Filing Flows › Advanced Micro Devices (AMD) › Q1 2026
Advanced Micro Devices (AMD) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 6, 2026
Advanced Micro Devices (AMD) reported revenue of $10.3B for the first quarter 2026 (Q1 2026), +38% from a year earlier and -0.2% from the quarter before. Operating margin was 14.4%, net earnings $1.4B (13.5% of revenue).
Advanced Micro Devices, Q1 2026: revenue $10.3B (+38% year over year), operating margin 14.4%, net earnings $1.4B, operating cash flow $3.0B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $10.3B | -0.2% | +38% |
| Gross profit | $5.4B | -3% | +45% |
| Operating profit | $1.5B | -16% | +83% |
| Net earnings | $1.4B | -8% | +95% |
| Operating cash flow | $3.0B | +14% | +215% |
| Free cash flow | $2.6B | +8% | +253% |
What changed
Revenue was $10.3B in Q1 2026, up 38% year over year and roughly flat from the previous quarter.
Gross margin was 52.8%, up 2.6 points from Q1 2025. Operating profit was $1.5B, a 14.4% margin (up 3.6 points year over year). Of the extra revenue versus Q1 2025, 24% reached operating profit, above the 11% margin then. Operating expenses grew 34% against revenue growth of 38%. The fastest-growing cost line was SG&A (+41%). Net earnings were $1.4B, up 95% year over year. The effective tax rate was 14.7%.
Operating cash flow was $3.0B (up 215% year over year), 214% of net earnings. Non-cash charges added back $0.49B of share-based compensation. Working capital and other items added $1.1B. Capital expenditures of $0.39B left free cash flow of $2.6B.
Questions
What was Advanced Micro Devices' revenue in the first quarter 2026?
Advanced Micro Devices (AMD) reported revenue of $10.3B for the first quarter 2026 (Q1 2026), +38% from a year earlier and -0.2% from the quarter before.
Was Advanced Micro Devices profitable in the first quarter 2026?
Operating profit was $1.5B (14.4% of revenue) and net earnings $1.4B.