Jun 2026 (Q2 FY26) — Aug 4, 2026
Advanced Micro Devices, Inc. Q2 FY26 — Record Revenue and Data Center Growth
Read the full callAdvanced Micro Devices (AMD) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Advanced Micro Devices earnings: last reported Tue, 4 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 11,536 | +50.1% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 17.3 | +19.0 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 2,297 | +163.4% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
45 of 56 judged targets kept · 39 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| EPYC Venice processors launch | Launch | Mar 2025 | Venice is in production now with every major OEM on track to launch platforms and the leading cloud providers planning deployments beginning later this year. | Achieved |
| Non-GAAP operating expenses | approximately $3.3 billion | Mar 2026 | Operating expenses were $3.4 billion, an increase of 40% year-over-year as we continue to invest in R&D to expand our AI silicon systems and software capabilities to support our long-term growth opportunities. | Missed |
| AI business annual revenue | tens of billions | Sep 2025 | The data center AI TAM is certainly larger. And as a result, as we ramp the large strategic customers that we have on Helios in 2027, you would expect substantial growth in that business in 2027. | On Track |
11 of ADVANCED MICRO DEVICES INC's 95 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 92 more targets are in the full ledger.
Claimed
- Achieved record revenue of $11.5 billion, representing a 50% year-over-year increase.
- Data Center revenue more than doubled year-over-year to a record $6.7 billion, now comprising 58% of total revenue.
- Diluted earnings per share increased approximately 82% year-over-year on a comparable basis.
- Gross margin expanded to 56%, up over 200 basis points year-over-year.
- Server CPU revenue grew over 70% year-over-year in both cloud and enterprise, with record sell-through.
Qualified
- Gaming revenue declined 31% year-over-year to $779 million, primarily due to lower semi-custom sales and higher component costs.
- A softer PC market is anticipated in the second half of 2026 due to higher memory and component costs weighing on demand.
- Client and Gaming segment operating income decreased to $582 million (15% of revenue) compared to $767 million (21%) a year ago.
Price
$538.05 +1.76% · +$9.3
Performance +130.8% 1Y
1Y: $233.08 on 17 Oct 2025 → $538.05. High $649.42 (6 Oct 2026), low $190.95 (3 Mar 2026).
- Previous close
- $528.75
- 52-week range
- $190.95 – $649.42
- One year
- +123.67%
Overview
- Symbol
- AMD
- Sector
- Information Technology
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
45 of 56 judged targets kept · 39 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| EPYC Venice processors launch | Launch | Mar 2025 | Venice is in production now with every major OEM on track to launch platforms and the leading cloud providers planning deployments beginning later this year. | Achieved |
| Non-GAAP operating expenses | approximately $3.3 billion | Mar 2026 | Operating expenses were $3.4 billion, an increase of 40% year-over-year as we continue to invest in R&D to expand our AI silicon systems and software capabilities to support our long-term growth opportunities. | Missed |
| AI business annual revenue | tens of billions | Sep 2025 | The data center AI TAM is certainly larger. And as a result, as we ramp the large strategic customers that we have on Helios in 2027, you would expect substantial growth in that business in 2027. | On Track |
Claimed
- Achieved record revenue of $11.5 billion, representing a 50% year-over-year increase.
- Data Center revenue more than doubled year-over-year to a record $6.7 billion, now comprising 58% of total revenue.
- Diluted earnings per share increased approximately 82% year-over-year on a comparable basis.
- Gross margin expanded to 56%, up over 200 basis points year-over-year.
- Server CPU revenue grew over 70% year-over-year in both cloud and enterprise, with record sell-through.
Qualified
- Gaming revenue declined 31% year-over-year to $779 million, primarily due to lower semi-custom sales and higher component costs.
- A softer PC market is anticipated in the second half of 2026 due to higher memory and component costs weighing on demand.
- Client and Gaming segment operating income decreased to $582 million (15% of revenue) compared to $767 million (21%) a year ago.
