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.
AMD YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
AMD Revenue by Segment
With YoY comparisons, source: SEC Filings
“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
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% |