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SAN JOSE — Advanced Micro Devices Inc. on Wednesday posted a third-quarter loss of $186.9 million as the chip maker suffered the effects of a price war with rival Intel Corp. 

For the three months ended Sept. 30, the company lost 54 cents a share, compared with a profit of $17.4 million, or 5 cents per share in the same period a year ago. 

Excluding one-time charges, the company lost $97 million, or 28 cents per share, compared with net earnings of $219 million, or 70 cents per share, a year ago. 

Analysts were expected a loss of 28 cents per share, according to a survey by Thomson Financial/First Call. 

Revenues fell 22 percent, to $765.9 million. Last year, AMD reported sales of $985.3 million. Analysts were expecting revenue of $779 million. 

Earlier this month, the Sunnyvale, Calif.-based company warned losses would be between $90 million and $110 million, or 26 cents to 31 cents per share.  

Prior to the warning, analysts were expecting a loss of 12 cents per share, excluding one-time charges. 

AMD says sales of its microprocessors are increasing, but its results are diminished by lower selling prices as it matches Intel’s price cuts on Pentium 4 processors. 

“AMD held market share in the 22 percent range in a very weak PC market made more difficult by our principal competitor’s efforts to halt our forward momentum,” said W. J. Sanders III, AMD’s chief executive. 

Sanders claims Intel resorted to the price cuts to make up for performance deficiencies of its processors. Intel says it’s passing on savings from more its more efficient production. 

Shares of AMD closed down 90 cents to $9.71 in Wednesday trading on the Nasdaq Stock Market before the earnings release. In after-hours trading, shares lost 6 cents. 

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On the Net: 

AMD: http://www.amd.com