AMD reported its quarterly earnings on Thursday and despite the fact that the chipmaker failed to turn a profit, the results are better than expected.

The company posted a net loss of $590 million, largely attributed to one-time charges. Sans a $703 million charge resulting from the Globalfoundries spin off, AMD’s income hit $92 million.

Total revenue was $1.59 billion, slightly higher than the $1.56 forecast, but still two percent short of last year’s $1.61 billion.

AMD is upbeat about its prospects in Q2. The company expects a 6 percent revenue increase in the traditionally slow quarter, beating analysts’ expectations once again.