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Advanced Micro Devices (AMD) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · Advanced Micro Devices (AMD) Q3 2026 earnings results →
Q3 2026 Revenue up 45% year over year to $13.4B · 18¢ of every $1 of revenue kept as net profit · operating margin 21.2%
Advanced Micro Devices made $13.4B in Q3 2026 (+45% Y/Y). Operating margin 21.2%, net earnings $2.4B. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $13.4B in Q3 2026, up 45% year over year and up 16% from the previous quarter.
Gross margin was 53.9%, up 2.2 points from Q3 2025. Operating profit was $2.8B, a 21.2% margin (up 7.4 points year over year). Of the extra revenue versus Q3 2025, 38% reached operating profit, above the 14% margin then. Operating expenses grew 25% against revenue growth of 45%. The fastest-growing cost line was Research & development (+31%). Net earnings were $2.4B, up 95% year over year. The effective tax rate was -29.7%.
Operating cash flow was $1.2B (down 44% year over year), 50% of net earnings. Non-cash charges added back $0.52B of share-based compensation. Working capital and other items used $1.7B. Capital expenditures of $0.65B left free cash flow of $0.55B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 4, 2026 | $13.4B | +45% | 21.2% | $2.4B | $1.2B |
| Q2 2026 | 10-Q | Aug 5, 2026 | $11.5B | +50% | 17.3% | $2.3B | $2.4B |
| Q1 2026 | 10-Q | May 6, 2026 | $10.3B | +38% | 14.4% | $1.4B | $3.0B |
| Q4 2025 | 10-K | Feb 4, 2026 | $10.3B | +34% | 17.1% | $1.5B | $2.6B |
| Q3 2025 | 10-Q | Nov 5, 2025 | $9.2B | +36% | 13.7% | $1.2B | $2.2B |
| Q2 2025 | 10-Q | Aug 6, 2025 | $7.7B | +32% | -1.7% | $872M | $2.0B |
| Q1 2025 | 10-Q | May 7, 2025 | $7.4B | +36% | 10.8% | $709M | $939M |
Charts
In supply chains and themes
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Sells to
- U.S. government — 15% of its revenue · Stated in 10-K (sentence) · source
- RGNX · Stated in 10-K (named, share not stated) · source
- HPQ · Stated in 10-K (named, share not stated) · source
- HIVE · Stated in 10-K (named, share not stated) · source
About Advanced Micro Devices
The statements in this report include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations and beliefs and involve numerous risks and uncertainties that could cause actual results to differ materially from expectations. These forward-looking statements speak only as of the date hereof or as of the dates indicated in the statements and should not be relied upon as predictions of future events, as we cannot assure you that the events or circumstances reflected in these statements will be achieved or will occur.
In its own words, from its 10-K, filed Feb 4, 2026.
Advanced Micro Devices against its Semiconductors & Related Devices peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +45% against the peers' median +40%. Operating margin: 21.2% against the peers' median 40.1%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| AMD Advanced Micro Devices | Q3 2026 | $13.4B | +45% | 21.2% |
| NVDA NVIDIA | Q2 FY27 | $96.2B | +106% | 66.2% |
| MU Micron Technology | Q4 FY26 | $54.2B | +379% | 80.7% |
| AVGO Broadcom | Q3 FY26 | $29.6B | +86% | 53.9% |
| INTC Intel | Q3 2026 | $16.5B | +21% | 15.3% |
| AMAT Applied Materials | Q3 FY26 | $9.1B | +25% | 33.7% |
| TXN Texas Instruments | Q3 2026 | $6.1B | +28% | 47.5% |
| ADI Analog Devices | Q3 FY26 | $4.0B | +40% | 40.1% |
| NXPI NXP Semiconductors N.V. | Q3 2026 | $3.8B | +19% | 32.4% |
Source: Advanced Micro Devices 10-Q on SEC EDGAR · CIK 2488 · Semiconductors & Related Devices
Guidance and outlook
13F: who owns AMD and who is buying
More on AMD
- How Advanced Micro Devices makes money: revenue by segment
- Advanced Micro Devices next earnings date and what analysts expect
- Advanced Micro Devices stock forecast, price target and fair value
- Who owns Advanced Micro Devices stock: holders, funds and Congress trades
- Advanced Micro Devices guidance and outlook
- Advanced Micro Devices recalls, complaints and regulation
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Advanced Micro Devices guidance history: guided vs reported
- Advanced Micro Devices gross margin by quarter
- Advanced Micro Devices operating margin by quarter
- Advanced Micro Devices net income by quarter
- Advanced Micro Devices free cash flow by quarter
- Advanced Micro Devices R&D spending by quarter
- Advanced Micro Devices capital expenditures by quarter