that, while it was disappointed with its financial results, it remained committed to posting an operating profit in the second half of the year based on new products and continued action aimed at reducing its break-even point. AMD... [read full story]