Advanced Micro Devices, Inc. (AMD) announced financial results for the first quarter of 2026.First quarter revenue was $10.3 billion, gross margin was 53%, operating income was $1.5 billion, net income was $1.4 billion and diluted earnings per share was $0.84. On a non-GAAP^(*) basis, gross margin was 55%, operating income was $2.5 billion, net income was $2.3 billion and diluted earnings per share was $1.37.

“We delivered an outstanding first quarter, driven by accelerating demand for AI infrastructure, with Data Center now the primary driver of our revenue and earnings growth,” said Dr. Lisa Su, chair and CEO, AMD. “We are seeing strong momentum as inferencing and agentic AI drive increasing demand for high-performance CPUs and accelerators. Looking ahead, we expect server growth to accelerate meaningfully as we scale supply to meet demand. Customer engagement around MI450 Series and Helios is strengthening, with leading customer forecasts exceeding our initial expectations and a growing pipeline of large-scale deployments providing us with increasing visibility into our growth trajectory.”

“First quarter results reflect strong performance across all key financial metrics, with accelerating revenue growth, earnings expansion and record quarterly free cash flow,” said Jean Hu, EVP, CFO and treasurer, AMD. “These results highlight continued momentum and execution across the business, demonstrating the leverage in our operating model as we invest for accelerated growth while expanding profitability.”

Quarterly Financial Results

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Segment Summary

• Data Center segment revenue was $5.8 billion, up 57% YoY, driven by strong demand for AMD EPYC processors and the continued ramp of AMD Instinct GPU shipments
• Client and Gaming segment revenue was $3.6 billion, up 23% YoY. Client business revenue was $2.9 billion, up 26% YoY, primarily driven by strong demand for leadership AMD Ryzen processors and continued market share gains. Gaming business revenue was $720 million, up 11% YoY, driven by solid demand for AMD Radeon GPUs partially offset by lower semi-custom revenue
• Embedded segment revenue was $873 million, up 6% YoY, as demand strengthened across several end markets

Current Outlook
AMD’s outlook statements are based on current expectations. The following statements are forward-looking and actual results could differ materially depending on market conditions and the factors set forth under “Cautionary Statement” below.

For the second quarter of 2026, AMD expects revenue to be approximately $11.2 billion, plus or minus $300 million. The mid-point of the revenue range represents year-over-year growth of approximately 46% and a sequential increase of approximately 9%. Non-GAAP gross margin is expected to be approximately 56%.

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