revenue for the second quarter ended June 30, 2012 is expected to decrease approximately 11 percent sequentially. The company previously forecasted second quarter 2012 revenue to increase 3 percent, plus or minus 3 percent sequentially. The lower preliminary revenue results are primarily due to business conditions that materialized late in the second quarter, specifically softer-than-expected channel sales in China and Europe as well as a weaker consumer buying environment impacting the company's Original Equipment Manufacturer (OEM) business.

The company expects second quarter gross margin to be approximately in line with prior guidance. Operating expenses for the second quarter are expected to improve and to be approximately 8 percent less than prior guidance of approximately $605 million, a result of tightly controlled expenses in the quarter.
AMD will report second quarter 2012 results after market close on Thursday, July 19, 2012. AMD will hold a conference call for the financial community at 2:00 p.m. PT (5:00 p.m. ET) that day to discuss second quarter financial results and to provide information regarding expected third quarter results. AMD will provide a real-time audio broadcast of the teleconference on the Investor Relations page at http://www.amd.com. The webcast will be available for 10 days after the conference call.

The lower preliminary revenue results are primarily due to business conditions that materialized late in the second quarter

This is just a continuation of the fallout from BullShit, AMD literally can't even pay people to use it. perhaps they should sell their CPU division off to VIA while they still can.

i think that may be only part of the picture. AMD's GPU division is relatively small.

What happened in CPU to cause Bulldozer prices to also take a steep drop

(Ivy Bridge)

Could be but AMDs CPUs have been uncompetitive for a while now and intel hasn't even released all ivy bridge chips yet, I just can't imagine AMD could of misguided earnings from bulldozer that's been out for a while now that much in just three months time. Although maybe they figured they get some revenue from Trinity which has been MIA for the most part.

I really think AMD had no clue as to what nvidia had coming and when it was coming, and were completely blindsided thinking they were going to be selling there 28nm gpus at inflated prices for much longer. There was a lot of scrambling and uncertainty when Kepler launched just look at how long they took to adjust prices.

There are a lot of misconceptions about why Nvidia brought out a GK104 256-bit bus high end card built on GF104 to replace the 384-bit flagship card, the GTX 580, built on Fermi’s GF110 design. Last Autumn, it was not well known outside the industry, but well-known to AMD that Nvidia was complaining that TSMC simply could not build a 450nm “large die” on the 28nm process in time for them to compete with AMD’s upcoming Tahiti.

AMD expected that Nvidia would be very late as they were certain that the large die “Big Kepler” was impossible to produce until Q2 or Q3. What they did not realize was that Nvidia was also working on GK104 to replace the very popular GF104 that featured the highly efficient GTX 560 Ti. Evidently, Nvidia was originally planning to meet AMD with a “GTX 570 Ti” type card, so as to at least be close in performance to what they expected the HD 7970 to be. There was some quiet celebration at the end of last year that insiders noted as Nvidia apparently could not believe that AMD had brought out Tahiti under-performing compared to what they were expecting. Nvidia may have really thought at the time of launch that perhaps part of Tahiti was disabled in AMD’s rush to be first as “aggressor” and “predator” as their CEO had boasted not long before.

Well, Nvidia spent the next few weeks refocusing their efforts to make Kepler as cool and as efficient as possible while still beating the HD 7970′s performance. And because AMD was so certain that Nvidia would be many more months later with Kepler, they priced their 28nm cards at record highs for AMD pricing and they completely abandoned their “sweet spot” pricing in favor of “premium pricing.”

For example, AMD replaced the $379 HD 6970 with the $550 HD 7970 with barely a 33% performance increase – which was low enough for Nvidia to beat with their midrange-now-turned-flagship Kepler GK104 as the reincarnated GTX 680. Because Nvidia launched the GTX 680 at $500, undercutting AMD’s pricing by $50 and beating AMD’s performance across the board, AMD was forced to discount their reference cards to about $480 from $550.

It is obvious that AMD is still trying to hold on to the $500 pricing with overclocked HD 7970s by increasing the base clocks to about 1000MHz, something easily attainable to anyone with an original reference 925MHz card, but now with less power draw from a more mature process. This is the same strategy that AMD has employed with Cypress to meet the GTX 480 and with Cayman to meet the GTX 580. However, this time things are very different and their strategy is much more likely to fail.

TSMC simply could not build a 450nm “large die” on the 28nm process in time for them to compete with AMD’s upcoming Tahiti.