Chip maker AMD saw losses widen in the first calendar quarter as the PC market went through a painful sales drought.
A slump in demand for microprocessors saw quarterly sales sink by 21 per cent to reach $1.18bn, though this was still better than the previously projected result of $978 million.
AMD reported that it lost $416 million during the three months ended March 31st. The California-based company had dropped $364 million during the same period last year.
Though the firm had been stung by heavy losses, it had markedly outperformed previous projections, offering a sign that the PC slump may be in its final days. Last week, Intel CEO Paul Otellini claimed that PC sales had "bottomed out", and that the market will climb back up.
AMD, however, was not so optimistic. "I’ve heard some say we’ve hit bottom," said Dirk Meyer, company CEO. "I don’t know how someone could say we’ve hit bottom in the current economic climate."