AMD (AMD) Q3 2026 Earnings
GAAP diluted EPS of $1.46 includes a $1,097 million charge for the change in fair value of the customer warrant liability ($0.66 per share), excluded from non-GAAP; non-GAAP also excludes $67 million net gains on long-term investments.
How Did AMD Stock React to Q3 2026 Earnings?
Did AMD Beat Earnings? Q3 2026 Results
Yes. AMD reported Q3 2026 earnings of $2.09 a share on Nov 3, 2026, beating the $1.94 consensus estimate by 7.9%. Revenue was $13.4B against a $13.1B estimate.
Advanced Micro Devices delivered a strong third quarter of 2026, posting adjusted EPS of $2.09 against a consensus estimate of $1.94, a beat of 7.92% that extended the company's streak of exceeding EPS expectations to four consecutive quarters. Revenue of $13.38 billion grew 44.7% year over year and topped the $13.08 billion consensus by 2.23%, with management noting results came in above the high end of its own guidance range. The primary engine was the Data Center segment, where the ramp of Instinct MI450 Series GPUs and continued strength in EPYC server processors nearly doubled segment revenue year over year while lifting segment operating margin to 34% from 25%. CFO Jean Hu noted that non-GAAP EPS growth of 74% outpaced revenue growth of 45%, reflecting meaningful operating leverage. With Nvidia reclaiming the top market-cap spot from Apple amid its own AI-driven momentum, the broader appetite for accelerated computing infrastructure remains a visible tailwind for AMD. Looking ahead, the company guided Q4 revenue to roughly $17.00 billion, implying approximately 66% year-over-year growth, as Helios rack-scale systems and Venice production scale further.
- Record Data Center revenue up 97% Y/Y on EPYC CPU demand and Instinct MI450 launch
- Data Center operating income rose to $2,882M from $1,074M; operating margin 34% vs 25%
- Client revenue up 7% on Ryzen mobile processor sales
- Embedded revenue up 29% on aerospace and defense, automotive, communications and industrial growth
- Non-GAAP gross margin up ~190 bps Y/Y on richer product mix
- Gaming revenue down 40% on lower semi-custom and graphics sales
“We delivered a record quarter with revenue exceeding the high end of our guidance as Data Center segment sales nearly doubled year-over-year.”
AMD CEO, on the earnings call
What Is AMD's Outlook?
For Q4 2026, AMD expects revenue of approximately $17 billion, plus or minus 3%. The midpoint represents year-over-year growth of approximately 66% and sequential growth of approximately 27%. Other non-GAAP guidance: - Gross margin of approximately 55%. - Operating expenses of approximately $3.75 billion. - Other income (expense) net of interest expense of approximately $4 million. - Effective tax rate of 13%. - Diluted share count of approximately 1.67 billion, including potential shares for the World Labs and Taalas acquisitions. Management expects revenue and earnings growth to accelerate in Q4 as Helios and 'Venice' production scales, and expressed confidence in sustaining very strong revenue growth and expanding profitability over the coming years.
AMD YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $13.4B | $9.2B | +44.7% |
| Gross Profit | $7.2B | $4.8B | +50.8% |
| Operating Income | $2.8B | $1.3B | +123.0% |
| Net Income | $2.4B | $1.2B | +95.3% |
AMD Revenue by Segment
When Does AMD Report Next?
Figures from SEC filings and company reports. Not investment advice.