AMD Q3: Record $13.4B Revenue as Data Center Sales Nearly Double

What happened

Fiscal Q3 2026 ended on September 26, 2026, and the results were released after the close on Nov 3 in US Eastern time, with the earnings call held at 5:00 p.m. ET the same day. AMD attributed the quarter to demand for EPYC server processors and Instinct GPUs, and pointed to expanding production of Helios rack-scale systems and Venice processors.

AMD chair and CEO Lisa Su said quarterly revenue exceeded the high end of guidance, data center sales nearly doubled year over year, demand for Instinct and EPYC products continued to strengthen, and growth is expected to accelerate further in the fourth quarter. CFO Jean Hu said revenue grew 45% year over year and non-GAAP earnings per share grew 74%, and the fourth-quarter outlook reflects strong demand across the data center portfolio.

Quarter highlights also included two acquisition agreements: AMD announced an agreement to acquire World Labs, bringing model research expertise, and an agreement to acquire Taalas, adding specialized inference silicon technology. The release said Anthropic, Meta, Microsoft, OpenAI and Oracle Cloud Infrastructure are running models and workloads on the first Helios rack-scale systems.

Key facts

1. Revenue: $13.377 billion, up 45% year over year and 16% quarter over quarter, above the $12.7 billion to $13.3 billion guidance range given in August
2. GAAP: net income of $2.428 billion, diluted earnings per share of $1.46, up 95% year over year, gross margin of 54%
3. Non-GAAP: net income of $3.471 billion, diluted earnings per share of $2.09, up 74% year over year, gross margin of 56%, operating income of $3.923 billion
4. Data center: $8.5 billion, up 97% year over year, driven by EPYC processor demand and the launch of Instinct MI450 Series GPUs
5. Client and gaming: $3.7 billion, down 8% year over year, with client at $2.9 billion, up 7%, and gaming at $773 million, down 40%
6. Embedded: $1.1 billion, up 29% year over year, led by aerospace and defense, automotive, communications and industrial end markets
7. Q4 guidance: revenue of approximately $17 billion, plus or minus 3%, with the midpoint implying about 66% year-over-year growth and about 27% sequential growth, and non-GAAP gross margin of about 55%
8. Consensus figures, as reported: LSEG consensus was $13.09 billion in revenue and $1.95 in non-GAAP earnings per share, with Q4 revenue consensus of about $16.2 billion; shares rose about 7% in extended trading after the release
9. Earnings-call remarks, as reported: Lisa Su said on the call that AMD expects revenue to grow more than 80% in 2027, with data center revenue above 80% of total revenue and server revenue roughly doubling