AMD shrinks 2Q loss as chip sales rebound; loss on factory investment drags down numbers

AMD shrinks 2Q loss as chip sales rebound

SAN FRANCISCO — Advanced Micro Devices Inc. shrank its second-quarter loss on reviving sales of computers that use its chips and a wrenching years-long effort to shed costs.

AMD would have made money were it not for a loss related to its investment in factories it used to own but were spun off into a separate company a year ago.

AMD’s net loss was $43 million, or 6 cents per share, in the quarter ended June 26. Excluding items, AMD would have earned 11 cents per share. On that basis, analysts expected profit of 6 cents per share.