AMD · Earnings call · 2026Q3T · Full report

Guidance / Outlook

ADVANCED MICRO DEVICES INC · 2026-11-03 · Importance 100 · Surprise 100 · No source text

AMD guided to fourth-quarter 2026 revenue of approximately $17 billion, plus or minus 3%, representing about 66% year-over-year growth and 27% sequential growth at the midpoint. The sequential outlook includes approximately 50% Data Center growth, a decline of more than 20% in Client and Gaming, and double-digit Embedded growth. For 2027, management expects company revenue growth above 80%, with Data Center revenue exceeding 80% of total revenue and server revenue approximately doubling year over year.

Key facts

AMD guided to Q4 2026 revenue of approximately $17 billion, plus or minus 3%, representing approximately 66% year-over-year growth at the midpoint.
AMD expected Q4 2026 sequential revenue growth of approximately 27%, with data center growth of approximately 50%, client and gaming declining more than 20%, and embedded growing by double digits.
AMD raised its 2027 server revenue outlook to double year-over-year, from its prior expectation of more than 70% growth.
AMD guided to Q4 2026 non-GAAP operating expenses of approximately $3.75 billion.
AMD said its overall company would grow greater than 80% in 2027, with server business approximately doubling from a high 2026 base.
AMD management said 2027 data center AI revenue would significantly more than double, while data center CPU revenue would about double.
AMD said it expected its server CPU business to grow approximately 100% in 2027, driven mostly by higher unit shipments and core count rather than ASP increases.
AMD guided to Q4 2026 non-GAAP gross margin of approximately 55%.

Impact estimates

metric	direction	stage	expected	basis
revenue	positive	committed	+49.8%	AMD guided to Q4 2026 revenue of approximately $17 billion, plus or minus 3%, representing approximately 66% year-over-year growth at the…
revenue	positive	committed	—	AMD said its overall company would grow greater than 80% in 2027, with server business approximately doubling from a high 2026 base.
revenue	positive	committed	—	AMD expected Q4 2026 data center segment revenue growth to accelerate and full-year segment revenue to more than double from 2025.
revenue	negative	probable	—	AMD planned for PC market unit shipments to decline by a double-digit percentage in 2027.
revenue	positive	committed	—	AMD expected revenue to grow more than 80% in 2027, more than twice the long-term financial model presented at its Financial Analyst Day…
margin	positive	committed	—	AMD CFO expected significant operating-margin expansion in 2027, supported by revenue growth exceeding operating expense growth.