AMD's Q1 2015 financial results are out now and they are full of negative number and red markers.
Continuing to lose market share to its rivals, the Canadian chip maker has made $180 million net loss in the first 3 months of 2015. Moreover, AMD has made just $1.03 billion in revenues during the same period, which represents a 26% decline over the same quarter last year.
On the other hand, the $180 million net loss is significantly better than last year's Q1 loss of $364 million.
Unfortunately, this loss reduction is the result of a massive layoff which saw 700 employees leaving the company in August 2014.
A large chunk of the loss came from the graphics cards department which made 38 per cent less revenue year-on-year due to "challenging conditions" in the PC market. Apparently, "challenging conditions" is AMD speak for having its lunch eaten by NVIDIA which has been posting record revenues since the release of its GeForce 9xx family in Q3 2014. Nearly a year ago, NVIDIA owned 65% of the PC graphics cards market, with the remaining 35% being split between AMD and Intel among others. NVIDIA's market share is now around 76% according to independent market research.
