Advanced Micro Devices (AMD) · Fiscal Q3 2026 · Form 8-K filed Nov 3, 2026
| Key figure | This quarter |
|---|---|
| Revenue | $13.38 billion |
| Net income (GAAP) | $2.43 billion |
| Diluted EPS (GAAP) | $1.46 |
| Diluted EPS (non-GAAP) | $2.09 |
| Gross margin | 54% |
| Operating margin (GAAP) | 21% |
| Free cash flow (non-GAAP) | $554 million |
Results
Net revenue was $13,377 million, up from $11,536 million in the prior quarter and $9,246 million a year earlier.
Net income was $2,428 million, compared with $2,297 million in the prior quarter and $1,243 million a year earlier.
GAAP diluted earnings per share were $1.46, compared with $1.38 in the prior quarter and $0.75 a year earlier. Non-GAAP diluted earnings per share were $2.09, compared with $1.66 in the prior quarter and $1.20 a year earlier.
Margins and cash flow
Gross margin was 54%, compared with 52% a year earlier and flat versus the prior quarter.
Operating margin was 21%, compared with 14% a year earlier and 17% in the prior quarter.
Free cash flow was $554 million, compared with $1,558 million in the prior quarter and $1,530 million a year earlier.
Guidance
For the fourth quarter of 2026, AMD expects revenue of approximately $17 billion, plus or minus 3%. The company said the mid-point of that range represents year-over-year growth of approximately 66% and a sequential increase of approximately 27%.
Non-GAAP gross margin is expected to be approximately 55%.
What else stood out
Data Center segment revenue was a record $8.5 billion, up 97% year-over-year, driven by demand for EPYC processors and the launch of Instinct MI450 Series GPUs.
Client and Gaming segment revenue was $3.7 billion, down 8% year-over-year.
Embedded segment revenue was $1.1 billion, up 29% year-over-year, led by aerospace and defense, automotive, communications and industrial end markets.
AMD announced an agreement to acquire World Labs, bringing model research expertise to AMD to help shape superintelligence infrastructure and strengthen the open ecosystem.
On the quarterly trend, revenue has risen each period in the data shown, from $5,835 million in the quarter ended June 29, 2024 to $13,377 million in the quarter ended September 26, 2026. GAAP diluted EPS moved from $0.16 to $1.46 over the same span, and net income from $265 million to $2,428 million.
