AMD tops estimates with $1.3 billion revenue

Despite a 5.4 percent slip in third quarter operating margins (AMD attributes the decline to lower average selling prices for processors used in desktop computers), AMD beat analyst estimates for financial performance. AMD reported a net income of $134 million, or $0.27 cents a share on revenue of $1.33 billion, as it continues to pressure number-one chipmaker Intel Corp. "When memory products sales are excluded, AMD's sales grew 9 percent from the previous quarter and 32 percent from last year's third quarter, Robert Rivet, AMD's chief financial officer. AMD has been taking semiconductor market share away from rival Intel in the last year with new dual-core processors, forcing Intel into a defensive posture."