Companies /Technology

Advanced Micro Devices Inc

NASDAQ: AMD Semiconductors
$477.57
▲ $21.41 (+4.69%) today
Markets closed · 9:46pm ET

Q4 2025 Earnings

Reported Feb 3, 2026, 4:16pm ET · SEC source
$1.53
Beat +15.98%
EPS · est. $1.32
$10.3B
Beat +6.20%
Revenue · est. $9.7B
+2.4%
Beating market
AMD vs S&P since report
4 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−12%−6%0+6%Feb 3Feb 4report 4:16pm ETearnings−0.1%−10.9%
−12%−6%0+6%Feb 3Feb 4earnings−0.1%−10.9%
AMD −10.9%S&P 500 −0.1%
−12%−6%0+6%Feb 3Feb 4report 4:16pm ETearnings−1.1%−10.9%
−12%−6%0+6%Feb 3Feb 4earnings−1.1%−10.9%
AMD −10.9%NASDAQ −1.1%
−18%−9%0+9%Feb 2Feb 11report 4:16pm ETearnings+0.5%−6.7%
−18%−9%0+9%Feb 2Feb 11earnings+0.5%−6.7%
AMD −6.7%S&P 500 +0.5%
−18%−9%0+9%Feb 2Feb 11report 4:16pm ETearnings−0.4%−6.7%
−18%−9%0+9%Feb 2Feb 11earnings−0.4%−6.7%
AMD −6.7%NASDAQ −0.4%
−17.31%
Day of report
−3.84%
Next session
+6.69%
One week
+1.24%
30 days

S&P 500 over the same 30 days: −1.15%.

Did AMD Beat Earnings? Q4 2025 Results

Advanced Micro Devices closed out fiscal 2025 with a standout fourth quarter, posting revenue of $10.27 billion, up 34.1% year over year, and non-GAAP diluted EPS of $1.53, which cleared the $1.32 consensus estimate by nearly 16% and topped the $9.67 billion revenue forecast by 6.20%. The primary engine behind the quarter was the Data Center segment, which generated $5.38 billion, up 39% year over year, fueled by strong EPYC processor demand and continued ramp of Instinct GPUs. A notable tailwind came from approximately $390 million in MI308 GPU sales into China, alongside a $360 million release of previously reserved inventory charges tied to U.S. export restrictions, effects that lifted reported non-GAAP gross margin to 57% versus an underlying 55%. For the full year, AMD reported revenue of $34.64 billion and free cash flow of $5.52 billion, more than doubling the prior year's $2.40 billion. Looking ahead, AMD guided Q1 2026 revenue to approximately $9.80 billion, implying roughly 32% year-over-year growth, with non-GAAP gross margin expected at approximately 55%.

Key Takeaways
  • Strong demand for AMD EPYC server processors
  • Continued ramp of AMD Instinct GPU shipments for data center AI
  • Record Client business revenue driven by Ryzen processor demand and market share gains
  • Higher semi-custom revenue and strong Radeon GPU demand in Gaming
  • Approximately $360 million release of previously reserved MI308 inventory charges
  • Approximately $390 million in AMD Instinct MI308 revenue to China

“2025 was a defining year for AMD, with record revenue and earnings driven by strong execution and broad-based demand for our high-performance and AI platforms.”

AMD CEO, on the earnings call

Forward Guidance & Outlook

For Q1 2026, AMD expects revenue of approximately $9.8 billion, plus or minus $300 million, including approximately $100 million of AMD Instinct MI308 sales to China. The mid-point represents year-over-year growth of approximately 32% and a sequential decline of approximately 5%. Non-GAAP gross margin is expected to be approximately 55%. Non-GAAP operating expenses are expected to be approximately $3.05 billion, with an effective tax rate of approximately 13% and diluted share count of approximately 1.65 billion shares.

AMD YoY Financials

Q4 2025 vs Q4 2024 · SEC filings Q4 2024 Q4 2025
$0$3.0B$6.0B$9.0B$7.7B$10.3BRevenue$3.9B$5.6BGross Profit$871.0M$1.8BOperating Income$482.0M$1.5BNet Income
$0$3.0B$6.0B$9.0BRevenueGross ProfitOperating IncomeNet Income

AMD Revenue by Segment

Data Center$5.4B+39.0%
Client$3.1B+34.0%
Gaming$843.0M+50.0%
Embedded$950.0M+3.0%

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