AMD reports third-quarter earnings after Intel-driven chip selloff
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The gist
Chipmaker AMD reports fiscal 2026 third-quarter results after Tuesday's market close, with analysts expecting $13.09 billion in revenue.
The report tests whether AI data-center growth can offset a PC downturn.
Background
AMD (Advanced Micro Devices) is a NASDAQ-listed computer processor maker led by CEO Lisa Su, and a long-time rival of Intel in PC semiconductors. It has beaten analyst revenue estimates for 15 straight quarters, and its stock is up 136% year-to-date on AI and data-center demand, at one point passing a $1 trillion market capitalization. The report is drawing attention because Intel's weak performance guidance last week triggered a sharp single-day decline and a brief selloff across the chip supply chain, making AMD's numbers a test of whether AI growth can offset the PC downturn.
How it unfolded
- Feb 3, 2026AMD's fourth-quarter 2025 results topped estimates, but its first-quarter revenue forecast of $9.8 billion, plus or minus $300 million, fell short of some analysts' expectations; the stock fell as much as 8% in extended trading.
- May 5, 2026AMD reported first-quarter 2026 revenue up 38% from $7.44 billion a year earlier, with data-center sales up 57% to $5.8 billion, and guided the second quarter to about $11.2 billion versus $10.52 billion expected.
- Aug 4, 2026AMD's second-quarter 2026 results beat expectations: revenue climbed 50% from $7.69 billion a year earlier, net income was $2.3 billion, or $1.38 per diluted share, and it guided the current quarter to about $13 billion versus LSEG expectations of $12.52 billion.
- Sep 3, 2026AMD's second-quarter 2026 non-GAAP earnings were reported at $1.66 per share, up 246% year over year and beating the Zacks Consensus Estimate by 3.1%; revenue rose 50.1% to $11.54 billion.
- Sep 28, 2026AMD announced an approximately $8.2 billion all-stock agreement to acquire World Labs, with closing expected by year-end subject to approvals and conditions.
- Nov 2, 2026AMD stock fell 11% on Friday and was down 23.3% from all-time highs set in early October, and down 19.5% over the past month versus an 18.8% average decline for processor and graphics chip stocks.
- Nov 3, 2026AMD is scheduled to release its fiscal 2026 third-quarter report after the market close, with an earnings call at 5:00 p.m. ET; shares rose over 2% in pre-market trading, rebounding to around $478.
Who’s saying what
- Analysts
- Consensus expects third-quarter revenue of $13.09 billion and EPS of $1.95, with other previews citing $1.93 to $1.94 EPS on roughly $13.1 billion revenue.
- Official
- AMD guided third-quarter revenue to $13 billion, plus or minus $300 million, with adjusted gross margin of approximately 56% and adjusted operating expenses of approximately $3.65 billion.
- Expert
- Market expert Woods, cited by Benzinga, said "fundamentally, the growth story remains impressive," but noted strong fundamentals haven't necessarily translated into higher stock prices and called the report another important test of investors' willingness to reward that growth.
- Caution
- Intel attributed pressure in the sector to cooling PC demand and rising costs for memory and other components.
Still unverified
One preview's third-quarter outcome scenarios (e.g., $13.50 billion revenue at 56% or 54% margin) are explicitly labeled hypothetical/illustrative; the World Labs acquisition's closing was expected by year-end but remains subject to approvals and conditions.