Chipmaker AMD's revenue sinks on weaker China, Europe

Chipmaker Advanced Micro Devices (AMD-N) posted second-quarter revenue of $1.41 billion US and a net profit of $37 million US, or 5 cents a share, as it struggles with a weak global economy and tepid PC sales.

AMD warned last week that its second-quarter revenue could be down 11 percent from the first quarter. On Thursday, it estimated revenue in the current third quarter would fall 1 percent from the second quarter, plus or minus 3 percent.

Analysts had forecast that AMD would see $1.50 billion in revenue for the current quarter, according to Thomson Reuters I/B/E/S.