AMD posts first profit in three years

AMD intends to gain more traction in the laptop market this year

AMD has announced strong fourth-quarter results, with revenues up 18 per cent on the previous quarter, and up 42 per cent on the same period last year. The company reported a profit of $1.17bn (£724m).

The figures represent AMD's first profit in over three years, helped by a $1.25bn (£755m) payout from Intel to settle ongoing legal battles.

"AMD's quarter marks another milestone in our transformation, and underscores our growing momentum," said AMD president Dirk Meyer.

"We enter 2010 having completed the transition to a fabless business model, reached a historic anti-trust settlement, and made significant progress strengthening our balance sheet.

"Our innovative strategy for designing the world's most vivid digital experiences continues to generate demand."

Meyer said that AMD will move more heavily into the laptop market in the coming year, where it is underrepresented, and touted a new deal with Lenovo to use AMD chips on some of its platforms.

Graphics are also doing well, according to Meyer, showing a 40 per cent annual rise in revenues, compared to 14 per cent for microprocessors.