AMD misses; shares sink
The chipmaker says sales rose 53 percent but came in below expectations; stock falls after hours.

By Jessica Seid, CNNMoney.com staff writer
July 20 2006: 4:29 PM EDT


NEW YORK (CNNMoney.com) -- Advanced Micro Devices reported Thursday sales jumped 53 percent in the latest quarter but fell short of Wall Street's expectations.

Shares of AMD (Charts) fell in after-hours trading.

 
The No. 2 chipmaker behind Intel reported earnings of 18 cents a share for its fiscal second quarter ended July 2, up from three cents a year earlier. Analysts had been looking for profits of 22 cents a share, according to a survey by Thomson First Call.

Sales slipped to $1.22 billion from $1.26 billion a year ago, below forecasts of $1.25 billion.