Advanced Micro Devices posts biggest profits in 5 years

Advanced Micro Devices posts biggest profits in 5 years

AMD (Advanced Micro Devices) is continuing to gain on bigger market rivals Intel Corp as they have just posted their biggest profit figures in the last five years.

These results are for the first quarter of the current year as AMD posted net income of around $184.5 million, or 38 cents a share. This is impressive considering AMD posted losses of $17.4 million, or 4 cents in the same period last year.

AMD added that their sales gained 8.6 percent to $1.33 billion. Market analysts believe that these growing figures confirm that the company is now gaining mostly due to their quality products rather than budget offerings.

Chief Executive Officer Hector Ruiz said that they are aiming at achieving a market share of 20 to 30 percent in the next couple of years. AMD competes with Intel in the PC microprocessor market.