AMD beats Q3 estimates and guides Q4 revenue to ~$17B; shares jump after hours (Nov 3)
What happened
Advanced Micro Devices reported third-quarter 2026 results after the close on Tuesday, November 3, beating Wall Street expectations across the board and issuing above-consensus guidance. Q3 revenue rose 45% year over year to a record $13.38 billion vs ~$13.1 billion expected; non-GAAP EPS was $2.09 vs $1.95 expected (+74% YoY); non-GAAP operating income jumped 75% to $3.9 billion. Data-center revenue nearly doubled to a record $8.55 billion (+97% YoY), now 64% of total sales, beating the $8.2 billion consensus. The one soft spot: client and gaming revenue fell 8% to $3.72 billion (gaming down 40%). For Q4, AMD guided revenue to ~$17 billion (plus/minus 3%), implying ~66% YoY growth — well above the ~$16.23 billion consensus — with non-GAAP gross margin of ~55%. Shares rose roughly 7–8.5% in after-hours trading to about $517.
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Start your free 14-day trialWho’s affected
- AMD (directly — beat + raise), NVDA/AVGO/MU and the SOX index (AI-semiconductor read-through; chips had just suffered a 3-day selloff), hyperscalers buying AI silicon (AMZN, MSFT, GOOGL, META, OpenAI — validates AI capex demand), Intel (rival, further competitive pressure as AMD's data-center revenue nearly doubled)