AMD taking a $948 million charge in Q2

One week before announcing its results for the second quarter of this year, Advanced Micro Devices aka AMD has revealed that it is taking a massive $948 million charge for the three month period with most of the sum, $880 million, being a write down of the goodwill value of its 2006 $5.4 billion purchase, ATi Technologies. This is the second time AMD cut down on the intangible value of ATi, with the first round being of $1,608 billion and affecting AMD's Q4 2007 results.

The Q2 charges also include $32 million in restructuring costs and $24 million in relation to Spansion stock. AMD has previously stated that it will turn to profit this year.