Shares of Advanced Micro Devices, Inc. rose more than 11 percent on Friday after the chip maker reported quarterly earnings which exceeded expectations.

The Sunnyvale, California-based company posted its fifth consecutive quarterly loss on Thursday but would have beat analyst estimates if not for a noncash charge of $1.61 billion related to its $5.6 billion purchase of graphics chip maker ATI technologies.

AMD reported a net loss of $1.77 billion for its fourth quarter, or $3.06 per share on $1.77 billion in sales.

Excluding the one-time charge, AMD lost 17 cents per share, beating estimates of a 36 per share loss, according to analysts polled by Thomson Financial.

AMD shares closed up 73 cents, or 11.5 percent to $7.07.