SAN FRANCISCO (Reuters) - Advanced Micro Devices Inc's quarterly results bettered Wall Street targets on Thursday, and its shares rose 33 cents in after hours trading as the smaller rival to Intel Corp prepared to become two companies.
Net loss for the third quarter ending September 27 was $67 million, or 11 cents per diluted share, compared with a loss of $396 million, or 71 cents per diluted share, in the same quarter a year earlier.
After excluding charges, the company made 13 cents a share, far better than the average analyst estimate of a loss of 39 cents a share, according to Reuters Estimates.
Net revenue rose to $1.78 billion, ahead of the average analysts' estimate of $1.48 billion, according to Reuters Estimates.
AMD stock is down about 50 percent since the start of the year, compared with a 43 percent loss by the Philadelphia Stock Exchange Semiconductor Index <.SOXX> during the same period.
(Reporting by David Lawsky; Editing by Andre Grenon)
