AMD reported record third-quarter 2026 revenue of $13.38 billion on November 3, up 45% from a year earlier and above the $13.09 billion LSEG estimate. Non-GAAP EPS was $2.09 against $1.95 expected. DaAMD reported record third-quarter 2026 revenue of $13.38 billion on November 3, up 45% from a year earlier and above the $13.09 billion LSEG estimate. Non-GAAP EPS was $2.09 against $1.95 expected. Da

AMD Q3 2026 Earnings Results: Data Center Revenue Up 97%, Q4 Guidance Near $17 Billion and Stock Reaction

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Author: James Mitchell

2026/11/04 12:48

AMD reported record third-quarter 2026 revenue of $13.38 billion on November 3, up 45% from a year earlier and above the $13.09 billion LSEG estimate. Non-GAAP EPS was $2.09 against $1.95 expected. Data center revenue nearly doubled to $8.55 billion, and AMD guided fourth-quarter revenue to about $17 billion, which would be about 27% above Q3.

AMD shares closed the regular session at $483.90 and traded as high as $530.38 after hours before ending the extended session at $508.20. The AMDSTOCK_USDT futures on MEXC kept trading after 8:00 p.m. ET and was at 501.24 USDT at 10:00 p.m. ET, up 3.4% from its 4:00 p.m. price.

AMD Q3 2026 Results vs Estimates

Revenue: $13.38 billion vs $13.09 billion (beat), up 45% year over year, per AMD's Q3 2026 earnings release
Non-GAAP EPS: $2.09 vs $1.95 (beat), up 74%; GAAP diluted EPS was $1.46
Data center: $8.55 billion, up 97%
Gross margin: 56% non-GAAP and 54% GAAP, both up 2 percentage points
Q4 guidance: about $17 billion, plus or minus 3%, with non-GAAP gross margin of about 55%

Consensus figures are LSEG estimates reported by CNBC.

Key Takeaways

Data center made up about 64% of Q3 revenue, by our calculation from the segment figures.
The Q4 midpoint implies about 66% growth year over year and 27% growth quarter over quarter.
Gaming revenue fell 40%, and combined Client and Gaming revenue fell 8%.
Inventories rose by about $3.0 billion in the quarter to $11.5 billion.
After AMD's last eight reports, the stock closed lower the next day five times.
AMDSTOCK_USDT turnover in the release hour was 27.5 times its average hourly turnover over the prior 24 hours.

What Stood Out in AMD's Q3 2026 Report?

The quarter beat estimates, but the larger number was the outlook. A Q4 guide of about $17 billion would add roughly $3.6 billion of revenue in one quarter.

AMD tied the growth to demand for EPYC processors and the launch of Instinct MI450 Series GPUs. The company said Anthropic, Meta, Microsoft, OpenAI and Oracle Cloud Infrastructure are running workloads on the first AMD Helios rack-scale systems.

CEO Lisa Su said growth should accelerate as AMD scales Helios and "Venice" production.

The Q4 gross margin guide of about 55% is one point below Q3's 56%.

Data Center, Client, Gaming and Embedded: Q3 2026 Revenue by Segment

Data Center: $8.55 billion, up 97% (record)
Client: $2.9 billion, up 7%, driven by Ryzen mobile processors
Gaming: $773 million, down 40%, on lower semi-custom and graphics revenue
Embedded: $1.1 billion, up 29%

GAAP net income was $2.4 billion. It includes a $1.1 billion non-cash charge from remeasuring warrants issued to customers, which moves with AMD's share price. Non-GAAP results exclude that charge.

What Is AMD's Guidance for Q4 2026?

Revenue of about $17 billion, plus or minus 3%
Midpoint growth of about 66% year over year and 27% quarter over quarter
Non-GAAP gross margin of about 55%

How Does This Compare With AMD's Past Earnings Reactions?

Next-day closing moves after the last four reports, based on Nasdaq price history:

August 2026: -7.0%
May 2026: +18.6%
February 2026: -17.3%
November 2025: +2.5%, after opening 2.7% lower

Across the last eight reports, the stock rose the next day three times and fell five times. The average move was 8.8% in either direction, by our calculation.

After-hours prices can reverse by the next open, as the November 2025 report showed.

How AMD Futures Reacted on MEXC

The AMDSTOCK_USDT perpetual contract on MEXC kept trading after the U.S. extended session closed, so the post-earnings move could be followed into the Asian morning. Figures below come from MEXC's public futures API (hourly candles).

Price: the contract closed the 3:00–4:00 p.m. ET hour at 484.57 USDT. In the release hour it ranged from 475.00 (-2.0%) to 531.63 (+9.7%) and closed at 523.30 (+8.0%). It was at 505.31 (+4.3%) at 8:00 p.m. and 501.24 (+3.4%) at 10:00 p.m. ET.
Turnover: about 7.12 million USDT in the release hour and 0.95 million USDT in the call hour, 27.5 and 3.7 times the average hourly turnover of the prior 24 hours. Turnover from 4:00 to 10:00 p.m. ET totaled about 11.46 million USDT.
Premium to index: hourly closes stayed within about 14 basis points of the index price.
Funding: funding settles every 8 hours. The rate was 0% at each of the last four settlements, including the first after the release at 00:00 UTC on November 4.

The contract's release-hour high was slightly above the stock's after-hours high of $530.38, according to Yahoo Finance one-minute data. By 10:00 p.m. ET it had given back more than half of that hour's gain.

MEXC AMDSTOCK_USDT hourly closes and turnover from 8:00 a.m. to 10:00 p.m. ET on November 3, 2026. Source: MEXC public futures API.

Following AMD Through MEXC

The AMDSTOCK_USDT perpetual contract offers a market to follow AMD around earnings and outside Nasdaq hours. Settled in USDT, it can be traded long or short; see how to trade stock futures on MEXC.

AMD exposure is also available on MEXC spot through AMDON, a tokenized AMD stock. Eligible users can buy U.S.-listed shares through MEXC RealStocks, which works with licensed broker partners.

Perpetual contracts do not give shareholder rights, and they carry funding, leverage and liquidation risk.

FAQ

Did AMD beat earnings expectations in Q3 2026?

Yes. Revenue of $13.38 billion beat the $13.09 billion LSEG estimate, and non-GAAP EPS of $2.09 beat the $1.95 estimate.

What is AMD's Q4 2026 revenue guidance?

About $17 billion, plus or minus 3%, with non-GAAP gross margin of about 55%.

How much did AMD's data center revenue grow?

Data center revenue rose 97% to $8.55 billion, about 64% of total revenue.

Why is AMD's GAAP EPS lower than its non-GAAP EPS?

GAAP results include a $1.1 billion non-cash charge from remeasuring customer warrants. Non-GAAP results exclude it.

How does AMD stock usually react to earnings?

After the last eight reports, AMD fell the next day five times and rose three times, with an average move of 8.8% either way.

How did AMD futures react on MEXC?

AMDSTOCK_USDT rose as much as 9.7% in the release hour and was up 3.4% from its 4:00 p.m. price at 10:00 p.m. ET.

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