Slide 1: AMD Financial Results Third Quarter 2025
AMD Financial Results Third Quarter 2025 November 4, 2025
Slide 2: Cautionary Statement
Cautionary Statement This presentation contains forward-looking statements concerning Advanced Micro Devices, Inc. (AMD), such as the features, functionality, performance, availability, timing and expected benefits of future AMD products; AMD's large growth opportunities across diverse set of market
Slide 3: Our Journey
Leadership Product Portfolio Expanding Customer & Partner Ecosystem Our Journey Data Center and AI Growth Strong Financial Foundation 3 | | Q3 2025 FINANCIAL RESULTS – November 4, 2025
Slide 4: High Performance & Adaptive Computing Leadership
High Performance & Adaptive Computing Leadership Leadership Breadth and Depth Open, Proven Deep, Collaborative Foundational IP of Portfolio Software Ecosystem Partnerships Accelerating innovation in Scaling compute engines Delivering a robust Computing partner of silicon architecture, from cloud to
Slide 5: Large Growth Opportunities
Large Growth Opportunities Across a Diverse Set of Markets Data Center Client and Gaming Embedded Performance, efficiency and Leadership performance Industry’s broadest portfolio AI capabilities for commercial and TCO across cloud, of adaptive and embedded and consumer PC and enterprise and AI workl
Slide 6: Q3 2025 Revenue
Q3 2025 Revenue Record third quarter revenue of $9.2B $9.2 billion increased 36% y/y $6.8B Revenue growth driven by broad based demand across our Data Center AI, Server, and PC businesses Q3 2024 Q3 2025 6 | | Q3 2025 FINANCIAL RESULTS – November 4, 2025
Slide 7: Q3 2025 Gross Margin
Q3 2025 Gross Margin 1 GAAP Non-GAAP 52% 54% 54% 50% Q3 2024 Q3 2025 Q3 2024 Q3 2025 Flat Y/Y driven by product mix 1. See Appendices for GAAP to Non-GAAP reconciliation 7 | | Q3 2025 FINANCIAL RESULTS – November 4, 2025
Slide 8: Q3 2025 Operating Income
Q3 2025 Operating Income 1 GAAP Non-GAAP $1.3B $2.2B $1.7B $0.7B Q3 2024 Q3 2025 Q3 2024 Q3 2025 Increase driven by higher revenue partially offset by higher operating expenses 1. See Appendices for GAAP to Non-GAAP reconciliation 8 | | Q3 2025 FINANCIAL RESULTS – November 4, 2025
Slide 9: Q3 2025 Diluted Earnings Per Share
Q3 2025 Diluted Earnings Per Share 1 GAAP Non-GAAP $1.20 $0.75 $0.92 $0.47 Q3 2024 Q3 2025 Q3 2024 Q3 2025 GAAP EPS up 60% y/y, primarily driven by higher revenue Record Non-GAAP EPS up 30% y/y, primarily driven by higher revenue 1. See Appendices for GAAP to Non-GAAP reconciliation 9 | | Q3 2025 FI
Slide 10: Summary P&L | GAAP
Q3 2025 Summary P&L | GAAP $ in millions, except per share data and % Q3’251 Q3’24 Y/Y Q2’252 Q/Q Revenue $9,246 $6,819 Up 36% $7,685 Up 20% Gross Profit $4,780 $3,419 Up 40% $3,059 Up 56% Gross Margin 52% 50% Up 2 ppts 40% Up 12 ppts Operating Expenses $3,510 $2,695 Up 30% $3,193 Up 10% Operating E
Slide 11: Summary P&L | NON-GAAP
Q3 2025 Summary P&L | NON-GAAP1 2 3 $ in millions, except per share data and % Q3’25 Q3'24 Y/Y Q2’25 Q/Q Revenue $9,246 $6,819 Up 36% $7,685 Up 20% Gross Profit $4,992 $3,657 Up 37% $3,326 Up 50% Gross Margin 54% 54% Flat 43% Up 11 ppts Operating Expenses $2,754 $1,942 Up 42% $2,429 Up 13% Operating
Slide 12: Q3 2025 Segment Results
Q3 2025 Segment Results $ in millions Q3'25 Q3'24 Y/Y Q2'25 Q/Q Data Center Net Revenue $4,341 $3,549 Up 22% $3,240 Up 34% Operating Income (Loss) $1,074 $1,041 Up 3% $(155) Up 793% Client & Gaming Net Revenue $4,048 $2,343 Up 73% $3,621 Up 12% Operating Income $867 $288 Up 201% $767 Up 13% Embedded
Slide 13: Summary Balance Sheet Items
Q3 2025 Summary Balance Sheet Items $ in millions Q3’25 Q2’25 Q/Q Cash, Cash Equivalents and $7,243 $5,867 Up 23% Short-term Investments Accounts Receivable, Net $6,201 $5,115 Up 21% Inventories $7,313 $6,677 Up 10% Total Debt $3,220 $3,218 Flat Cash from operating activities of continuing operation
Slide 14: Q3 2025 Data Center Segment
Q3 2025 Data Center Segment Revenue Operating Margin Strategic Highlights $4.3B 29% $3.5B 25% • AMD announced a strategic partnership with OpenAI to deploy 6-GW of AMD GPUs, with initial 1-GW rollout of AMD Instinct MI450 GPUs in 2H 2026. • AMD unveiled its “Helios” rack-scale design that supports M
