Q3 25 EPS
$1.20
BEAT +2.37%
Est. $1.17
Q3 25 Revenue
$9.25B
BEAT +5.66%
Est. $8.75B
vs S&P Since Q3 25
+45.0%
BEATING MARKET
AMD +51.4% vs S&P +6.4%
Market Reaction
Did AMD Beat Earnings? Q3 2025 Results
AMD delivered a record-breaking third quarter, posting non-GAAP EPS of $1.20 against a consensus estimate of $1.17, a 2.37% beat, while revenue of $9.25 billion topped expectations by 5.66% and surged 35.6% year-over-year, underscoring the company's … Read more AMD delivered a record-breaking third quarter, posting non-GAAP EPS of $1.20 against a consensus estimate of $1.17, a 2.37% beat, while revenue of $9.25 billion topped expectations by 5.66% and surged 35.6% year-over-year, underscoring the company's accelerating momentum in artificial intelligence and high-performance computing. Heading into the print, investors had been watching closely whether AMD could sustain its AI-driven trajectory, and the answer was emphatic: broad demand across Data Center, Client, and Gaming segments all contributed, with the Client and Gaming segment alone posting 73% year-over-year revenue growth to $4.05 billion. Notably, these results excluded any revenue from Instinct MI308 GPU shipments to China under U.S. Export controls, making the outperformance even more striking. Free cash flow reached a record $1.53 billion, and AMD is gaining CPU market share as Intel contends with supply constraints. Looking ahead, AMD guided Q4 revenue to approximately $9.60 billion, implying roughly 25% year-over-year growth, with a non-GAAP gross margin near 54.5%.
Key Takeaways
- • Strong demand for 5th Gen AMD EPYC processors
- • Growing adoption of AMD Instinct MI350 Series GPUs for AI workloads
- • Record Ryzen processor sales driven by richer product mix
- • Higher semi-custom revenue and strong Radeon gaming GPU demand
- • 36% year-over-year revenue growth driven by broad-based demand across Data Center AI, Server, and PC businesses
AMD YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
AMD Revenue by Segment
With YoY comparisons, source: SEC Filings
“We delivered an outstanding quarter, with record revenue and profitability reflecting broad based demand for our high-performance EPYC and Ryzen processors and Instinct AI accelerators.”
— Lisa Su, Q3 2025 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% |