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Advanced Micro Devices (AMD) Q2 FY2026 earnings: revenue $11.5 billion, up 50.1% on the year

Advanced Micro Devices Inc. (AMD) reported revenue of $11.5 billion for Q2 FY2026, the quarter ended 27 June 2026, up 50.1% on the same quarter a year earlier. Net income was $2.3 billion, up 163.4% on the year, and diluted earnings per share $1.38. The figures are the company's own, from the 10-Q it filed with the SEC on 5 August 2026.

Revenue
$11.5 billion
+50.1% on the year · +12.5% on the quarter
Q3 FY2024Q2 FY2026
Operating margin
17.3%
-1.7% a year earlier
Q3 FY2024Q2 FY2026
Net income
$2.3 billion
+163.4% on the year · +66.1% on the quarter
Q3 FY2024Q2 FY2026
Diluted EPS
$1.38
+155.6% on the year · +64.3% on the quarter
Q3 FY2024Q2 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 2 new.

  • Revenue and GAAP earnings rose sharply: Revenue rose 50% year-over-year to $11.5 billion and 13% sequentially. GAAP diluted EPS was $1.38, up from $0.54, and GAAP net income was $2.3 billion.
  • Non-GAAP EPS reached $1.66: Non-GAAP diluted EPS was $1.66, up 246% from $0.48 a year earlier and up 21% from $1.37 in the first quarter.
  • Data Center revenue more than doubled: Data Center segment revenue was $6.7 billion, up 107% year-over-year. Segment operating income was $2.1 billion, compared with a $155 million loss a year earlier.
Read the earnings call summary

Income statement (profit and loss)

$ millionQ2 FY2026Q1 FY2026Q2 FY2025On the quarterOn the yearLast 8 quarters
Revenue11,53610,2537,685+12.5%+50.1%
Cost of revenue5,3334,8374,626+10.3%+15.3%
Gross profit6,2035,4163,059+14.5%+102.8%
Gross margin53.8%52.8%39.8%
Research and development2,5282,3971,894+5.5%+33.5%
Selling, general and administrative1,4011,253991+11.8%+41.4%
Operating income1,9901,476-134+34.8%
Operating margin17.3%14.4%-1.7%
Interest expense37.037.038.00.0%-2.6%
Pre-tax income2,5511,604-74.0+59.0%
Income tax252238-834+5.9%
Effective tax rate9.9%14.8%n/a
Net income2,2971,383872+66.1%+163.4%
Net margin19.9%13.5%11.3%
Diluted EPS$1.38$0.84$0.54+64.3%+155.6%
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ millionQ2 FY2026Q1 FY2026Q2 FY2025On the quarterOn the yearLast 8 quarters
Operating cash flow2,3662,9552,011-19.9%+17.7%
Capital expenditure808389282+107.7%+186.5%
Free cash flow1,5582,5661,729-39.3%-9.9%
Free cash flow margin13.5%25.0%22.5%
Cash from investing-2,850-2,565-2,298
Cash from financing-15.0-350-1,319
Share-based compensation503487369+3.3%+36.3%
Buybacks0.0221478
Diluted shares, weighted1,659m1,650m1,630m+0.5%+1.8%
Shares outstanding at period end1,632m1,630m1,622m+0.1%+0.6%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ millionQ2 FY2026Q1 FY2026Q2 FY2025On the quarterOn the yearLast 8 quarters
Shareholders' equity67,22464,46259,665+4.3%+12.7%
Debt3,2263,2243,218+0.1%+0.2%
Operating lease liabilities1,050647668+62.3%+57.2%
Other liabilities12,96411,30911,269+14.6%+15.0%
Total liabilities and equity84,46479,64274,820+6.1%+12.9%
Fixed assets3,4392,7232,128+26.3%+61.6%
Goodwill25,47025,34425,083+0.5%+1.5%
Intangible assets15,63516,15417,812-3.2%-12.2%
Investments8,0256,7621,425+18.7%+463.2%
Cash and equivalents5,0865,5854,442-8.9%+14.5%
Receivables7,2816,0355,115+20.6%+42.3%
Inventory8,4688,0456,677+5.3%+26.8%
Other assets11,0608,99412,138+23.0%-8.9%
Total assets84,46479,64274,820+6.1%+12.9%

Questions

What was Advanced Micro Devices' revenue in Q2 FY2026?

Advanced Micro Devices (AMD) reported revenue of $11.5 billion for Q2 FY2026, the quarter ended 27 June 2026, up 50.1% on the same quarter a year earlier.

How much did Advanced Micro Devices earn in Q2 FY2026?

Net income for Q2 FY2026 was $2.3 billion, up 163.4% on the year, and diluted earnings per share $1.38.

When did Advanced Micro Devices report Q2 FY2026 results?

Advanced Micro Devices filed its 10-Q for the quarter ended 27 June 2026 with the SEC on 5 August 2026.

Quarterly results, the last 20 quarters

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024 †Q2 FY2024 †Q3 FY2024 †Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue4,8265,8876,5505,5655,5995,3535,3595,8006,1685,4735,8356,8197,6587,4387,6859,24610,27010,25311,53613,377
Cost of revenue2,4003,0693,5223,2113,1962,9942,9163,0533,2572,9132,9713,4003,7763,7024,6264,4664,6934,8375,3336,167
Gross profit2,4262,8183,0282,3542,4032,3592,4432,7472,9112,5602,8643,4193,8823,7363,0594,7805,5775,4166,2037,210
Gross margin50%48%46%42%43%44%46%47%47%47%49%50%51%50%40%52%54%53%54%54%
R&D8111,0601,3001,2791,3661,4111,4431,5071,5111,5251,5831,6361,7121,7281,8942,1392,3302,3972,5282,803
SG&A4125975925575905855475766446076407077928869911,0691,1981,2531,4011,298
Operating income1,207951526-64.0-149-145-20.022434236.0269724871806-1341,2701,7521,4761,9902,832
Operating margin25%16%8%-1%-3%-3%-0%4%6%1%5%11%11%11%-2%14%17%14%17%21%
Interest expense8.013.025.031.019.025.028.026.027.025.025.023.019.020.038.037.036.037.037.062.0
Pre-tax income1,209896497-73.0-136-127-2.025736464.0299737889825-74.01,3152,0741,6042,5511,868
Tax rate19%13%11%n/an/an/an/a-15%-82%-81%14%-4%47%15%n/a12%22%15%10%-30%
Net income97478644766.021.0-13927.02996671232657714827098721,2431,5111,3832,2972,428
Net margin20%13%7%1%0%-3%1%5%11%2%5%11%6%10%11%13%15%13%20%18%
Diluted EPS$0.79$0.56$0.27$0.04$0.01-$0.09$0.02$0.18$0.41$0.07$0.16$0.47$0.29$0.44$0.54$0.75$0.92$0.84$1.38$1.46
Operating cash flow8229951,0389655674863794213815215936281,2999392,0112,1592,6002,9552,3661,202
Capital expenditure86.071.0132123124158125124139142154132208212282258222389808648
Free cash flow7369249068424433282542972423794394961,0917271,7291,9012,3782,5661,558554
Buybacks7581,9149216172502410.05112334.035225025674947889.00.02210.00.0
Shares outstanding1,207m1,620m1,612m1,612m1,612m1,609m1,614m1,615m1,616m1,618m1,618m1,623m1,622m1,616m1,622m1,628m1,630m1,630m1,632m1,640m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 27 June 2026, filed 5 August 2026: the filing.