Slide 1: AMD Financial Results Second Quarter 2026
AMD Financial Results Second Quarter 2026 August 4, 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 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 | | Q2 2026 FINANCIAL RESULTS – August 4, 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
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: Q2 2026 Revenue
Q2 2026 Revenue $11.5B Record revenue of $11.5 billion, up 50% y/y $7.7B Driven by more than doubling of Data Center revenue and growth in the Embedded and Client and Gaming segments Q2 2025 Q2 2026 6 | | Q2 2026 FINANCIAL RESULTS – August 4, 2026
Slide 7: Q2 2026 Gross Margin
Q2 2026 Gross Margin (1) GAAP Non-GAAP 54% 56% 54%(2) 40% 43% Q2 2025 Q2 2026 Q2 2025 Q2 2026 Comparable Non-GAAP gross margin(2) was up >200bps y/y driven by higher Data Center revenue mix (1) See Appendices for GAAP to Non-GAAP reconciliation (2) Adjusted Q2’25 results excluded $800 million in inv
Slide 8: Q2 2026 Operating Income
Q2 2026 Operating Income (1) GAAP Non-GAAP $3.1B $2.0B $0.9B(2) ($0.1B) (2) Q2 2025 Q2 2026 Q2 2025 Q2 2026 Record non-GAAP operating income of $3.1 billion driven by higher revenue (1) See Appendices for GAAP to Non-GAAP reconciliation (2) Q2’25 results included $800 million in inventory and relate
Slide 9: Q2 2026 Diluted Earnings Per Share
Q2 2026 Diluted Earnings Per Share (1) GAAP Non-GAAP $1.66 $1.38 $0.43(2) $0.54 $0.48 Q2 2025 Q2 2026 Q2 2025 Q2 2026 Record non-GAAP EPS of $1.66 up 82% y/y on a comparable basis GAAP EPS growth driven by higher revenue and margin expansion driven by higher revenue and margin expansion (1) See Appe
Slide 10: Summary P&L | GAAP
Q2 2026 Summary P&L | GAAP $ in millions, except per share data and % Q2’26 Q2’25(1) Y/Y(1) Q1’26 Q/Q Revenue $11,536 $7,685 Up 50% $10,253 Up 13% Gross Profit $6,203 $3,059 Up 103% $5,416 Up 15% Gross Margin 54% 40% Up 14 ppts 53% Up 1 ppt Operating Expenses $4,213 $3,193 Up 32% $3,940 Up 7% Operat
Slide 11: Summary P&L | Non-GAAP
Q2 2026 Summary P&L | NON-GAAP(1) $ in millions, except per share data and % Q2’26 Q2’25(2) Y/Y(2) Q1’26 Q/Q Revenue $11,536 $7,685 Up 50% $10,253 Up 13% Gross Profit $6,488 $3,326 Up 95% $5,685 Up 14% Gross Margin 56% 43% Up 13 ppts 55% Up 1 ppt Operating Expenses $3,394 $2,429 Up 40% $3,145 Up 8%
Slide 12: Segment Results
Q2 2026 Segment Results $ in millions Q2’26 Q2’25(1) Y/Y(1) Q1’26 Q/Q Data Center Net Revenue 6,718 3,240 Up 107% 5,775 Up 16% Operating Income (Loss) 2,103 (155) Up 1,457% 1,599 Up 32% Client & Gaming Net Revenue 3,841 3,621 Up 6% 3,605 Up 7% Operating Income 582 767 Down 24% 575 Up 1% Embedded Net
Slide 13: Summary Balance Sheet Items
Q2 2026 Summary Balance Sheet Items $ in millions Q2'26 Q1’26 Q/Q Cash, Cash Equivalents and $13,111 $12,347 Up 6% Short-term Investments Accounts Receivable, Net $7,281 $6,035 Up 21% Inventories $8,468 $8,045 Up 5% Total Debt $3,226 $3,224 Flat Record Cash, Cash Equivalents and Short-term Investmen
Slide 14: Data Center Segment
Q2 2026 Data Center Segment Revenue Operating Margin Strategic Highlights $6.7B 31% ▪ Launched broad data center portfolio including the AMD Helios rackscale solution, AMD Instinct MI450 Series GPUs, 6th Gen EPYC CPUs and Pensando Salina and $3.2B Vulcano networking. (5%) (1) ▪ Anthropic and AMD ann
