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Loss at Chipmaker AMD Smaller Than Expected; Shares Rise

Chip company Advanced Micro Devices, which supplies processors for PCs and gaming consoles, surprised investors with a smaller-than-expected first-quarter loss, prompting its shares to spike by more than six percent. AMD’s net loss was three cents a share, better than the 19-cent loss reported a year ago. Revenue of $1.4 billion was $100 million better than analysts expected. AMD shares rose 22 cents to $3.91 after hours.

This article originally appeared on Recode.net.

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