The full ledger
Open ADVANCED MICRO DEVICES INC’s full ledger
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Call summaries
Mar 2026 (Q1 FY26) — May 5, 2026
AMD Q1 FY26 — Data-center-led inflection as agentic AI drives 38% revenue growth and record FCF
Read the full callDec 2025 (Q4 FY25) — Feb 3, 2026
Advanced Micro Devices, Inc. Q4 FY25 — Record Revenue and Strong AI Momentum
Read the full callEvery analysed call
Advanced Micro Devices earnings calls (AMD)
Financials
What the filings say
Net profit, year on year: +163% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 6,819 | 7,658 | 7,438 | 7,685 | 9,246 | 10,270 | 10,253 | 11,536 |
| Expenses | 6,095 | — | 6,632 | 7,819 | 7,976 | — | 8,777 | 9,546 |
| Operating profit | 724 | 871 | 806 | -134 | 1,270 | 1,752 | 1,476 | 1,990 |
| Operating margin | 10.6% | 11.4% | 10.8% | −1.7% | 13.7% | 17.1% | 14.4% | 17.3% |
| Interest | 23 | 19 | 20 | 38 | 37 | 36 | 37 | 37 |
| Profit before tax | 737 | 889 | 825 | -74 | 1,315 | 2,074 | 1,604 | 2,551 |
| Tax rate | −3.7% | 47.1% | 14.9% | 1127.0% | 11.6% | 21.9% | 14.8% | 9.9% |
| Net profit | 771 | 482 | 709 | 872 | 1,243 | 1,511 | 1,383 | 2,297 |
| EPS ($ per share) | 0.48 | — | 0.44 | 0.54 | 0.76 | — | 0.85 | 1.40 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Equity capital | 10 | 12 | 12 | 12 | 16 | 17 | 17 | 17 |
| Reserves | -7,436 | -7,095 | -4,605 | -1,451 | -131 | 723 | 2,364 | 6,699 |
| Total liabilities | 3,290 | 3,201 | 3,125 | 4,922 | 12,830 | 11,993 | 11,658 | 13,927 |
| Fixed assets | 348 | 500 | 641 | 702 | 1,513 | 1,589 | 1,802 | 2,312 |
| Investments | 78 | 37 | 695 | 1,073 | 1,020 | 1,840 | 1,345 | 5,013 |
| Total assets | 4,556 | 6,028 | 8,962 | 12,419 | 67,580 | 67,885 | 69,226 | 76,926 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 34 | 493 | 1,071 | 3,521 | 3,565 | 1,667 | 3,041 | 7,709 |
| Cash from investing | -170 | -149 | -952 | 686 | 1,999 | -1,423 | -1,101 | -5,533 |
| Cash from financing | 28 | 43 | 6 | 1,895 | -3,264 | -1,146 | -2,062 | -431 |
| Net cash flow | -108 | 387 | 125 | 940 | 2,300 | -902 | -122 | 1,745 |
| Capital expenditure | -163 | -217 | -294 | -301 | -450 | -546 | -636 | -974 |
| Free cash flow | -129 | 276 | 777 | 3,220 | 3,115 | 1,121 | 2,405 | 6,735 |
AMD revenue by segment
Data Center grew from 7% to 58% of revenue over the last two years.
