AMD · Earnings call · 2026Q3T · Full report
Operating Expense Trends
ADVANCED MICRO DEVICES INC · 2026-11-03 · Importance 75 · Surprise 48 · No source text
Third-quarter operating expenses were $3.6 billion, up 29% year over year, as AMD invested in data center silicon, systems, and software capabilities. Fourth-quarter non-GAAP operating expenses were guided to approximately $3.75 billion. Management expects 2027 operating expense growth to be less than half of the company’s revenue growth rate, which it said should support significant operating margin expansion.
Key facts
- AMD Q3 2026 operating expenses were $3.6 billion, up 29% year-over-year, as it continued investing in R&D.
- AMD CFO expected 2027 operating expense growth to be less than half of the top-line revenue growth rate.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | negative | realized | -7.0% | AMD Q3 2026 operating expenses were $3.6 billion, up 29% year-over-year, as it continued investing in R&D. |
| operating_income | positive | committed | — | AMD CFO expected 2027 operating expense growth to be less than half of the top-line revenue growth rate. |