โ
๐ ๐๐๐ฌ๐ฎ๐ฅ๐ญ๐ฌ
โข Non-GAAP EPS: $2.09 (Est. $1.94) โ , +74% YoY.
โข Revenue: $13.38B (Est. $13.09B) โ , +45% YoY.
โข GAAP EPS: $1.46, +95% YoY.
โข Non-GAAP Gross Margin: 56%, +200 bps YoY.
โข Non-GAAP Operating Income: $3.92B, +75% YoY.
โข Non-GAAP Operating Margin: 29%, +500 bps YoY.
โข GAAP Net Income: $2.43B, +95% YoY.
โข Non-GAAP Net Income: $3.47B, +77% YoY.
โ
๐ฏ ๐๐ฎ๐ข๐๐๐ง๐๐
โข Q4 Revenue: ~$17.0B ยฑ3% (Est. $16.14B) โ , +66% YoY at midpoint.
โข Q4 Non-GAAP Gross Margin: ~55%.
โข Q4 Revenue Growth: ~27% QoQ at midpoint.
โ
๐ ๐๐๐ฒ ๐๐๐ค๐๐๐ฐ๐๐ฒ๐ฌ
โข Q3 adjusted EPS beat consensus by ~7.7%, while revenue exceeded estimates by ~2.2%.
โข Data Center revenue surged 97% YoY to a record $8.5B, driven by AMD Instinct MI450 GPUs and EPYC processors.
โข Data Center accounted for ~64% of total quarterly revenue.
โข Client & Gaming revenue declined 8% YoY to $3.7B, with Gaming down 40% to $773M.
โข Embedded revenue increased 29% YoY to $1.1B.
โข Q4 revenue guidance midpoint stands ~5.3% above consensus.
โข Non-GAAP operating margin expanded 500 bps YoY to 29%, reflecting strong operating leverage.
โข Anthropic, Meta, Microsoft, OpenAI and Oracle are running workloads on AMD Helios rack-scale solutions.
โข AMD announced agreements to acquire World Labs and Taalas, expanding its AI model research and inference silicon capabilities.
โข AMD expects further growth acceleration as Helios and EPYC Venice production scales in Q4.
โข Q3 GAAP results included a $1.1B warrant liability remeasurement expense related to customer warrants.
โ
๐ฌ ๐๐๐ง๐๐ ๐๐ฆ๐๐ง๐ญ ๐๐จ๐ฆ๐ฆ๐๐ง๐ญ๐๐ซ๐ฒ
โDemand for our Instinct and EPYC products continued to strengthen, and we expect growth to accelerate further in the fourth quarter as we scale Helios and โVeniceโ production.โ