AMD Sales to Miss Forecast

Advanced Micro Devices Inc. said Monday that fourth-quarter revenue would miss analysts’ forecasts, citing a competitive and challenging memory-chip market.

Shares of AMD, which competes with far larger Intel Corp. in the market for microprocessors and flash memory chips, fell $1.58 in after-hours trading to $18.55.

Sunnyvale, Calif.-based AMD said it expected that revenue would be “up slightly” from $1.24 billion in the third quarter and that operating profit would be “down significantly” from third-quarter operating profit of $68.4 million.

The company did not provide a forecast for per-share profit.

Analysts were expecting AMD to report per-share earnings of 19 cents, on average, before items, on revenue of $1.35 billion, according to Reuters Estimates.

In regular trading, shares of AMD rose 21 cents to $20.13 on the New York Stock Exchange.