AMD: Q1 EPS Of $.09 and Revenue of $1.57 Billion Beats; Shares Still Falling

Advanced Micro Devices (AMD) was the second big tech report of the afternoon. The chip maker beat on both revenue and earnings, but, like Google (GOOG), its shares are falling in after hours trading, down 5%.

The company reported adjusted EPS of nine cents, with the Street expecting a loss of seven cents. Revenue of 1.57 billion, was up 34% from last year, and beat a consensus of $1.54 billion.

Shares are likely being dragged down by the terse outlook the company provided in its earnings release: “AMD expects revenue to be down seasonally for the second quarter of 2010.”