Slide 15: Q3 2025 Client and Gaming Segment
Q3 2025 Client and Gaming Segment Revenue Operating Margin Strategic Highlights $4.0B 21% $2.3B • AMD launched AMD Ryzen Threadripper 9000WX Gaming 12% and PRO 9000X Series processors, delivering unmatched multi-core performance for creators, $0.5B Client enthusiasts and professionals. Client $2.8B
Slide 16: Q3 2025 Embedded Segment
Q3 2025 Embedded Segment Revenue Operating Margin Strategic Highlights $927M $857M 40% 33% • Launched AMD Versal RF Series, delivering industry-leading compute performance for aerospace and defense applications • Began shipping Versal Premium Series Gen 2, the Q3 2024 Q3 2025 Q3 2024 Q3 2025 first a
Slide 17: Financial Outlook – Non-GAAP
Financial Outlook – NON-GAAP1 Q4’25 ~$9.6 Billion, Revenue +/- $300 Million Gross Margin ~54.5% Operating Expenses ~$2.8 Billion Interest Expense/Other Income (Expense), net ~$37 Million Effective Tax Rate ~13% of pre-tax income Diluted Share Count2 ~1.65 Billion shares Note: Our current outlook doe
Slide 18: Q3 2025 Summary
Q3 2025 Summary1 Data Center Segment Revenue $4.3B Gross Margin 52% Diluted EPS $0.75 Record Revenue Up 22% Y/Y $9.2B Client and Gaming Non-GAAP Non-GAAP Up 36% Y/Y Segment Revenue $4.0B Gross Margin 54% Diluted EPS $1.20 Up 73% Y/Y Revenue growth driven by broad based demand across our Data Center
Slide 19: Corporate Responsibility at AMD
Corporate Responsibility at AMD Environmental Social Governance Integrating corporate Advancing environmental Fostering a workplace where responsibility and solutions in our products, all voices are welcomed and governance across product supply chain and operations, valued, partnering with design, s
Slide 20: Our Momentum
Our Momentum Expanding Data World-Class Large and Technology Strong Balance Center and AI Execution and Compelling TAM Leadership Sheet Leadership Focus Driving Long-term Shareholder Returns 20 | | Q3 2025 FINANCIAL RESULTS – November 4, 2025
Slide 21: Appendices
Appendices Reconciliation of GAAP to Non-GAAP Gross Profit and Gross Margin $ in millions, except % (Unaudited) Q3’25 Q3’24 Q2’25 GAAP gross profit $ 4,780 $ 3,419 $ 3,059 GAAP gross margin 52% 50% 40% Stock-based compensation 7 5 6 Amortization of acquisition-related intangibles 260 233 260 Acquisi
Slide 22: Appendices
Appendices Reconciliation of GAAP Operating Income (Loss) to Non-GAAP Operating Income $ in millions, except % (Unaudited) Q3’25 Q3’24 Q2’25 GAAP operating income (loss) $ 1,270 $ 724 $ (134) GAAP operating margin 14% 11% (2)% Stock-based compensation 419 351 369 Amortization of acquisition-related
Slide 23: Appendices
Appendices Reconciliation of GAAP to Non-GAAP Net Income / Diluted Earnings Per Share $ in millions, except per share data (Unaudited) Q3’25 Q3’24 Q2’25 GAAP net income / earnings per share $ 1,243 $ 0.75 $ 771 $ 0.47 $ 872 $ 0.54 Stock-based compensation 419 0.26 351 0.21 369 0.23 Amortization of a
Slide 24: Appendices
Appendices Reconciliation of GAAP Net Cash Provided by Operating Activities of Continuing Operations to Free Cash Flow $ in millions, except % (Unaudited) Q3’25 GAAP net cash provided by operating activities of continuing operations $ 1,788 Operating cash flow margin % from continuing operations 19%
Slide 25: Appendices: Share Count Overview
Appendices Share Count Overview Q3’25 Q4’25 (1) Shares (millions) (Unaudited) Actual Estimate Basic shares 1,626 1,630 Dilutive impact from employee equity grants (2) 15 17 Diluted shares 1,641 1,647 The table above provides actual share count for Q3’25 and an estimate of share count to use when cal
Slide 26: Appendices
Appendices Reconciliation of GAAP to Adjusted NON-GAAP Financial Measures $ in millions, except % (Unaudited) Q2’25 GAAP gross profit $ 3,059 GAAP gross margin 40% Stock-based compensation, amortization of acquisition-related intangibles, 267 acquisition-related and other costs Inventory and related
Slide 27: | Q3 2025 FINANCIAL RESULTS – November 4, 2025
27 | | Q3 2025 FINANCIAL RESULTS – November 4, 2025