Companies /Technology

Advanced Micro Devices Inc

NASDAQ: AMD Semiconductors
$477.57
▲ $21.41 (+4.69%) today
Markets closed · 8:28pm ET

Q3 2025 Earnings

Reported Nov 4, 2025, 4:16pm ET · SEC source
$1.20
Beat +2.37%
EPS · est. $1.17
$9.2B
Beat +5.66%
Revenue · est. $8.8B
−14.6%
Trailing market
AMD vs S&P since report
4 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−6%−3%0+3%Nov 4Nov 5report 4:16pm ETearnings+0.3%+2.1%
−6%−3%0+3%Nov 4Nov 5earnings+0.3%+2.1%
AMD +2.1%S&P 500 +0.3%
−6%−3%0+3%Nov 4Nov 5report 4:16pm ETearnings+0.6%+2.1%
−6%−3%0+3%Nov 4Nov 5earnings+0.6%+2.1%
AMD +2.1%NASDAQ +0.6%
−5%0+5%Nov 3Nov 12report 4:16pm ETearnings+1.1%+5.2%
−5%0+5%Nov 3Nov 12earnings+1.1%+5.2%
AMD +5.2%S&P 500 +1.1%
−5%0+5%Nov 3Nov 12report 4:16pm ETearnings+0.3%+5.2%
−5%0+5%Nov 3Nov 12earnings+0.3%+5.2%
AMD +5.2%NASDAQ +0.3%
+2.51%
Day of report
−7.27%
Next session
+1.00%
One week
−13.74%
30 days

S&P 500 over the same 30 days: +0.89%.

Did AMD Beat Earnings? Q3 2025 Results

Advanced Micro Devices delivered a strong third quarter, posting revenue of $9.25 billion, up 35.6% year-over-year and well ahead of the $8.75 billion consensus estimate, while non-GAAP diluted EPS of $1.20 beat the $1.17 consensus by 2.37%, underscoring broad demand momentum across its portfolio. The primary engine behind the beat was the Client and Gaming segment, which generated $4.05 billion in revenue, up 73% year-over-year, with Gaming revenue alone climbing 181% on stronger semi-custom and Radeon demand, while the Data Center segment contributed $4.34 billion as EPYC server processors and Instinct GPU shipments gained traction, even as U.S. export controls on MI308 products to China continued to constrain that revenue stream. AMD also secured a landmark partnership with OpenAI, which selected the company as a core preferred partner to deploy 6 gigawatts of AMD GPUs for next-generation AI infrastructure. Looking ahead, AMD guided Q4 2025 revenue to approximately $9.60 billion, representing roughly 25% year-over-year growth, with non-GAAP gross margin expected near 54.5%.

Key Takeaways
  • Strong demand for 5th Gen EPYC processors in data center
  • AMD Instinct MI350 Series GPU demand driving data center revenue
  • Record Ryzen processor sales driving client revenue up 46% year-over-year
  • Semi-custom revenue surge driving gaming revenue up 181% year-over-year
  • Strong demand for Radeon gaming GPUs
  • Richer product mix in client segment

“We delivered an outstanding quarter, with record revenue and profitability reflecting broad based demand for our high-performance EPYC and Ryzen processors and Instinct AI accelerators.”

AMD CEO, on the earnings call

Forward Guidance & Outlook

For Q4 2025, AMD expects revenue of approximately $9.6 billion, plus or minus $300 million, representing approximately 25% year-over-year growth and approximately 4% sequential growth. Non-GAAP gross margin is expected to be approximately 54.5%. Non-GAAP operating expenses are expected to be approximately $2.8 billion. Interest expense/other income (expense), net is expected to be approximately $37 million. Non-GAAP effective tax rate is expected to be approximately 13%. Diluted share count is estimated at approximately 1.65 billion shares. The outlook does not include any revenue from AMD Instinct MI308 shipments to China.

AMD YoY Financials

Q3 2025 vs Q3 2024 · SEC filings Q3 2024 Q3 2025
$0$3.0B$6.0B$9.0B$6.8B$9.2BRevenue$3.4B$4.8BGross Profit$724.0M$1.3BOperating Income$771.0M$1.2BNet Income
$0$3.0B$6.0B$9.0BRevenueGross ProfitOperating IncomeNet Income

AMD Revenue by Segment

Data Center$4.3B+22.0%
Client$2.8B+46.0%
Gaming$1.3B+181.0%
Embedded$857.0M−8.0%

Figures from SEC filings and company reports. Not investment advice.