AMD's third-quarter report was the first big test of the AI chip trade since Intel's warning the week before. The stock had more than doubled this year by October 29, as AMD's data center sales rose 107% from a year earlier and Meta, OpenAI and others signed up for its AI chips (source: AMD, August 4, 2026).
Then it fell 10.9% on October 30 and another 7.5% on November 2, to $466.84, after Intel's weak forecast hit chip stocks (source: Yahoo Finance, AMD price history). Results beat forecasts, AMD's December-quarter guide came in above them too, and the shares rose after hours.
AMD Q3 2026 results
AMD beat forecasts on sales and profit, and its December-quarter guide came in well above expectations. Adjusted earnings per share (EPS) were $2.09, and revenue rose 45% to a record $13.4 billion (source: AMD, Q3 2026 release). The Bloomberg consensus was $1.97 and $13.1 billion (source: Yahoo Finance, November 3, 2026). Revenue passed $13.3 billion, the top of AMD's own range. The $377 million beat of the midpoint was a little bigger than June's $340 million.
Q3 2026 actual | Forecast or year earlier | |
|---|---|---|
Revenue | $13.4 billion, up 45% | About $13.0 billion, ± $0.3 billion (AMD); $13.1 billion (Bloomberg) |
Adjusted EPS | $2.09, up 74% | $1.97 (Bloomberg); $1.94 (source: Earnings Whispers via Finviz, October 26, 2026); $1.68 (source: Nasdaq, AMD earnings forecast) |
Adjusted gross margin | 56% (source: AMD, Q3 2026 release) | About 56% (AMD) |
Data center revenue | $8.5 billion, up 97% (source: AMD, Q3 2026 release) | $4.3 billion a year earlier (source: AMD, Q3 2026 release) |
Client revenue | $2.9 billion, up 7% (source: AMD, Q3 2026 release) | $2.75 billion a year earlier |
Gaming revenue | $773 million, down 40% | $1.3 billion a year earlier |
Embedded revenue | $1.1 billion, up 29% | $857 million a year earlier |
Actual and year-earlier figures come from AMD's release (source: AMD, Q3 2026 release). Data center made up 64% of revenue, up from 47% a year earlier (source: StockAnalysis, AMD Q3 2026 call transcript).
The outlook was the bigger surprise. AMD guided December-quarter revenue to about $17 billion, plus or minus 3%, which it said would mean growth of about 66% from a year earlier (source: AMD, Q3 2026 release). The consensus had been $16.2 billion, below the bottom of that range (source: Investing.com, November 3, 2026). AMD guided adjusted gross margin to about 55%, a point below September's 56%. On the call, chief financial officer Jean Hu said data center revenue should grow about 50% from the September quarter, while client and gaming should fall more than 20% (source: StockAnalysis, AMD Q3 2026 call transcript).
Chief executive Lisa Su also looked further out. She said AMD expects revenue to grow more than 80% in 2027, with server revenue doubling and data center reaching more than 80% of sales (source: StockAnalysis, AMD Q3 2026 call transcript). She added that demand is higher than supply, and that AMD is planning for PC market shipments to fall by a double-digit percentage in 2027 (source: StockAnalysis, AMD Q3 2026 call transcript).
The other points traders were watching came out mixed. Su said production of Helios, a full server rack of AMD's MI450 AI chips sold as one system, ramped up as planned, with Anthropic, Meta, Microsoft, OpenAI and Oracle bringing their first racks online. Server sales to cloud and enterprise customers each more than doubled. The 56% margin held. Intel's PC warning did show up, though: client revenue fell 4% from June, and AMD said PC sales to end buyers slowed late in the quarter as memory and component costs rose. AMD expects to close its purchase of World Labs, an AI lab building models of the physical world, in the December quarter (source: StockAnalysis, AMD Q3 2026 call transcript).
The shares had already risen 3.65% to $483.90 in the regular session on November 3 (source: Yahoo Finance, AMD price history). After the release they swung between 1.8% lower and 9.6% higher in extended trading, and at 8PM ET, or 1AM UTC, they were 5.0% higher at $508.20 (source: Yahoo Finance, AMD quote and chart). BloFin's AMD perpetual moved the same way, from 1.8% below to 9.4% above its 4PM ET level. It was 7.9% higher at 5PM ET and 5.1% higher at 8PM ET, while bitcoin was down 0.8% (source: BloFin price data).
