Monday, 9 November 2026
Silicon Analytica
Every AI story is a chip story.
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Designs high-performance computing and graphics products.

AMD

Latest quarter: Q3 FY2026, ended September 2026

AMD · NasdaqDesign & fabless

Compare in Financials

About the company

Advanced Micro Devices designs processors, graphics chips and adaptive computing products. Its processors are built on the x86 architecture, which AMD shares with Intel. The Data Center segment includes EPYC server processors, Instinct AI accelerators, data processing units and adaptive chips for data centers. Client and Gaming covers x86-based Ryzen processors for desktops and notebooks, Radeon graphics cards and semi-custom chips for game consoles. Embedded serves industrial, automotive, communications and other markets with embedded processors and FPGAs, largely from its 2022 acquisition of Xilinx. AMD is fabless and relies primarily on TSMC to manufacture its chips. Data center has become its largest and fastest-growing business, led by server CPUs and AI accelerators.

Silicon Analytica summary based on the company's latest annual report

Key figures

Q3 FY2026 · 26 Sept 2026

Revenue
▲ +44.7% y/y
Operating income
▲ +123.0% y/y
Gross marginCalc.
+2.2 pp y/y
Operating marginCalc.
+7.4 pp y/y
Net income
▲ +95.3% y/y
Free cash flowCalc.
▼ −70.9% y/y

Figures from company filings. Calculated values marked Calc. · Methodology →

How the company earns its revenue

$48.0of every $100 · Data Center$16.6B in FY2025

Total of categories: US$34.6B, reconciles to reported revenue. Different classifications are never added together.

View sources
  • AMD Form 10-K · Notes, segment information (revenue by reportable segment); Client and Gaming is one reportable segment as filed · FY2025 · published 4 Feb 2026

Quarterly trend

12 available quarters · US GAAP

Revenue, USD (left) · gross margin, % (right) · US GAAPRevenueGross margin$0$5B$10B$15BQ4 FY2023Q2 FY2024Q4 FY2024Q2 FY2025Q4 FY2025Q2 FY2026Revenue, Q4 FY2023: US$6.2B (Calculated)$6.2BRevenue, Q1 FY2024: US$5.5B (Reported)$5.5BRevenue, Q2 FY2024: US$5.8B (Reported)$5.8BRevenue, Q3 FY2024: US$6.8B (Reported)$6.8BRevenue, Q4 FY2024: US$7.7B (Calculated)$7.7BRevenue, Q1 FY2025: US$7.4B (Reported)$7.4BRevenue, Q2 FY2025: US$7.7B (Reported)$7.7BRevenue, Q3 FY2025: US$9.2B (Reported)$9.2BRevenue, Q4 FY2025: US$10.3B (Calculated)$10BRevenue, Q1 FY2026: US$10.3B (Reported)$10BRevenue, Q2 FY2026: US$11.5B (Reported)$12BRevenue, Q3 FY2026: US$13.4B (Reported)$13.4B30%60%Gross margin, Q4 FY2023: 47.2% (Calculated)Gross margin, Q1 FY2024: 46.8% (Calculated)Gross margin, Q2 FY2024: 49.1% (Calculated)Gross margin, Q3 FY2024: 50.1% (Calculated)Gross margin, Q4 FY2024: 50.7% (Calculated)Gross margin, Q1 FY2025: 50.2% (Calculated)Gross margin, Q2 FY2025: 39.8% (Calculated)Gross margin, Q3 FY2025: 51.7% (Calculated)Gross margin, Q4 FY2025: 54.3% (Calculated)Gross margin, Q1 FY2026: 52.8% (Calculated)Gross margin, Q2 FY2026: 53.8% (Calculated)Gross margin, Q3 FY2026: 53.9% (Calculated)53.9%Source: AMD quarterly filings and results releases · gross margin = gross profit ÷ revenue, calculated by SiliconAnalyticaSilicon Analyticasiliconanalytica.com/companies/amd
View sources
  • AMD Form 10-K · XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; consolidated statements · Q4 FY2023, Q4 FY2024, Q4 FY2025 · published 4 Feb 2026 · covers
  • AMD Form 10-Q · XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; consolidated statements · Q1 FY2024 · published 7 May 2025 · covers
  • AMD Form 10-Q · XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; consolidated statements · Q2 FY2024 · published 6 Aug 2025 · covers
  • AMD Form 10-Q · XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; consolidated statements · Q3 FY2024, Q3 FY2025 · published 5 Nov 2025 · covers
  • AMD Form 10-Q · XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; consolidated statements · Q1 FY2025, Q1 FY2026 · published 6 May 2026 · covers
  • AMD Form 10-Q · XBRL us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax; consolidated statements · Q2 FY2025, Q2 FY2026 · published 5 Aug 2026 · covers
  • AMD Reports Third Quarter 2026 Financial Results · Quarterly consolidated financial results; revenue; read 2026-11-05 · Q3 FY2026 · published 3 Nov 2026 · covers