Slide 15: Client and Gaming Segment
Q2 2026 Client and Gaming Segment Revenue Operating Margin Strategic Highlights $3.6B $3.8B 21% Gaming Gaming $0.8B $1.1B 15% Client ▪ Released Ryzen AI Halo systems, bringing Client $3.1B leadership local AI performance and AMD ROCm $2.5B open software to more developers. ▪ Expanded the AMD Ryzen P
Slide 16: Embedded Segment
Q2 2026 Embedded Segment Revenue Operating Margin Strategic Highlights $977M 40% $824M 33% ▪ Introduced AMD Ryzen AI Embedded X100 Series processors, integrating x86 CPU, GPU and AI acceleration to power robotics, industrial automation and intelligent embedded systems. Q2 2025 Q2 2026 Q2 2025 Q2 202
Slide 17: Financial Outlook – Non-GAAP
Financial Outlook – NON-GAAP(1) Q3’26 ~$13 Billion Revenue +/- $300 Million Gross Margin ~56% Operating Expenses ~$3.65 Billion Other Income (Expense) net of Interest Expense ~$55 Million Effective Tax Rate 13% of pre-tax income Diluted Share Count(2) ~1.66 Billion shares (1) See Cautionary Statemen
Slide 18: Summary
Q2 2026 Summary(1) Data Center Revenue $6.7B Up 107% Y/Y Gross Margin 54% Diluted EPS $1.38 Revenue Client & Gaming Revenue $11.5B $3.8B Up 6% Y/Y Non-GAAP Non-GAAP Up 50% Y/Y Gross Margin 56% Diluted EPS $1.66 Embedded Revenue $977M Up 19% Y/Y Record revenue with continued earnings growth and margi
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 | | Q2 2026 FINANCIAL RESULTS – August 4, 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) Q2’26 Q1’26 Q2’25 GAAP gross profit $ 6,203 $ 5,416 $ 3,059 GAAP gross margin 54% 53% 40% Stock-based compensation 8 8 6 Amortization of acquisition-related intangibles 260 261 260 Acquisi
Slide 22: Appendices: Operating Income Reconciliation
Appendices Reconciliation of GAAP Operating Income to Non-GAAP Operating Income $ in millions, except % (Unaudited) Q2’26 Q1’26 Q2’25 GAAP operating income (loss) $ 1,990 $ 1,476 ($134) GAAP operating margin 17% 14% (2%) Stock-based compensation 503 487 369 Amortization of acquisition-related intang
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) Q2’26 Q1’26 Q2’25 GAAP net income / earnings per share $ 2,297 $ 1.38 $ 1,383 $ 0.84 $ 872 $ 0.54 Stock-based compensation 503 0.30 487 0.30 369 0.23 Amortization of
Slide 24: Appendices: Free Cash Flow Reconciliation
Appendices Reconciliation of GAAP Net Cash Provided by Operating Activities of Continuing Operations to Free Cash Flow $ in millions, except % (Unaudited) Q2’26 GAAP net cash provided by operating activities of continuing operations $ 2,366 Operating cash flow margin % from continuing operations 21%
Slide 25: Appendices: Share Count Overview
Appendices Share Count Overview Q2’26 Q3’26 (1) Shares (millions) (Unaudited) Actual Estimate Basic shares 1,632 1,636 Dilutive impact from employee equity grants (2) 27 25 Diluted shares 1,659 1,661 The table above provides actual share count for Q2’26 and an estimate of share count to use when cal
Slide 26: Appendices: Adjusted Non-GAAP Financial Measures
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: | Q2 2026 FINANCIAL RESULTS – August 4, 2026
27 | | Q2 2026 FINANCIAL RESULTS – August 4, 2026