Why it matters
- AMD's third-quarter revenue rose 45% to a record $13.38 billion, and adjusted EPS rose 74% to $2.09, the company said on Tuesday, Nov. 3. Reuters said analysts had expected $13.09 billion and $1.95.
- Data center revenue nearly doubled, up 97% to a record $8.55 billion on sales of Instinct GPUs and EPYC CPUs, AMD said. Reuters put the estimate at $8.20 billion.
- AMD guided fourth-quarter revenue to about $17 billion, plus or minus 3%, above the $16.23 billion LSEG average cited by Reuters. The stock traded about 7.9% higher after hours, Yahoo Finance data show.
Updated Nov. 4, before the open: AMD gave back its after-hours gain in premarket trading on Wednesday. The stock traded near $483.32 at about 8:53 a.m. ET, roughly flat with Tuesday's $483.90 close and down from about $522.05 after hours on Tuesday, Yahoo Finance data show. It had traded near $517 at about 4 a.m. ET before sliding. CNBC said AI-related stocks were weak before the bell as Nasdaq-100 futures lagged gains in Dow and S&P 500 futures. Read our story on how markets are reacting to the midterm results.
Advanced Micro Devices shares jumped nearly 8% in after-hours trading on Tuesday, Nov. 3, after the chipmaker reported record third-quarter revenue of $13.4 billion and forecast about $17 billion for the fourth quarter. Both topped Wall Street's estimates, according to Reuters.
Revenue rose 45% from $9.25 billion a year earlier, AMD said in its earnings release, filed with the SEC on Form 8-K. Adjusted (non-GAAP) earnings per share rose 74% to $2.09. On a GAAP basis, diluted EPS was $1.46, up from 75 cents.
"We delivered a record quarter with revenue exceeding the high end of our guidance as Data Center segment sales nearly doubled year-over-year," Chief Executive Lisa Su said in the release.
AMD Q3 2026 results vs. estimates
| Item | Q3 2026 | Q3 2025 | Estimate |
|---|---|---|---|
| Revenue | $13.38 billion | $9.25 billion | $13.09 billion |
| Adjusted EPS | $2.09 | $1.20 | $1.95 |
| Data center revenue | $8.55 billion | $4.34 billion | $8.20 billion |
| Client and gaming revenue | $3.72 billion | $4.05 billion | $3.79 billion |
| Embedded revenue | $1.11 billion | $857 million | n/a |
Sources: AMD's earnings release (Form 8-K); estimates as reported by Reuters.
Data center sales were driven by EPYC server processors and the launch of AMD's Instinct MI450 series GPUs, the company said. Client revenue rose 7% to $2.95 billion. Gaming revenue fell 40% to $773 million on lower semi-custom and graphics sales. Adjusted gross margin was 56%, up from 54% a year earlier.
What is AMD's fourth-quarter outlook?
AMD expects fourth-quarter revenue of about $17 billion, plus or minus 3%. The midpoint would be growth of about 66% from a year earlier and about 27% from the third quarter, AMD said. That is above the analysts' average estimate of $16.23 billion, according to LSEG data cited by Reuters.
The company expects an adjusted gross margin of about 55%. Reuters said that compares with estimates of 55.27%. Chief Financial Officer Jean Hu said in the release that the outlook "reflects accelerating revenue and earnings growth, driven by strong demand across our Data Center portfolio."
How did AMD stock react?
AMD traded near $522.05 at about 4:52 p.m. ET, up about 7.9% from its regular-session close of $483.90, Yahoo Finance data show. Reuters reported the shares jumped more than 8% in extended trading. The stock had closed up about 3.7% on Tuesday from Monday's $466.84, but it is still well below its Oct. 28 close of $578.44.
The report caps a busy stretch of big tech earnings. Read our stories on Intel's plunge after a weak outlook and Apple's record iPhone quarter, and follow more results in our companies section and the latest global market news.
Sources
- AMD, Form 8-K and press release: AMD reports third quarter 2026 financial results (Nov. 3, 2026)
- Reuters via The Globe and Mail, AMD forecasts quarterly revenue above estimates as data centre growth accelerates (Nov. 3, 2026)
- Yahoo Finance, AMD chart data, including after-hours trading
- Yahoo Finance, AMD premarket chart data, Nov. 4
- CNBC, Stock market today live updates (Nov. 4, 2026)
- Yahoo Finance, AMD daily closes