Financial statements

Full page →

As filed with the SEC (10-K/10-Q), from XBRL data. US$ millions, except per-share amounts; shares in millions.

Line itemQ3 FY2026To 26 Sept 202610-Q ↗Q2 FY2026To 27 Jun 202610-Q ↗Q1 FY2026To 28 Mar 202610-Q ↗Q4 FY2025To 27 Dec 202510-K ↗Q3 FY2025To 27 Sept 202510-Q ↗
Revenue13,37711,53610,25310,270c9,246
Cost of revenue6,1675,3334,8374,693c4,466
Gross profit7,2106,2035,4165,577c4,780
Gross margin53.9%53.8%52.8%54.3%51.7%
Research & development2,8032,5282,3972,330c2,139
Selling, general & administrative1,2981,4011,2531,198c1,069
Operating income2,8321,9901,4761,752c1,270
Operating margin21.2%17.3%14.4%17.1%13.7%
Interest & other, net−902561c128c322c82
Pre-tax income1,8682,5511,6042,074c1,315
Income tax−555252238455c153
Net income2,4282,2971,3831,511c1,243
Net margin18.2%19.9%13.5%14.7%13.4%
Diluted EPS1.461.380.84—0.75
Diluted shares1,6611,6591,650—1,641

Columns link to the filing. c Calculated by Silicon Analytica from filed figures (hover for the formula); fourth-quarter flows are fiscal year minus nine months. Margins are calculated. Fourth-quarter per-share figures are not filed separately and are left blank.

View sources (5)
  1. AMD 10-Q filed 4 Nov 2026 · accession 0000002488-26-000191
  2. AMD 10-Q filed 5 Aug 2026 · accession 0000002488-26-000123
  3. AMD 10-Q filed 6 May 2026 · accession 0000002488-26-000076
  4. AMD 10-K filed 4 Feb 2026 · accession 0000002488-26-000018
  5. AMD 10-Q filed 5 Nov 2025 · accession 0000002488-25-000166

Values: SEC XBRL company facts (data.sec.gov), refreshed 8 Nov 2026. A period's original filing is used unless a later filing restated it.

Earnings history

AMD's results by period: revenue, margins and segments from stored filings.

Quarters

Fiscal years

Five-year financial history

US GAAP

Latest 5 completed fiscal years, US GAAP, USD, as reported in annual filings (restated comparatives used where later filings revised them). Ratios and growth are Silicon Analytica calculations from the same records.

Revenue

USD · fiscal years · US GAAP · reported

Revenue (USD)FY2021: US$16.4BUS$16.4BFY202125 Dec 2021FY2022: US$23.6BUS$23.6BFY202231 Dec 2022FY2023: US$22.7BUS$22.7BFY202330 Dec 2023FY2024: US$25.8BUS$25.8BFY202428 Dec 2024FY2025: US$34.6BUS$34.6BFY202527 Dec 2025Silicon AnalyticaAMD Form 10-K filed 2026-02-04

