Advanced Micro Devices Inc · NASDAQ:AMD
Advanced Micro Devices — Q3 2026 Earnings Presentation
25 slides from Advanced Micro Devices's earnings presentation, Nov 3, 2026
Slide 1: AMD Financial Results Third Quarter 2026
AMD Financial Results Third Quarter 2026 November 3, 2026
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 data center AI accelerator opportunity; AMD's large gro
Slide 3: Our Journey
Leadership Product Portfolio Expanding Customer & Partner Ecosystem Our Journey Data Center and AI Growth Strong Financial Foundation 3 | | Q3 2026 FINANCIAL RESULTS – November 3, 2026
Slide 4: Strategic Pillars
Strategic Pillars Powering AI and High-Performance Compute Everywhere Extend Compute Expand Data Center Open Software Platforms Powering Technology Leadership Leadership & Developer Enablement AI Everywhere CPU, GPU, FPGA, Cloud, Enterprise and Production-Grade High-Performance, Adaptive Networking,
Slide 5: Large Growth Opportunities Across a Diverse Set of Markets
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 2026 Revenue
Q3 2026 Revenue $13.4B Record revenue of $13.4 billion, up 45% y/y $9.2B Driven by record Data Center revenue, up 97% y/y, and strong Embedded growth, partially offset by decline in Client & Gaming Q3 2025 Q3 2026 6 | | Q3 2026 FINANCIAL RESULTS – November 3, 2026
Slide 7: Q3 2026 Gross Margin
Q3 2026 Gross Margin (1) GAAP Non-GAAP 56% 52% 54% 54% Q3 2025 Q3 2026 Q3 2025 Q3 2026 Non-GAAP gross margin up 190 bps y/y driven by richer product mix (1) See Appendices for GAAP to Non-GAAP reconciliation 7 | | Q3 2026 FINANCIAL RESULTS – November 3, 2026
Slide 8: Q3 2026 Operating Income
Q3 2026 Operating Income (1) GAAP Non-GAAP $3.9B $2.8B $2.2B $1.3B Q3 2025 Q3 2026 Q3 2025 Q3 2026 Record Non-GAAP operating income of $3.9 billion, up 75% y/y, driven by higher revenue (1) See Appendices for GAAP to Non-GAAP reconciliation 8 | | Q3 2026 FINANCIAL RESULTS – November 3, 2026
Slide 9: Q3 2026 Diluted Earnings Per Share
Q3 2026 Diluted Earnings Per Share (1) GAAP Non-GAAP $2.09 $1.46 $1.20 $0.75 Q3 2025 Q3 2026 Q3 2025 Q3 2026 Record non-GAAP EPS of $2.09, up 74% y/y, driven by higher revenue and operating income (1) See Appendices for GAAP to Non-GAAP reconciliation 9 | | Q3 2026 FINANCIAL RESULTS – November 3, 20
Slide 10: Summary P&L | GAAP
Q3 2026 Summary P&L | GAAP $ in millions, except per share data and % Q3’26 Q3’25 Y/Y Q2’26 Q/Q Revenue $13,377 $9,246 Up 45% $11,536 Up 16% Gross Profit $7,210 $4,780 Up 51% $6,203 Up 16% Gross Margin 54% 52% Up 2 ppts 54% Flat Operating Expenses $4,378 $3,510 Up 25% $4,213 Up 4% Operating Expense/
Slide 11: Summary P&L | Non-GAAP
Q3 2026 Summary P&L | NON-GAAP(1) $ in millions, except per share data and % Q3’26 Q3’25 Y/Y Q2’26 Q/Q Revenue $13,377 $9,246 Up 45% $11,536 Up 16% Gross Profit $7,483 $4,992 Up 50% $6,488 Up 15% Gross Margin 56% 54% Up 2 ppts 56% Flat Operating Expenses $3,560 $2,754 Up 29% $3,394 Up 5% Operating E
Slide 12: Segment Results
Q3 2026 Segment Results $ in millions Q3’26 Q3’25 Y/Y Q2’26 Q/Q Data Center Net Revenue $8,546 $4,341 Up 97% $6,718 Up 27% Operating Income $2,882 $1,074 Up 168% $2,103 Up 37% Client & Gaming Net Revenue $3,722 $4,048 Down 8% $3,841 Down 3% Operating Income $573 $867 Down 34% $582 Down 2% Embedded N
Slide 13: Summary Balance Sheet Items
Q3 2026 Summary Balance Sheet Items $ in millions Q3’26 Q2’26 Q/Q Cash, Cash Equivalents and $15,776 $13,111 Up 20% Short-term Investments Accounts Receivable, Net $9,209 $7,281 Up 26% Inventories $11,463 $8,468 Up 35% Total Debt $7,079 $3,226 Up 119% Record cash, cash equivalents and short-term inv
Slide 14: Data Center Segment