When did AMD report Q3 2026 earnings?
AMD reported its third-quarter 2026 results after the US market closed on Tuesday, November 3, 2026. The conference call started at 5PM ET, which is 10PM UTC (source: AMD, earnings date notice).
The filing reached the US Securities and Exchange Commission (SEC) at 4.16PM ET, the same time as each of its last four reports (source: SEC EDGAR, AMD filings). US daylight saving time ended on November 1, so ET is now five hours behind UTC, not four.
Time zone | Results | Conference call |
|---|---|---|
ET | 4.16PM Tue | 5PM Tue |
UTC | 9.16PM Tue | 10PM Tue |
Tuesday was also the US midterm election day, and markets were open as usual. The earnings roundup for November 2 to 6 lists the other reports that week.
What AMD told the market to expect
AMD gives its outlook in the results release. In August it guided third-quarter revenue to about $13 billion, plus or minus $300 million, which it said would mean growth of about 41% from a year earlier (source: AMD, August 4, 2026). It also guided adjusted gross margin to about 56% (source: AMD, August 4, 2026).
That guide followed a strong quarter:
Revenue: $11.5 billion, with adjusted EPS of $1.66 (source: AMD, August 4, 2026).
Data center: $6.7 billion, up 107%, from EPYC server chips and Instinct AI chips.
Client: $3.1 billion, up 23%, from Ryzen PC chips.
Gaming: $779 million, down 31%.
Embedded: $977 million, up 19% (source: AMD, August 4, 2026).
Going in, AMD had beaten the midpoint of its own revenue guide in each of the last three quarters, but by less each time. The beat was $670 million in the December quarter (source: AMD, February 3, 2026), $450 million in March (source: AMD, May 5, 2026) and $340 million in June (source: AMD, August 4, 2026).
AMD Q3 2026 earnings preview: What analysts expected
The forecasts depended on who you asked. The Zacks consensus was EPS of $1.68, from 13 estimates between $1.46 and $1.84 (source: Nasdaq, AMD earnings forecast). Earnings Whispers put the consensus at $1.94 on revenue of $13.1 billion, just above the middle of AMD's range (source: Earnings Whispers via Finviz, October 26, 2026).
Both providers put year-ago EPS at $0.97, below the $1.20 adjusted figure AMD reported, so neither lines up exactly with AMD's own numbers. Compare a result with one provider at a time.
Q3 2026 forecast | Q2 2026 actual | Q3 2025 actual | |
|---|---|---|---|
Revenue | About $13.0 billion, ± $0.3 billion (AMD); $13.1 billion (Earnings Whispers) | $11.5 billion | $9.2 billion |
Adjusted gross margin | About 56% (AMD) | 56% | 54% |
Adjusted EPS | $1.68 (Zacks); $1.94 (Earnings Whispers) | $1.66 | $1.20 |
Data center revenue | $8.2 billion (source: Yahoo Finance, November 3, 2026) | $6.7 billion | $4.3 billion |
The June-quarter figures come from AMD's August release (source: AMD, August 4, 2026), and those for a year ago from its November 2025 release (source: AMD, November 4, 2025). A year ago, AMD's results had no sales of its MI308 AI chip to China. Those sales came back this year, and AMD's March-quarter guide included about $100 million of them (source: AMD, February 3, 2026).
What was set to move AMD stock after the report
The September numbers mattered less than the outlook for December and 2027, and that outlook came in the release and on the call. In August, AMD's stock fell 7.0% the next day even though revenue beat its own guide (source: Yahoo Finance, AMD price history).
Data center and the Helios ramp
Data center had become more than half of AMD's sales. Earnings Whispers counted it at 58% in the June quarter (source: Earnings Whispers via Finviz, October 26, 2026). AMD's MI450 and Helios roadmap explains the chips. AMD said in August that Helios "begins to ramp" in the second half (source: AMD, August 4, 2026).
Meta agreed in February to deploy AMD Instinct graphics processing units (GPUs) drawing up to 6 gigawatts of power, with the first shipments due in the second half of 2026 (source: AMD, February 24, 2026). Earnings Whispers said the first Helios shipments were due late in the quarter, so their revenue should have been small (source: Earnings Whispers via Finviz, October 26, 2026). The question was whether the ramp was on track.
