Advanced Micro Devices, Inc. (AMD) Earnings
Advanced Micro Devices, Inc. is expected to report next earnings on August 4, 2026 (in NaN days), with a consensus EPS estimate of $1.60. AMD has beaten EPS estimates in 8 of its last 12 reported quarters (average surprise +6.4% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 5, 2026 | $1.29 | $1.37 | +6.2% | $10.3B | +3.6% |
| Feb 3, 2026 | $1.32 | $1.53 | +15.9% | $10.3B | +6.2% |
| Nov 4, 2025 | $1.17 | $1.20 | +2.6% | $9.2B | +5.6% |
| Feb 4, 2025 | $1.08 | $1.09 | +0.9% | $7.7B | +1.7% |
| Apr 30, 2024 | $0.62 | $0.62 | +0.6% | $5.5B | -0.1% |
| Jan 30, 2024 | $0.77 | $0.77 | +0.0% | $6.2B | +9.3% |
| Oct 31, 2023 | $0.68 | $0.70 | +2.9% | $5.8B | +8.0% |
| Aug 1, 2023 | $0.57 | $0.58 | +1.8% | $5.4B | +0.9% |
| May 2, 2023 | $0.56 | $0.60 | +7.1% | $5.4B | +1.0% |
| Jan 31, 2023 | $0.66 | $0.69 | +4.5% | $5.6B | +1.6% |
| Nov 1, 2022 | $0.67 | $0.67 | +0.0% | $5.6B | -1.5% |
| Aug 2, 2022 | $1.03 | $1.05 | +1.9% | $6.5B | +0.3% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 5, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
Matt Ramsey welcomed to the call. Lisa Su mentioned strong first - quarter results driven by accelerating AI infrastructure demand. Data center growth led by Epic CPUs and Instinct GPUs. Client and gaming segment had growth with Ryzen processors and Radeon GPUs. Embedded segment saw growth with design win momentum. Jean Hu reviewed financial results, noting revenue of $10.3 billion, growth margin of 55%, operating income of $2.5 billion, etc. Also discussed segment performances including data center, client gaming, and embedded.
Guidance
Expect revenue to be approximately $11.2 billion plus or minus $300 million for second quarter 2026. Data center segment expected to grow strongly in second quarter. Second half PC shipments in client business expected to be lower due to higher memory and component costs.
Segment performance
Data center revenue increased 57% year-over-year to a record $5.8 billion, accounting for approximately 56.3% of total revenue. Client and gaming segment revenue was $3.6 billion, up 23% year-over-year, making up about 34.9% of total revenue. Embedded segment revenue increased 6% year-over-year to $873 million, representing around 8.4% of total revenue.
Risks & headwinds
Tightness in the supply chain, memory and component cost increases which may impact demand in certain segments like gaming in the second half.
Analyst Q&A
Q: Hey, guys. Congrats on the results, and thanks for taking my question. I'm actually going to start with CPUs...
A: Yeah, sure, Josh. Thanks for the question. So first of all, back to when we think about CPU...
Q: Thank you for all the color there. I wanted to ask about the instinct side...
A: Sure, Josh. So, we are very excited about MI450 and Helios...
Q: Hey, guys. Thanks for taking my question. Lisa, if I get your numbers correct here in the March quarter...
A: Yeah, okay. A lot of pieces of that question, Tom, so let me try to get through it...
Q: Hi, thanks for letting me ask a couple questions. The first one is just on the Epic competition...
A: Look, we're very engaged with every major hyperscaler in terms of understanding their needs on the CPU side...
Q: Thanks a lot. I wanted to ask about units versus ASP for server CPU...
A: Yeah, Tim, the way I would say it is, maybe let me bring you back to Q1 for a moment...
Q: Thanks for taking my question. Lisa, do you think agentic CPU growth is incremental or is it coming at the expense of GPUs conceptually...
A: Sure, Vivek. So the way we're thinking about it is it's largely additive to the TAM...
Q: Yeah, thanks for taking the question and congrats on the results. I want to stick on the topic of CPU to GPU...
A: Sure, Aaron. So let me start with the broader question. The broader question, you know, regarding, you know, the way we think about the CPU TAM is...
Q: Yeah, good afternoon. Thank you for taking the question. I guess first question was hoping to speak a bit more about client for all of calendar 26...
A: So CJ, I think the client business has performed really well for us...
Q: Hi, guys. Thanks for taking my questions. For the first one, I just wanted to make sure I have the near - term AI GPU trajectory correct...
A: Yeah, so I think, Stacy, I appreciate the question. I think if you look at the Q1, we did mention data center AI was done modestly sequentially...
Q: Thanks for squeezing me in. Lisa, I just want to go back to the supply side. There was a lot of story about your competitor restarting 7nm...
A: Yeah, Blaine, I don't think we see the older products hanging around longer in our case...
Q: I'm just curious to follow up on Stacy's question on OpEx. I guess I was a little surprised that SG&A is kind of outpacing R&D...
A: I think for the year, you should expect us to grow R&D much faster than SG&A. I think in the past few quarters, we have been really building our go - to - market machine...