AMD results beat expectations in declining PC market

By Noel Randewich (Reuters) - Advanced Micro Devices Inc forecast current-quarter revenue above Wall Street's expectations as it rushes to find new markets to offset its declining core business of PC chips. Like larger rival Intel Corp, AMD is trying to refocus its business as sales of laptops languish and consumers increasingly depend on smartphones and tablets. It shares fell nearly 6 percent after the report, erasing sudden gains in the last few minutes of the trading session. AMD on Thursday reported revenue of $1.09 billion, down from $1.59 billion in the year-ago quarter. ...

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