AMD rides semi-custom business back to profitability, cites net income of $48 million in Q3 earnings

Source: http://www.engadget.com/2013/10/17/amd-rides-semi-custom-business-back-to-profitability/

We had our doubts when AMD promised to bounce back from its second quarter slump, but the company has held its word, reporting a net income $48 million in its Q3 financial reports. Why the jump? AMD cites growth in its Graphics and Visual Solutions (GVS) division, which is responsible for semi-custom products like the chips bound for the upcoming PlayStation 4, Xbox One and the floundering Wii U. "We achieved 26 percent sequential revenue growth driven by our semi-custom business and remain committed to generating approximately 50 percent of revenue from high-growth markets over the next two years," AMD President and CEO Rory Read stated in the earnings announcement.

Not every portion of AMD's business is flourishing, however -- both its Computing Solutions and GPU segments saw a drop in revenue over the past year, and the company admits that it's shipping fewer notebook chipsets these days. Even so, the numbers bode well for the company, which posted a total revenue of $1.46 billion for the quarter, alongside an optimistic outlook. After all, the company's Mantle graphics cards are just around the corner.

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Source: AMD