AMD Reports First Quarter 2026 Financial Results

AMD today announced financial results for the first quarter of 2026. First quarter revenue was $10.3 billion, gross margin was 53%, operating income was $1.5 billion, net income was $1.4 billion and diluted earnings per share was $0.84. On a non-GAAP(*) basis, gross margin was 55%, operating income was $2.5 billion, net income was $2.3 billion and diluted earnings per share was $1.37.

“We delivered an outstanding first quarter, driven by accelerating demand for AI infrastructure, with Data Center now the primary driver of our revenue and earnings growth,” said Dr. Lisa Su, AMD chair and CEO. “We are seeing strong momentum as inferencing and agentic AI drive increasing demand for high-performance CPUs and accelerators. Looking ahead, we expect server growth to accelerate meaningfully as we scale supply to meet demand. Customer engagement around MI450 Series and Helios is strengthening, with leading customer forecasts exceeding our initial expectations and a growing pipeline of large-scale deployments providing us with increasing visibility into our growth trajectory.”

“First quarter results reflect strong performance across all key financial metrics, with accelerating revenue growth, earnings expansion and record quarterly free cash flow,” said Jean Hu, AMD executive vice president, CFO and treasurer. “These results highlight continued momentum and execution across the business, demonstrating the leverage in our operating model as we invest for accelerated growth while expanding profitability.”

Segment Summary

• Data Center segment revenue was $5.8 billion, up 57% year-over-year, driven by strong demand for AMD EPYC processors and the continued ramp of AMD Instinct GPU shipments.
• Client and Gaming segment revenue was $3.6 billion, up 23% year-over-year. Client business revenue was $2.9 billion, up 26% year-over-year, primarily driven by strong demand for leadership AMD Ryzen processors and continued market share gains. Gaming business revenue was $720 million, up 11% year-over-year, driven by solid demand for AMD Radeon GPUs partially offset by lower semi-custom revenue.
• Embedded segment revenue was $873 million, up 6% year-over-year, as demand strengthened across several end markets.

Recent PR Highlights
AMD expanded its data center offerings and deepened strategic collaborations to deliver global compute infrastructure:

• Meta and AMD announced plans to deploy up to 6 gigawatts of AMD Instinct GPUs, with the first 1-GW to be powered by a custom AMD Instinct MI450-based GPU. Meta will also be a lead customer for the upcoming 6th Gen AMD EPYC CPUs, codenamed “Venice” and “Verano.”
• AWS, Google Cloud, Microsoft Azure and Tencent announced new and expanded 5th Gen EPYC-powered cloud instances, including Google Cloud H4D VMs for HPC and Azure instances across general-purpose, memory- and compute-optimized workloads.
• In the latest MLPerf results, AMD Instinct MI355X delivered strong competitive performance across the full suite, with leadership results in multiple categories.
• AMD announced EPYC 8005 server CPUs, delivering leadership performance per-watt-per-dollar optimized for telecommunications and edge environments.
• AMD and Tata Consultancy Services (TCS) are co-developing AMD Helios-based rack-scale AI infrastructure to accelerate enterprise AI deployments and sovereign AI initiatives in India.
• AMD and Samsung are collaborating on next-generation AI memory and compute technologies, including HBM4 supply for AMD Instinct MI455X GPUs and advanced DRAM solutions for 6th Gen AMD EPYC CPUs.
• AMD is collaborating with NAVER Cloud and Upstage to deploy AMD Instinct GPUs and EPYC CPUs across their AI infrastructure, advancing sovereign AI initiatives in Korea.
• AMD joined Open Telco AI, a GSMA-led initiative to accelerate telco-grade AI models and systems, with AMD Instinct GPUs training Open Telco AI models.

AMD expanded its offerings for premium enterprise and enthusiast PCs, including:

• The AMD Ryzen AI PRO 400 Series processors, expanding its lineup of next-generation enterprise desktop PCs that deliver Copilot+ experiences.
• The Ryzen 9950X3D2 Dual Edition processor, delivering enhanced performance for creative and developer workloads with dual stacks of AMD 3D V-Cache technology.

AMD announced new adaptive and embedded AI processors, including:

• New Ryzen AI Embedded P100 Series processors, delivering scalable, power-efficient AI compute for industrial and edge applications.
• The Kintex UltraScale+ Gen 2 family of mid-range FPGAs, delivering advanced memory bandwidth and I/O performance for industrial, imaging and broadcast applications.

Current Outlook
AMD’s outlook statements are based on current expectations. The following statements are forward-looking and actual results could differ materially depending on market conditions and the factors set forth under “Cautionary Statement” below.

For the second quarter of 2026, AMD expects revenue to be approximately $11.2 billion, plus or minus $300 million. The mid-point of the revenue range represents year-over-year growth of approximately 46% and a sequential increase of approximately 9%. Non-GAAP gross margin is expected to be approximately 56%.

AMD Teleconference

AMD will hold a conference call at 2:00 p.m. PT (5:00 p.m. ET) today to discuss its first quarter 2026 financial results. AMD will provide a real-time audio broadcast of the teleconference on the Investor Relations page of its website at www.amd.com.