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Sep 27, 2025
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.
Revenue by Segment
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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