AMD (AMD) Q3 2025 Earnings
How Did AMD Stock React to Q3 2025 Earnings?
S&P 500 over the same 30 days: +0.89%.
Did AMD Beat Earnings? Q3 2025 Results
Yes. AMD reported Q3 2025 earnings of $1.20 a share on Nov 4, 2025, beating the $1.17 consensus estimate by 2.4%. Revenue was $9.2B against a $8.8B estimate.
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%.
- 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
What Was AMD's Outlook in Q3 2025?
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
| Metric | Q3 2025 | Q3 2024 | Year over year |
|---|---|---|---|
| Revenue | $9.2B | $6.8B | +35.6% |
| Gross Profit | $4.8B | $3.4B | +39.8% |
| Operating Income | $1.3B | $724.0M | +75.4% |
| Net Income | $1.2B | $771.0M | +61.2% |
AMD Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.