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Sep 27
AMD Q3 2025 Earnings Report
AMD reported record Q3 results with strong revenue, earnings, and profitability growth.
Key Takeaways
AMD delivered record revenue of $9.246 billion and strong profitability in Q3 2025, driven by demand for EPYC CPUs, Ryzen processors, and Instinct AI accelerators. Net income reached $1.243 billion with diluted EPS of $0.75. The company generated $1.53 billion in free cash flow.
Record Q3 revenue of $9.246 billion driven by EPYC, Ryzen, and Instinct product demand.
GAAP Net Income reached $1.243 billion with EPS of $0.75; non-GAAP EPS was $1.20.
Free cash flow hit a record $1.53 billion, with a margin of 17%.
Client and Gaming segments posted a combined $4.048 billion in revenue.
AMD
AMD
AMD Revenue by Segment
Revenue by Segment
Data Center Revenue
CapyFin.comClient Revenue
CapyFin.comGaming Revenue
CapyFin.comEmbedded Revenue
CapyFin.com Forward Guidance
AMD expects Q4 2025 revenue of approximately $9.6 billion (+/- $300 million) and non-GAAP gross margin of 54.5%, with no revenue assumed from MI308 GPU sales to China.
Positive Outlook
- Q4 revenue guided to $9.6B midpoint, up sequentially and YoY.
- Strong growth expected from data center AI business.
- Expanding compute franchise to drive earnings growth.
- Continued investment in high-performance computing.
- Non-GAAP gross margin expected to rise to 54.5%.
Challenges Ahead
- No revenue from MI308 GPU shipments to China in Q4 guidance.
- Export controls remain a risk to data center GPU sales.
- Embedded segment revenue showing YoY decline.
- Margin pressure could arise from increased R&D expenses.
- Ongoing macroeconomic uncertainties could impact demand.
Revenue & Expenses
Visualization of income flow from segment revenue to net income