Chip maker Advanced Micro Devices, Inc. (AMD) opened lower today, as of 11:43 am, AMD stock price has plunged 11.11%, to report at $4.32, on volume of 38.41 million shares.
The company released its Q2 2012 financial results on Thursday. Quarterly revenue was $1.413 billion, lower than $1.574 billion a year earlier; net profit was $37 million, down 39% from $61 million in the same period last year. Excluding some one-time items, adjusted net profit was $46 million; adjusted earnings per share was 6 cents, still falling short of the analyst estimate of 7 cents.
Over the past 52 weeks, AMD stock price fluctuated between $4.31 and $8.35, the current stock price is 48.26% off the high.