TLDR
- AMD stock rose about 7% to $518 in premarket trading Wednesday after closing Tuesday at $483.90.
- Q3 earnings per share were $2.09 and revenue rose 45% to $13.4 billion, both above estimates.
- Data center sales grew 97% to $8.5 billion.
- AMD guided Q4 revenue to $17 billion, above the $16.3 billion analysts expected.
- Lisa Su said 2027 revenue should grow 80% or more.
AMD stock jumped about 7% to $518 in premarket trading Wednesday after a third-quarter report that beat on both lines. It closed Tuesday at $483.90, up 3.65%.
Advanced Micro Devices, Inc., AMD
It had been a bumpy ride. The stock fell nearly 13% last week and dropped another 7.5% on Monday.
Earnings per share came in at $2.09, ahead of the $1.95 to $1.97 analysts expected. Revenue rose 45% from a year ago to $13.4 billion, above the $13.1 billion forecast.
$AMD Q3’26 EARNINGS HIGHLIGHTS
🔹 Revenue: $13.40B (Est. $13.09B) 🟢; +45% YoY
🔹 Adj. EPS: $2.09 (Est. $1.95) 🟢; +74% YoYQ4 Guide:
🔹 Revenue: ~$17B +/- 3% (Est. $16.23B) 🟢
🔹 Non-GAAP Gross Margin: ~55%Segment Net Revenue:
🔹 Data Center: $8.55B; +97% YoY (Est. $8.27B)… pic.twitter.com/MRgKq4srxx— Wall St Engine (@wallstengine) November 3, 2026
The Data Center Engine
Data center sales grew 97% to $8.5 billion, beating the $8.19 billion estimate. A year ago, the unit brought in $4.34 billion.
That segment made up about 63% of total revenue. Wall Street expects it to reach three-quarters within a year.
CEO Lisa Su said demand for Instinct and EPYC products keeps getting stronger. She expects growth to speed up in the fourth quarter as Helios and “Venice” production ramps.
Client sales, which include PCs, hit $2.9 billion, short of the $3.06 billion estimate. Gaming sales fell 40% to $773 million, though that topped the $655 million analysts expected.
A memory and storage shortage is pushing up prices for graphics cards and console chips. That is weighing on demand.
Guidance and the Customer Web
AMD guided fourth-quarter revenue to $17 billion, give or take $500 million. Analysts had pegged it at $16.3 billion.
Su did not give a full 2027 outlook. She did say revenue should grow 80% or more, versus the 77% Wall Street had modeled.
She also said AMD is raising R&D spending across silicon, software and systems. The goal is to support its largest customers’ plans for the next three to five years.
The report landed with funding worries in the background. The Wall Street Journal reported Friday that lenders are getting pickier, and that smaller cloud firms have been shut out of the bond market.
AMD’s own deals tie it closely to its buyers. It issued warrants for up to 160 million units each to OpenAI and Meta, and put $1 billion into Meta’s recent equity sale.
It may invest up to $5 billion in Anthropic as part of a supply deal. It has also guaranteed customer leases of up to $4.1 billion.
Intel’s report last week went the other way. Its stock sank nearly 29% after weak guidance blamed on the PC market.
The iShares Semiconductor ETF (SOXX) rose 2.5% Tuesday and another 1.9% after hours. AMD now sits at $518 ahead of Wednesday’s open.
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