Q3 24 EPS
$0.92
BEAT +1.10%
Est. $0.91
Q3 24 Revenue
$6.82B
BEAT +1.64%
Est. $6.71B
vs S&P Since Q3 24
+110.5%
BEATING MARKET
AMD +134.8% vs S&P +24.2%
Market Reaction
Did AMD Beat Earnings? Q3 2024 Results
Advanced Micro Devices delivered a solid beat across the board in Q3 2024, posting non-GAAP earnings per share of $0.92 against a consensus estimate of $0.91, a 1.10% beat, while revenue of $6.82 billion topped the $6.71 billion estimate by 1.64% and… Read more Advanced Micro Devices delivered a solid beat across the board in Q3 2024, posting non-GAAP earnings per share of $0.92 against a consensus estimate of $0.91, a 1.10% beat, while revenue of $6.82 billion topped the $6.71 billion estimate by 1.64% and grew 17.6% year-over-year. The headline driver was unmistakable: AMD's Data Center segment generated a record $3.55 billion in revenue, surging 122% year-over-year on the back of accelerating Instinct GPU shipments and strong EPYC CPU demand, and now accounts for more than half of total company revenue. Non-GAAP gross margin expanded three percentage points to 54%, reflecting that favorable mix shift toward higher-margin data center products. Still, some analysts noted that AMD's broader revenue trajectory and AI chip forecasts, while impressive, left Wall Street wanting more conviction relative to peers. Looking ahead, AMD guided Q4 revenue to approximately $7.50 billion, implying roughly 22% year-over-year growth, with management expressing confidence in delivering record annual revenue for 2024.
Key Takeaways
- • Strong ramp of AMD Instinct GPU shipments driving record Data Center revenue
- • Growth in AMD EPYC CPU sales across cloud and enterprise customers
- • Strong demand for Zen 5 AMD Ryzen processors in Client segment
- • Higher Data Center revenue driving gross margin expansion
- • Lower amortization of acquisition-related intangible assets improving GAAP results
AMD YoY Financials
Q3 2024 vs Q3 2023, source: SEC Filings
AMD Revenue by Segment
With YoY comparisons, source: SEC Filings
“We delivered strong third quarter financial results with record revenue led by higher sales of EPYC and Instinct data center products and robust demand for our Ryzen PC processors.”
— Lisa Su, Q3 2024 Earnings Press Release
AMD Earnings Trends
AMD vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
AMD EPS Trend
Earnings per share: estimate vs actual
AMD Revenue Trend
Quarterly revenue: estimate vs actual
AMD Quarterly Results
11 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 BEAT FY | $1.32 | $1.53 | +15.91% | $10.27B | +5.64% |
| FY Full Year | $3.98 | $4.17 | +4.81% | $34.64B | +1.61% |
| Q3 25 BEAT | $1.17 | $1.20 | +2.37% | $9.25B | +5.66% |
| Q2 25 MISS | $0.48 | $0.48 | -0.54% | $7.69B | +3.43% |
| Q1 25 BEAT | $0.93 | $0.96 | +2.83% | $7.44B | +4.47% |
| Q4 24 BEAT FY | $1.09 | $1.09 | +0.00% | $7.66B | +1.73% |
| FY Full Year | $3.32 | $3.31 | -0.35% | $25.79B | +0.51% |
| Q3 24 BEAT | $0.91 | $0.92 | +1.10% | $6.82B | +1.64% |
| Q2 24 BEAT | $0.68 | $0.69 | +1.47% | $5.84B | +1.94% |
| Q1 24 BEAT | $0.61 | $0.62 | +1.64% | $5.47B | +0.26% |
| Q4 23 | $0.71 | — | — | — | — |
| Q3 23 BEAT | $0.64 | $0.70 | +9.37% | $5.80B | +8.01% |
| Q1 23 BEAT | $0.56 | $0.60 | +7.14% | $5.35B | +1.00% |