AMD posted revenues of US$1.51 billion for its first quarter, compared to US$1.23 billion a year ago and US$1.77 billion for the fourth quarter of 2007.
The poor results came as no shock to industry analysts, who were warned last week that AMD would miss earnings expectations by about $100m.
AMD chief executive Hector Ruiz said that the chip firm is addressing its loss making situation with additional restructuring. The company recently announced job cuts of 16,800, around 10 percent of its global workforce.
"We will also have an opportunity to further restructure the company for increased focus and added flexibility, which places us in a better position to deliver sustainable, profitable growth," said Ruiz in a conference call on Thursday.
AMD will also be hoping that the late arrival of its much anticipated quad-core Opteron processor line will help it bounce back in the second half of 2008, after a design flaw delayed its release last year.
The chipmaker is now shipping Opteron processors in volume. HP and Dell are offering systems based on the new chip.
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