Advanced Micro Devices said its financial performance for the third quarter beat Wall Street s expectations for the maker of PC and server processors.AMD reported revenue of $1.3 billion on a non-GAAP basis in the third quarter ended September 30, compared with $1.06 billion a year earlier.
Net profit on a non-GAAP basis was 3 cents a share, compared with a loss of 17 cents a share a year ago.
Analysts had expected a non-GAAP loss of 1 cent a share on revenue of $1.21 billion.
Our third quarter financial results highlight the progress we are making across our business, said Lisa Su, AMD president and CEO, in a statement.
We now expect to deliver higher 2016 annual revenue based on stronger demand for AMD semi-custom solutions and Polaris graphics processing units GPUs .
AMD s console chip business reported as semi-custom chips has gotten a refresh this fall with sales of the Xbox One S slimmer console.