AMD reported third-quarter 2022 results showing net income falling 93 percent to $66 million and a year-over-year operating loss of $64 million.
The company said it would take cost-cutting measures, including controlling headcount growth.
AMD’s executive vice president, chief financial officer and treasurer Devinder Kumar said: “We will prioritise the key investments for product roadmaps and long-term growth while taking several near-term cost management actions, including prudently controlling operating expenses and headcount growth, while actively managing inventory in line with our revenue expectations.”