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AMD

AMD Q4 2025 Earnings

Reported Feb 3, 2026 at 4:16 PM ET · SEC Source

Q4 25 EPS

$1.53

BEAT +15.91%

Est. $1.32

Q4 25 Revenue

$10.27B

BEAT +5.64%

Est. $9.72B

vs S&P Since Q4 25

+57.0%

BEATING MARKET

AMD +62.0% vs S&P +5.0%

Full Year 2025 Results

FY 25 EPS

$4.17

BEAT +4.81%

Est. $3.98

FY 25 Revenue

$34.64B

BEAT +1.61%

Est. $34.09B

Market Reaction

Did AMD Beat Earnings? Q4 2025 Results

Advanced Micro Devices delivered a standout fourth quarter, putting investor speculation to rest with earnings per share of $1.53 against a consensus estimate of $1.32, a beat of 15.91%, while revenue of $10.27 billion topped the $9.72 billion estima… Read more Advanced Micro Devices delivered a standout fourth quarter, putting investor speculation to rest with earnings per share of $1.53 against a consensus estimate of $1.32, a beat of 15.91%, while revenue of $10.27 billion topped the $9.72 billion estimate by 5.64% and climbed 34.1% year-over-year. The single most powerful driver behind the quarter was the Data Center segment, which generated record revenue of $5.38 billion, up 39% year-over-year on surging demand for EPYC server processors and continued Instinct GPU shipments. Results did include a notable tailwind from the release of approximately $360 million in previously reserved MI308 inventory charges, with non-GAAP gross margin coming in at 57%, though AMD noted the underlying figure would have been closer to 55% absent those items. Free cash flow hit a record $2.08 billion in the quarter. Looking ahead, AMD guided Q1 2026 revenue of approximately $9.80 billion, implying roughly 32% year-over-year growth, with non-GAAP gross margin expected at approximately 55%.

Key Takeaways

  • • Strong demand for AMD EPYC server processors
  • • Continued ramp of AMD Instinct GPU shipments
  • • Record Client business revenue from Ryzen processor demand and market share gains
  • • Higher semi-custom revenue and strong Radeon GPU demand in Gaming
  • • Approximately $360 million release of previously reserved MI308 inventory and related charges
  • • Approximately $390 million in AMD Instinct MI308 revenue to China

AMD Forward Guidance & Outlook

For Q1 2026, AMD expects revenue of approximately $9.8 billion, plus or minus $300 million, including approximately $100 million of AMD Instinct MI308 sales to China. The mid-point represents year-over-year growth of approximately 32% and a sequential decline of approximately 5%. Non-GAAP gross margin is expected to be approximately 55%. Non-GAAP operating expenses are expected to be approximately $3.05 billion. Interest expense/other income (expense), net is expected to be approximately $35 million. Non-GAAP effective tax rate is expected to be approximately 13%. Diluted share count is estimated at approximately 1.65 billion shares.

24/7 Wall St

AMD YoY Financials

Q4 2025 vs Q4 2024, source: SEC Filings

24/7 Wall St

AMD Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 24 Q4 25

“2025 was a defining year for AMD, with record revenue and earnings driven by strong execution and broad-based demand for our high-performance and AI platforms.”

— Lisa Su, Q4 2025 Earnings Press Release

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