Data center revenue nearly doubled, and fourth-quarter guidance beat expectations by 5%: AMD’s earnings report is highly impressive
✅ Revenue of about $13.4 billion, up 45% year over year and roughly 2% above market expectations
✅ Adjusted earnings per share of $2.09, up 74% year over year and about 7% above expectations
✅ Record data center revenue of $8.5 billion, up 97% year over year—far above the company’s previous 80% growth guidance
✅ Midpoint of fourth-quarter revenue guidance at about $17 billion, 4–5% above market expectations
⚠️ Gaming revenue of $773 million, down 40% year over year; adjusted gross margin guidance of about 55%, slightly below this quarter’s actual 56%
The figures are from the company’s official earnings release and cross-checked against live reports from The Wall Street Journal and MarketWatch. Data center now accounts for 64% of total revenue, up from just 47% in the same quarter last year. AMD may still be a chip company in name, but in reality it has become a data center company. The gaming business’s 40% decline is a legacy burden, but its scale has become too small to change the big picture.
This is more than a one-off earnings-driven rally: data center’s 64% share of revenue and near-doubling year over year, together with a further 66% rise at the midpoint of fourth-quarter guidance, suggest that demand for AI chips isn’t just a short-lived spike. Over the next two quarters, if data center revenue tops 70% of the total and Helios ramps up as planned, this report will mark the start of a shift in how AMD is valued. Conversely, if data center growth falls below 60% next quarter or guidance weakens for the first quarter of next year, that thesis won’t hold.
The earnings report came out after the market close on Tuesday, U.S. Eastern Time. Tonight’s closing reaction (Wednesday, U.S. Eastern Time) will tell us whether the market believes the guidance. We should wait for tonight’s closing price before weighing in; don’t chase the opening auction.
$AMD #AMD财报 #DataCenter
✅ Revenue of about $13.4 billion, up 45% year over year and roughly 2% above market expectations
✅ Adjusted earnings per share of $2.09, up 74% year over year and about 7% above expectations
✅ Record data center revenue of $8.5 billion, up 97% year over year—far above the company’s previous 80% growth guidance
✅ Midpoint of fourth-quarter revenue guidance at about $17 billion, 4–5% above market expectations
⚠️ Gaming revenue of $773 million, down 40% year over year; adjusted gross margin guidance of about 55%, slightly below this quarter’s actual 56%
The figures are from the company’s official earnings release and cross-checked against live reports from The Wall Street Journal and MarketWatch. Data center now accounts for 64% of total revenue, up from just 47% in the same quarter last year. AMD may still be a chip company in name, but in reality it has become a data center company. The gaming business’s 40% decline is a legacy burden, but its scale has become too small to change the big picture.
This is more than a one-off earnings-driven rally: data center’s 64% share of revenue and near-doubling year over year, together with a further 66% rise at the midpoint of fourth-quarter guidance, suggest that demand for AI chips isn’t just a short-lived spike. Over the next two quarters, if data center revenue tops 70% of the total and Helios ramps up as planned, this report will mark the start of a shift in how AMD is valued. Conversely, if data center growth falls below 60% next quarter or guidance weakens for the first quarter of next year, that thesis won’t hold.
The earnings report came out after the market close on Tuesday, U.S. Eastern Time. Tonight’s closing reaction (Wednesday, U.S. Eastern Time) will tell us whether the market believes the guidance. We should wait for tonight’s closing price before weighing in; don’t chase the opening auction.
$AMD #AMD财报 #DataCenter