Q3 2026 Data Center Segment Revenue Operating Margin Strategic Highlights $8.5B 34% ▪ Anthropic, Meta, Microsoft, OpenAI and Oracle Cloud Infrastructure are running models and workloads on the $4.3B 25% first AMD Helios rackscale solutions. ▪ Introduced the AMD Helion reference architecture, an open
Slide 15: Client and Gaming Segment
Q3 2026 Client and Gaming Segment Revenue Operating Margin Strategic Highlights $4.0B $3.7B Gaming 21% Gaming $1.3B $0.8B 15% Client ▪ The AMD Ryzen AI Halo platform powered by Client Ryzen AI Max PRO 400 Series processors is now $2.9B $2.8B available for developers and creators building superintell
Slide 16: Embedded Segment
Q3 2026 Embedded Segment Revenue Operating Margin Strategic Highlights $1,109M 41% $857M 33% ▪ Began sampling AMD Versal AI Core XQRVC1902 space-grade adaptive SoCs. ▪ Kodiak AI’s next-generation autonomous truck Q3 2025 Q3 2026 Q3 2025 Q3 2026 platform is powered by AMD EPYC processors. Revenue Ope
Slide 17: Financial Outlook – Non-GAAP
Financial Outlook – NON-GAAP(1) Q4’26 ~$17 Billion Revenue +/- 3% Gross Margin ~55% Operating Expenses ~$3.75 Billion Other Income (Expense) net of Interest Expense ~$4 Million Effective Tax Rate 13% of pre-tax income Diluted Share Count(2) ~1.67 Billion shares (1) See Cautionary Statement on Slide
Slide 18: Summary
Q3 2026 Summary(1) Data Center Revenue $8.5B Up 97% Y/Y Gross Margin 54% Diluted EPS $1.46 Revenue Client & Gaming Revenue $13.4B $3.7B Down 8% Y/Y Non-GAAP Non-GAAP Up 45% Y/Y Gross Margin 56% Diluted EPS $2.09 Embedded Revenue $1.1B Up 29% Y/Y Record revenue and record non-GAAP earnings driven by
Slide 19: Corporate Responsibility at AMD
Corporate Responsibility at AMD Environmental Social Governance Integrating corporate Advancing environmental Fostering a workplace where responsibility and solutions across our all voices are welcome and governance across product products, supply chain and valued, partnering with design, supply cha
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 2026 FINANCIAL RESULTS – November 3, 2026
Slide 21: Appendices: Gross Profit and Operating Expenses Reconciliation
Appendices Reconciliation of GAAP to Non-GAAP Gross Profit and Gross Margin $ in millions, except % (Unaudited) Q3’26 Q2’26 Q3’25 GAAP gross profit $ 7,210 $ 6,203 $ 4,780 GAAP gross margin 54% 54% 52% Stock-based compensation 9 8 7 Amortization of acquisition-related intangibles 257 260 260 Recover
Slide 22: Appendices: Operating Income Reconciliation
Appendices Reconciliation of GAAP Operating Income to Non-GAAP Operating Income $ in millions, except % (Unaudited) Q3’26 Q2’26 Q3’25 GAAP operating income $ 2,832 $ 1,990 $ 1,270 GAAP operating margin 21% 17% 14% Stock-based compensation 523 503 419 Amortization of acquisition-related intangibles 5
Slide 23: Appendices: Net Income and EPS Reconciliation
Appendices Reconciliation of GAAP to Non-GAAP Net Income / Diluted Earnings Per Share $ in millions, except per share data (Unaudited) Q3’26 Q2’26 Q3’25 GAAP net income / earnings per share $ 2,428 $ 1.46 $ 2,297 $ 1.38 $ 1,243 $ 0.75 Stock-based compensation 523 0.31 503 0.30 419 0.26 Amortization
Slide 24: Appendices: Share Count Overview
Appendices Share Count Overview Q3’26 Q4’26 (1) Shares (millions) (Unaudited) Actual Estimate Basic shares 1,636 1,647 Dilutive impact from employee equity grants (2) 25 21 Diluted shares 1,661 1,668 The table above provides actual share count for Q3’26 and an estimate of share count to use when cal
Slide 25: AMD
AMD 25 | |[ Q3 Q3 2026 2026 FINANCIAL FINANCIAL RESULTS – November RESULTS - November 3, 3, 2026 2026 together we advance_
Advanced Micro Devices — Q3 2026 Earnings Presentation on 6ix