As of about 10:50 AM IST (05:20 GMT), Wednesday 4 November 2026. Figures are attributed to the sources that published them; anything not independently confirmed is flagged.
AMD reported record third-quarter revenue on Tuesday 3 November as sales of its data-centre chips nearly doubled, and forecast a much bigger fourth quarter. Its shares rose about 7% to 9% in after-hours trading, according to CNBC and Investing.com.
The numbers
| Measure | Q3 2026 | Q3 2025 | Change |
|---|---|---|---|
| Revenue | $13.38 billion | $9.25 billion | +45% |
| Data Center revenue | $8.55 billion | $4.34 billion | +97% |
| Client revenue | $2.95 billion | $2.75 billion | +7% |
| Gaming revenue | $773 million | $1.30 billion | -40% |
| Embedded revenue | $1.11 billion | $857 million | +29% |
| Non-GAAP gross margin | 56% | 54% | +2 pts |
| Non-GAAP EPS | $2.09 | $1.20 | +74% |
| GAAP EPS | $1.46 | $0.75 | +95% |
Source: AMD's earnings release. Adjusted earnings of $2.09 a share beat the $1.95 analysts expected, according to LSEG data cited by CNBC. Revenue also beat the roughly $13.06 billion consensus cited by Investing.com.
What drove it
- AI GPUs and server CPUs: AMD said Data Center revenue was driven by strong demand for EPYC processors and the launch of its Instinct MI450 Series GPUs.
- Helios racks: AMD said Anthropic, Meta, Microsoft, OpenAI and Oracle Cloud Infrastructure are running models and workloads on its first Helios rack-scale systems, which use MI450 GPUs and 6th Gen EPYC CPUs.
- Gaming fell 40% on lower semi-custom (console) and graphics sales, while PC processors grew on Ryzen mobile chips.
"Demand for our Instinct and EPYC products continued to strengthen, and we expect growth to accelerate further in the fourth quarter as we scale Helios and 'Venice' production," Chair and CEO Lisa Su said in the release.
The fourth-quarter forecast
AMD expects Q4 revenue of about $17 billion, plus or minus 3%, which it said would be roughly 66% growth from a year earlier and 27% from the third quarter. It expects a non-GAAP gross margin of about 55%, slightly below Q3's 56%. Investing.com put the consensus forecast at about $16.23 billion.
Points to note
- Free cash flow fell to $554 million from $1.53 billion a year earlier, as inventories rose by about $3 billion in the quarter, according to the company's cash-flow statement.
- GAAP results included a $1.1 billion charge from a change in the fair value of warrants issued to certain customers. AMD excludes this from its adjusted figures.
- AMD also announced agreements to acquire World Labs and Taalas, and listed memory supply among the risks in its cautionary statement.
Context
The results came as chip stocks swung sharply on worries about AI spending. On Wednesday, Asian chipmakers including Kioxia, Advantest and SK hynix fell heavily, AFP reported. Super Micro Computer and Arista Networks also posted strong results after hours on Tuesday, according to CNBC.
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