AMD on November 3, 2026 reported third-quarter results for the period ended September 26, 2026. Revenue was a record $13.4 billion, up 45% year over year. GAAP diluted EPS was $1.46; non-GAAP diluted EPS was $2.09. Data Center segment revenue hit a record $8.5 billion, up 97% year over year, driven by EPYC processors and the launch of Instinct MI450 Series GPUs, according to AMD's earnings release.
CEO Lisa Su said demand for Instinct and EPYC continued to strengthen and that growth should accelerate further in the fourth quarter as Helios and "Venice" production scale. CFO Jean Hu said the Q4 outlook reflects accelerating revenue and earnings growth across the Data Center portfolio.
Key Facts
| Metric | Figure |
|---|---|
| Q3 revenue | $13.4B ($13,377M), +45% YoY (AMD) |
| GAAP diluted EPS | $1.46, +95% YoY |
| Non-GAAP diluted EPS | $2.09, +74% YoY |
| GAAP / non-GAAP gross margin | 54% / 56% |
| Data Center revenue | $8.5B ($8,546M), +97% YoY; ~64% of Q3 revenue |
| Client and Gaming | $3.7B, −8% YoY (Client $2.9B +7%; Gaming $773M −40%) |
| Embedded | $1.1B, +29% YoY |
| Q4 revenue guide | ~$17B ±3%; midpoint ~+66% YoY / ~+27% QoQ |
| Q4 non-GAAP gross margin guide | ~55% |
| 2027 company revenue | Grow more than 80% (Su on earnings call; The Verge / Motley Fool transcript) |
| 2027 Data Center mix | More than 80% of total company revenue (Su / Hu on call; The Verge) |
| Street vs. guide | 2027 >80% growth above ~77% LSEG analyst estimate (Reuters via CNA); Q4 guide above ~$16.2B LSEG consensus (CNBC / CNA) |
Background
AMD framed Q3 as a record quarter for revenue and said Data Center nearly doubled year over year. Segment tables in the release put Data Center operating income at about $2.9 billion for the quarter.
On the call, Su said the company now expects server revenue to double year over year in 2027 and Data Center AI revenue to grow even faster than projected 90 days earlier, per Motley Fool's transcript and CNBC. She also said Anthropic, Meta, Microsoft, OpenAI, and Oracle Cloud Infrastructure are running workloads on the first Helios rack-scale systems. The release notes agreements to acquire World Labs and Taalas; Su said both are expected to close by year-end (Motley Fool transcript).
Client and Gaming remains the drag. Gaming fell 40% on lower semi-custom and graphics revenue. Su told The Verge the firm is planning for a down year in consumer markets in 2027 amid component price pressure.
Reactions and Impact
CNBC reported the stock rose about 8% in extended trading after the release before paring gains. Reuters (via CNA) said the 2027 outlook and beat offered a counterpoint to AI-spend fears after Intel's weak outlook the prior week, with Intel, Nvidia, and Broadcom also higher in sympathy.
What We Don't Know Yet
- How much of 2027 Data Center growth is locked under firm customer commitments versus planned capacity.
- Exact Helios and MI450 shipment volumes for Q4 and 2027.
- Timing and terms for closing the World Labs and Taalas deals.
- Whether Client and Gaming declines deepen beyond management's "down year" framing for 2027 consumer markets.