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AMD expects an 11 percent drop in revenue for Q2 2012

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Though the full Q2 results aren't due until later this month, AMD is predicting an 11 percent decrease in revenue for the quarter.

AMD logo stock
AMD logo stock

AMD has announced its preliminary results for the second quarter of the year, and things aren't looking good, with revenue expected to drop by approximately 11 percent sequentially. The news comes after AMD reported a $590 million net loss in the first quarter of the year, at which point it forecasted an increase of three percent sequentially for Q2, "plus or minus three percent." The company cites both "softer-than-expected" sales in China and Europe as well as a "weaker consumer buying environment" as reasons for the drop. According to a Bloomberg survey, the 11 percent decrease would amount to approximately $1.41 billion in revenue, which would be a drop from last quarter's $1.59 billion. AMD will be reporting its full second quarter results later this month on July 19th.