AMD Forecast Misses Estimates; to Cut 15 Percent of Staff
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Advanced Micro Devices Inc., the second-largest maker of processors for personal computers, forecast fourth-quarter sales that will miss analysts’ estimates and said it will cut 15 percent of its staff.
Revenue will fall 9 percent, plus or minus 4 percent, in the current quarter from the prior period, the company said today in a statement. That indicates sales as low as $1.1 billion, compared with an average analyst estimate of $1.31 billion, according to data compiled by Bloomberg.