CHIP DESIGNER AMD revealed that it is making money again on Thursday, thanks to the PS4 and Xbox One consoles.
In July AMD posted a loss of $29m for the second quarter, but promised investors that it would return to profitability later in the year thanks to the PS4 and Xbox One games consoles, both of which use AMD chips.
The firm has stuck to its word, as on Thursday AMD reported that it raked in $48m in profits for the third quarter on improved revenues of $1.46bn.
AMD CEO and president Rory Read said, "We achieved 26 percent sequential revenue growth driven by our semi-custom business and remain committed to generating approximately 50 percent of revenue from high-growth markets over the next two years."
"Developing industry-leading technology remains at our core, and we are in the middle of a multi-year journey to redefine AMD as a leader across a more diverse set of growth markets."
While AMD's Graphics and Visual Solutions (GVS) division, the part of the business reponsible for the semi-custom chips found in the Xbox and PS4, saw its sales rise, the firm's Computing Solutions and GPU segments posted declines in revenue. The firm admitted that this is because it's shifting fewer netbook chips than before, and said that, perhaps unsurprisingly, demand for PC chips is also decreasing.
While it seems that AMD is back in the game, the firm warned that its bumper revenues from games consoles will decrease over the long term.
The firm is projecting five percent growth for the fourth quarter. µ
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