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Data Center | 7% | — | 49% | 42% | 47% | — | 56% | 58% | +107.3% |
| Client and Gaming | — | — | 40% | 47% | 44% | 38% | 35% | 33% | +6.1% |
| Embedded | 14% | 12% | 11% | 11% | 9% | 9% | 9% | 8% | +18.6% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
AMD operating KPIs by quarter
| KPI | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| EPYC-powered cloud instances | 1,600+EPYC-powered cloud instances increased nearly 50% year-over-year to more than 1,600 with instances optimized for virtually every enterprise workload and expanded availability across the largest global cloud providers.Source: earnings call transcript | 1,600+Fifth-gen EPYC Turin now powers nearly 1/3 of the more than 1,600 EPYC public cloud instance types available globally as providers broaden their offerings with new database storage and AI workloads.Source: earnings call transcript | — |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Insider filings
305 filings between Nov 14, 2025 and Sep 15, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$368.75M
212 sales by 7 insiders
97% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 41
- Option exercise — converted options into shares
- 32
- Tax withheld — shares kept back by the company to cover tax
Also filed: 19 gifts, 1 other.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Su Lisa T | — | $239.22M | Sep 10, 2026 |
| Papermaster Mark D | — | $51.75M | Aug 20, 2026 |
| Norrod Forrest Eugene | — | $33.71M | Sep 15, 2026 |
| GRASBY PAUL DARREN | — | $22.28M | Aug 17, 2026 |
| Hu Jean X. | — | $14.18M | Aug 25, 2026 |
| Denzel Nora | — | $5.45M | Jun 2, 2026 |
| Hahn Ava | — | $2.16M | Aug 18, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 15, 2026 | Norrod Forrest Eugene EVP & GM DSG | Sale 10b5-1 plan | 726 | $367.3K |
| Sep 15, 2026 | Norrod Forrest Eugene EVP & GM DSG | Sale 10b5-1 plan | 1,655 | $830.3K |
| Sep 15, 2026 | Norrod Forrest Eugene EVP & GM DSG | Option exercise 10b5-1 plan | 7,261 | $616.1K |
| Sep 15, 2026 | Norrod Forrest Eugene EVP & GM DSG | Sale 10b5-1 plan | 2,225 | $1.12M |
| Sep 15, 2026 | Norrod Forrest Eugene EVP & GM DSG | Sale 10b5-1 plan | 5,878 | $2.95M |
| Sep 15, 2026 | Norrod Forrest Eugene EVP & GM DSG | Sale 10b5-1 plan | 1,017 | $509.2K |
| Sep 15, 2026 | Norrod Forrest Eugene EVP & GM DSG | Sale 10b5-1 plan | 4,604 | $2.32M |
| Sep 15, 2026 | Norrod Forrest Eugene EVP & GM DSG | Sale 10b5-1 plan | 757 | $377.2K |
| Sep 15, 2026 | Norrod Forrest Eugene EVP & GM DSG | Sale 10b5-1 plan | 299 | $151.6K |
| Sep 15, 2026 | Norrod Forrest Eugene EVP & GM DSG | Sale 10b5-1 plan | 100 | $49.9K |
| Sep 10, 2026 | Su Lisa T Chair, President & CEO | Sale 10b5-1 plan | 4,600 | $2.32M |
| Sep 10, 2026 | Su Lisa T Chair, President & CEO | Sale 10b5-1 plan | 5,896 | $2.97M |
| Sep 10, 2026 | Su Lisa T Chair, President & CEO | Sale 10b5-1 plan | 3,288 | $1.67M |
| Sep 10, 2026 | Su Lisa T Chair, President & CEO | Sale 10b5-1 plan | 4,200 | $2.13M |
| Sep 10, 2026 | Su Lisa T Chair, President & CEO | Sale 10b5-1 plan | 12,982 | $6.56M |
| Sep 10, 2026 | Su Lisa T Chair, President & CEO | Sale 10b5-1 plan | 13,123 | $6.62M |
