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SAN JOSE, Calif. (AP) - Shares of Advanced Micro Devices Inc. rose Thursday after the company said its second-quarter profit fell 65 percent but beat Wall Street expectations as the chipmaker reported record microprocessor sales and a drop in flash memory chip revenue.
Shares of AMD, which reported its second-quarter results after financial markets closed Wednesday, rose 63 cents, or 3.3 percent, to close at $19.88 Thursday on the New York Stock Exchange.
AMD said processor sales grew 38 percent over the same period last year, while revenue at its division that makes flash memory for cellular phones and other devices slumped 31 percent. AMD plans to spin off the flash memory business in an upcoming public offering.
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