AMD Falls After Reporting Unexpected Quarterly Sales Drop
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Advanced Micro Devices Inc., the second-biggest maker of processors for personal computers, fell the most in almost 10 months after reporting an unexpected drop in second-quarter sales, citing weakness in China and Europe.
Sales fell 11 percent in the period that ended in June from the prior quarter, indicating revenue of $1.41 billion, compared with an average analyst estimate of $1.63 billion, according to a Bloomberg survey. AMD had previously forecast sales would rise 3 percent, plus or minus 3 percent.