Net income attributable to shareholders

USD · fiscal years · US GAAP · reported

Net income attributable to shareholders (USD)FY2021: US$3.2BUS$3.2BFY202125 Dec 2021FY2022: US$1.3BUS$1.3BFY202231 Dec 2022FY2023: US$854MUS$854MFY202330 Dec 2023FY2024: US$1.6BUS$1.6BFY202428 Dec 2024FY2025: US$4.3BUS$4.3BFY202527 Dec 2025Silicon AnalyticaAMD Form 10-K filed 2026-02-04
AMD annual results
USDFY2021ended 25 Dec 2021FY2022ended 31 Dec 2022FY2023ended 30 Dec 2023FY2024ended 28 Dec 2024FY2025ended 27 Dec 2025
Revenue
Gross profit
Gross margin
Operating income
Operating margin
Net income (attributable)
Diluted EPS
R&D expense
R&D as % of revenue

Business model and industry role

Data Center

This segment provides EPYC processors and Instinct GPUs for data centres and AI workloads [1].

Client and Gaming

This segment provides Ryzen processors for desktops and mobiles, Radeon gaming GPUs, and semi-custom SoCs for game consoles [1].

Embedded

This segment provides embedded processors for various end markets [1].

Who buys it

The company sells to large hyperscale customers, original equipment manufacturers (OEMs), original design manufacturers (ODMs), and distributors 1.

How it earns revenue

The company earns revenue from product sales across its Data Center, Client and Gaming, and Embedded segments 1.

What it depends on

Performance depends on strong demand in the Data Center and Client and Gaming segments and managing obligations to purchase wafers and substrates from third parties 1.

What drives profitabilityIncludes Silicon Analytica view

Profitability is driven by product mix and managing inventory charges, such as the $440 million net charge related to U.S. export controls on certain data centre GPUs 1.

Competitive position, drivers and risks

Competitive position

The filing does not name any competitors 1.

Evidence

The excerpt does not contain information to assess competitive position 1.

Growth drivers and conditions

Company view: Growth is driven by accelerating the Data Center business, executing its AI strategy, and delivering an annual cadence of leadership for its GPU solutions 1.

Cyclicality and downside risks

Reported: The company recorded approximately $800 million of inventory and related charges due to U.S. export restrictions to China, and demand for its Embedded products remained mixed 1.

What to watch next

  1. Execution of the company's AI strategy
  2. Demand for Data Center products
  3. Impact of U.S. government export controls
  4. Performance of the Client and Gaming segment
  5. Management of inventory and supply chain commitments

Peer comparison

Compare with another company

Peers not yet selected by the editor. Financials compares latest reported periods and labels mismatched period ends.

Latest analysis on AMD

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Compare with

AMD vs NVIDIAAMD vs IntelAMD vs BroadcomAMD vs Qualcomm

Themes

AI infrastructure demand

More data on AMD

AMD income statement and balance sheet

Related coverage and calendar

Markets

Two days, two directions: why chip stocks broke as markets digested the midterms

Wall Street rallied on the election result, then turned on the AI trade. Semiconductors took the hardest hit, even though nothing in the industry's reported numbers changed this week.

5 Nov 2026●4 min read●Analysis
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14 Oct 2026●7 min●Analysis
Manufacturing

The Race to 1 nm — and the Chip Economy Beyond It

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13 Oct 2026●12 min read●Analysis
Sources & methodology
  1. AMD Form 10-K/A for latest fiscal year ↗ · 4 Feb 2026 · Item 1 Business / Item 4 Information on the Company; risk factors

Annual and quarterly figures come from the company's SEC filings (XBRL financial data and, where needed, the filed statements). Each value keeps its filing, period dates and accounting basis. Ratios, growth rates, free cash flow, split-adjusted EPS and derived quarters are Silicon Analytica calculations, shown with their inputs. Percentage growth is not shown when the prior value is zero or negative. Guidance is shown only as company guidance; no analyst consensus is used.

Data checks: ✓ 54 passed · ⚠ R&D change FY2022: 75.9% YoY exceeds the 60% review threshold.

AW · Reviewed —