| Sep 10, 2026 | Su Lisa T Chair, President & CEO | Sale 10b5-1 plan | 10,524 | $5.33M |
| Sep 10, 2026 | Su Lisa T Chair, President & CEO | Sale 10b5-1 plan | 2,100 | $1.07M |
| Sep 10, 2026 | Su Lisa T Chair, President & CEO | Gift 10b5-1 plan | 35,000 | $0 |
| Sep 10, 2026 | Su Lisa T Chair, President & CEO | Sale 10b5-1 plan | 7,962 | $4.05M |
| Sep 10, 2026 | Su Lisa T Chair, President & CEO | Sale 10b5-1 plan | 500 | $255.5K |
| Sep 10, 2026 | Su Lisa T Chair, President & CEO | Sale 10b5-1 plan | 8,343 | $4.25M |
| Sep 10, 2026 | Su Lisa T Chair, President & CEO | Sale 10b5-1 plan | 2,106 | $1.07M |
| Sep 10, 2026 | Su Lisa T Chair, President & CEO | Sale 10b5-1 plan | 3,500 | $1.78M |
| Sep 10, 2026 | Su Lisa T Chair, President & CEO | Sale 10b5-1 plan | 2,106 | $1.06M |
| Sep 10, 2026 | Su Lisa T Chair, President & CEO | Sale 10b5-1 plan | 100 | $51.6K |
| Sep 10, 2026 | Su Lisa T Chair, President & CEO | Sale 10b5-1 plan | 300 | $153.4K |
| Sep 10, 2026 | Su Lisa T Chair, President & CEO | Sale 10b5-1 plan | 100 | $51.3K |
| Sep 10, 2026 | Su Lisa T Chair, President & CEO | Sale 10b5-1 plan | 200 | $102.5K |
| Sep 10, 2026 | Su Lisa T Chair, President & CEO | Sale 10b5-1 plan | 4,400 | $2.22M |
| Sep 10, 2026 | Su Lisa T Chair, President & CEO | Sale 10b5-1 plan | 400 | $205.6K |
| Sep 10, 2026 | Su Lisa T Chair, President & CEO | Sale 10b5-1 plan | 8,070 | $4.10M |
| Sep 10, 2026 | Su Lisa T Chair, President & CEO | Sale 10b5-1 plan | 200 | $102.7K |
| Aug 25, 2026 | Hu Jean X. EVP, CFO and Treasurer | Sale 10b5-1 plan | 2,327 | $1.10M |
| Aug 25, 2026 | Hu Jean X. EVP, CFO and Treasurer | Sale 10b5-1 plan | 3,831 | $1.82M |
| Aug 25, 2026 | Hu Jean X. EVP, CFO and Treasurer | Sale 10b5-1 plan | 2,513 | $1.19M |
| Aug 25, 2026 | Hu Jean X. EVP, CFO and Treasurer | Sale 10b5-1 plan | 1,429 | $679.8K |
| Aug 25, 2026 | Hu Jean X. EVP, CFO and Treasurer | Sale 10b5-1 plan | 900 | $423.1K |
| Aug 25, 2026 | Hu Jean X. EVP, CFO and Treasurer | Sale 10b5-1 plan | 800 | $376.9K |
| Aug 25, 2026 | Hu Jean X. EVP, CFO and Treasurer | Sale 10b5-1 plan | 3,100 | $1.48M |
| Aug 25, 2026 | Hu Jean X. EVP, CFO and Treasurer | Sale 10b5-1 plan | 100 | $47.8K |
| Aug 24, 2026 | Norrod Forrest Eugene EVP & GM DSG | Sale 10b5-1 plan | 400 | $183.3K |
| Aug 24, 2026 | Norrod Forrest Eugene EVP & GM DSG | Sale 10b5-1 plan | 1,182 | $536.8K |
| Aug 24, 2026 | Norrod Forrest Eugene EVP & GM DSG | Sale 10b5-1 plan | 2,589 | $1.21M |
| Aug 24, 2026 | Norrod Forrest Eugene EVP & GM DSG | Sale 10b5-1 plan | 600 | $279.8K |
| Aug 24, 2026 | Norrod Forrest Eugene EVP & GM DSG | Sale 10b5-1 plan | 1,904 | $871.0K |
| Aug 24, 2026 | Norrod Forrest Eugene EVP & GM DSG | Option exercise 10b5-1 plan | 7,261 | $616.1K |
| Aug 24, 2026 | Norrod Forrest Eugene EVP & GM DSG | Sale 10b5-1 plan | 1,455 | $677.2K |
| Aug 24, 2026 | Norrod Forrest Eugene EVP & GM DSG | Sale 10b5-1 plan | 321 | $149.0K |
| Aug 24, 2026 | Norrod Forrest Eugene EVP & GM DSG | Sale 10b5-1 plan | 2,312 | $1.06M |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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