# AMD Q3 revenue rises 45% to $13.4 billion, guides Q4 to $17 billion Data Center revenue rose 97% to $8.5 billion, and AMD's $17 billion Q4 forecast tops the $16.3 billion consensus. By The Signal Edition Newsroom | Big Tech / Results Published: 2026-11-03T22:48:26Z Updated: 2026-11-03T22:48:26Z Canonical: https://thesignaledition.com/article/amd-q3-2026-revenue-13-4-billion-q4-guidance-amd7r2 Image: https://thesignaledition.com/media/8b4c7cfa272698ff0989b6fd6302394d.jpg (The AMD headquarters building, photographed in March 2024; credit: Lijiaxuan / Wikimedia Commons (CC0 1.0)) ## Key points - AMD reported third-quarter 2026 revenue of $13.377 billion on Nov. 3, 2026, up 45% from a year earlier, with GAAP net income of $2.428 billion. - Data Center segment revenue was a record $8.5 billion, up 97%, about 64% of the company's total. - AMD forecast fourth-quarter revenue of about $17 billion, plus or minus 3%, against a $16.3 billion consensus cited by Benzinga. - Free cash flow fell to $554 million from $1.53 billion a year earlier as inventories rose about 45% since Dec. 27, 2025. ## What AMD reported Advanced Micro Devices (NASDAQ: AMD) reported third-quarter 2026 revenue of $13.377 billion on Nov. 3, 2026, up 45% from $9.246 billion a year earlier and up 16% from $11.536 billion in the second quarter. Net income was $2.428 billion, or $1.46 per diluted share. The company forecast fourth-quarter revenue of about $17 billion, plus or minus 3%. [1](https://www.sec.gov/Archives/edgar/data/2488/000000248826000188/q32026991.htm) On a non-GAAP basis, AMD reported gross margin of 56%, operating income of $3.923 billion and diluted earnings per share of $2.09, up 74% from $1.20 a year earlier. GAAP operating income rose 123% to $2.832 billion, for an operating margin of 21% against 14% in the third quarter of 2025. The quarter ended Sept. 26, 2026. [1](https://www.sec.gov/Archives/edgar/data/2488/000000248826000188/q32026991.htm) Chair and chief executive Lisa Su said revenue exceeded the high end of the company's guidance. Chief financial officer Jean Hu said the outlook reflects "accelerating revenue and earnings growth." [1](https://www.sec.gov/Archives/edgar/data/2488/000000248826000188/q32026991.htm) ## Data Center drove the growth Data Center segment revenue was a record $8.5 billion, up 97% from a year earlier. AMD attributed the increase to demand for EPYC processors and the launch of Instinct MI450 Series GPUs. Based on the rounded segment figure, Data Center made up about 64% of total revenue. Segment operating income was $2.882 billion, up from $1.074 billion in the third quarter of 2025, or about 2.7 times. [1](https://www.sec.gov/Archives/edgar/data/2488/000000248826000188/q32026991.htm) The other segments were mixed. Client and Gaming revenue fell 8% to $3.7 billion: Client rose 7% to $2.9 billion, while Gaming fell 40% to $773 million on lower semi-custom and graphics sales. Embedded revenue rose 29% to $1.1 billion. [1](https://www.sec.gov/Archives/edgar/data/2488/000000248826000188/q32026991.htm) AMD said Anthropic, Meta, Microsoft, OpenAI and Oracle Cloud Infrastructure are running workloads on the first Helios rack-scale systems, which use MI450 GPUs and 6th Gen EPYC CPUs. The company also announced agreements to acquire World Labs and Taalas. The release gives no price or closing date for either deal and lists their expected timing and completion among its forward-looking statements. [1](https://www.sec.gov/Archives/edgar/data/2488/000000248826000188/q32026991.htm) ## How the results compare with expectations A Benzinga preview published before the report put consensus at revenue of $13.09 billion and earnings per share of $1.95, without naming the data provider. Against those figures, AMD's revenue was about $0.29 billion, or 2.2%, higher and non-GAAP earnings per share were about 7% higher, a calculation based on the preview's numbers and AMD's reported $13.377 billion and $2.09. Traders Agency, citing Seeking Alpha, reported a revenue beat of $290 million and an earnings beat of $0.15. [2](https://www.kucoin.com/news/flash/amd-q3-earnings-report-and-ai-strategy-outlook) [3](https://tradersagency.com/blog/amd-posts-record-q3-2026-revenue-as-data-center-sales-nearly-double-guides-higher-for-q4) [1](https://www.sec.gov/Archives/edgar/data/2488/000000248826000188/q32026991.htm) The preview also cited a Wall Street consensus of $16.3 billion for fourth-quarter revenue, again without naming a source. AMD's guidance range works out to $16.49 billion to $17.51 billion, so the low end sits above that figure. The $17 billion midpoint implies a 27% rise from the third quarter and about 66% growth from a year earlier, according to AMD. [2](https://www.kucoin.com/news/flash/amd-q3-earnings-report-and-ai-strategy-outlook) [1](https://www.sec.gov/Archives/edgar/data/2488/000000248826000188/q32026991.htm) ## Cash flow and inventory Cash generation lagged earnings. Free cash flow, a non-GAAP measure AMD defines as operating cash flow less capital expenditures, was $554 million in the quarter, or 4% of revenue, against $1.53 billion, or 17%, in the third quarter of 2025. Inventories rose to $11.463 billion from $7.920 billion at Dec. 27, 2025, an increase of about 45%, and accounts receivable rose to $9.209 billion from $6.315 billion. [1](https://www.sec.gov/Archives/edgar/data/2488/000000248826000188/q32026991.htm) The cash flow statement also shows a $1.179 billion non-cash impact from warrants issued to customers in the quarter, with none a year earlier. The release does not break out which customers the warrants relate to. Cash, equivalents and short-term investments totaled $15.776 billion at quarter end. [1](https://www.sec.gov/Archives/edgar/data/2488/000000248826000188/q32026991.htm) ## What happens next AMD held its earnings call at 2 p.m. PT on Nov. 3. The company has not said when it expects to close the World Labs and Taalas acquisitions, and the quarterly report on Form 10-Q, which carries the full filing detail, is the next document where more terms could appear. The fourth-quarter guidance of about $17 billion will be tested when AMD reports its next results. [1](https://www.sec.gov/Archives/edgar/data/2488/000000248826000188/q32026991.htm) ## Sources 1. [AMD (SEC Form 8-K, Exhibit 99.1): AMD Reports Third Quarter 2026 Financial Results](https://www.sec.gov/Archives/edgar/data/2488/000000248826000188/q32026991.htm) (2026-11-03T21:16:00Z) 2. [Benzinga via KuCoin News: AMD Q3 Earnings Report and AI Strategy Outlook (preview)](https://www.kucoin.com/news/flash/amd-q3-earnings-report-and-ai-strategy-outlook) (2026-11-03T16:04:14Z) 3. [Traders Agency: AMD Posts Record Q3 2026 Revenue as Data Center Sales Nearly Double, Guides Higher for Q4](https://tradersagency.com/blog/amd-posts-record-q3-2026-revenue-as-data-center-sales-nearly-double-guides-higher-for-q4) (2026-11-03T21:40:39Z)