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AMD has released its fourth-quarter earning report, which revealed that the firm ended 2012 with revenue down 17 per cent on the previous year.
The firm announced that it ended the year with its annual revenue at $5.4 billion, down 17 per cent on 2011, and a net loss of $1.18 billion.
It sums up a disappointing year for the chip manufacturer, which revealed back in December that it would reduce its chip orders for the remaining three months of the firm’s fiscal year by over 75 per cent.
Within its 8-K filing with the Securities and Exchange Commission, AMD said: “2012 was a year in which AMD made some key strategic investments designed to position the company for success in a changing computing landscape by investing in innovative technology and our ambidextrous strategy."
"In addition to our low-power APUs, graphics IP, and reusable design blocks, we believe AMD is well positioned to pursue fast-growing markets including embedded/semi-custom, low-power form factors, and cloud computing.”
As a result of the decline, the firm is expected to further reduce its workforce, whilst offering up a warning that it expects Q1 2013 figures to falter too.
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