AMD 2Q net tops Street, shares rise

    SAN FRANCISCO (AP) ? Advanced Micro Devices is reporting second-quarter earnings that exceed analyst expectations.

    The numbers Thursday underscore progress that the No. 2 maker of computer microprocessors is making with a chip that combines general-purpose and graphics computing abilities.

    Advanced Micro Devices Inc. earned $61 million, or 8 cents per share, compared with a loss of $43 million, or 6 cents per share, a year ago. Adjusted net income was 9 cents per share, a penny better than the average estimate of analysts polled by FactSet.

    Revenue in the quarter, which ended July 2, was $1.57 billion. That’s in line with analysts’ expectation of $1.58 billion.

    AMD’s stock rose 23 cents, or 3.5 percent, to $6.52 in extended trading.