Server chips and the Intel read-across
Intel fell 28.6% on October 30 after a weak forecast, blamed on slowing PC sales, and AMD fell 10.9% the same day (source: Zacks via Yahoo Finance, November 2, 2026). AMD kept falling on November 2 as worries spread about chip valuations and AI spending (source: FX Leaders, November 2, 2026).
AMD sells PC chips too, so the market wanted to know whether the PC slowdown would reach it. Its client business grew 23% in the June quarter (source: AMD, August 4, 2026), but Lisa Su said in August that AMD is "planning for a softer PC market" (source: 24/7 Wall St., November 2, 2026). Demand for server processors (CPUs) was the other half of that story, because AI data centers need CPUs as well as GPUs.
Gross margin
Adjusted gross margin rose from 54% a year ago to 56% in the June quarter (source: AMD, August 4, 2026). A margin under 56% would have raised questions about how much the Helios ramp costs. A margin at or above it would have suggested more of AMD's sales came from its higher-margin chips.
Gaming, the December guide and World Labs
Gaming was the weak spot in the June quarter, down 31% (source: AMD, August 4, 2026). The bigger number was AMD's guide for the December quarter. Zacks put December-quarter EPS at $2.29 (source: Nasdaq, AMD earnings forecast). AMD had also agreed to buy World Labs for about $8.2 billion in shares (source: AMD, September 26, 2026).
How AMD stock moved after its last four reports
AMD's next-day moves have been large in both directions. Two of the four before this report were bigger than 17%, and the stock fell after two of the four. The smallest move, in November 2025, was still 2.5% (source: Yahoo Finance, AMD price history).
Report | AMD shares, next session (Nasdaq) | BloFin perpetual, 24 hours | Bitcoin, same 24 hours |
|---|---|---|---|
Q3 2025, November 4, 2025 | +2.5% | Not yet listed | +3.0% |
Q4 2025, February 3, 2026 | −17.3% | Not yet listed | −3.9% |
Q1 2026, May 5, 2026 | +18.6% | Not yet listed | −0.2% |
Q2 2026, August 4, 2026 | −7.0% | −8.3% | +1.0% |
Q3 2026, November 3, 2026 | +5.0% after hours, to 8PM ET | +5.1%, to 8PM ET | −0.8%, to 8PM ET |
Nasdaq moves are close-to-close (source: Yahoo Finance, AMD price history). The BloFin and bitcoin columns cover 24 hours, from 4PM ET on the report day to 4PM ET the next day (source: BloFin price data). BloFin listed the AMDUSDT Perpetual on May 6, 2026, the morning after the May report, so August was its first full report. The November 2026 row covers report night only, from 4PM to 8PM ET. Bitcoin moved the opposite way to AMD in two of the four earlier windows.
On November 2, the stock was still up about 118% this year, but it closed 28% below its October 6 closing high of $649.42 (source: Yahoo Finance, AMD price history). The Apple Q4 FY2026 earnings preview covers Apple's report on November 2, the other big tech report that week. Nvidia, the other big AI chip report this season, follows on November 17, with its call at 5PM ET, or 10PM UTC (source: Nvidia, October 28, 2026).
If you want to follow the reaction on BloFin, the AMDUSDT Perpetual tracks AMD shares and is also open to copy trading.
What August's report looked like on BloFin, hour by hour
The 24-hour figure hides how fast the move came. On August 4, the AMDUSDT Perpetual stood at $525.76 at 4PM ET (source: BloFin price data). By 5PM ET it was 8.7% lower, and in that first hour it touched $463.90, down 11.8%.
Most of the drop came in that first hour. The perpetual then drifted between about 9% and 10% lower through the night.
When Nasdaq opened the next morning, the perpetual bounced to 6.0% down at 10AM ET. It then slid again and finished 8.3% lower at 4PM ET. On Nasdaq, AMD opened 6.6% below its previous close and closed 7.0% lower (source: Yahoo Finance, AMD price history).
Volume tells the same story. The first hour after the report traded about 79% as much as the last regular hour (source: BloFin price data). Overnight hours traded only 5% to 12% as much, so spreads can widen overnight, when fewer traders are there to take the other side of an order.
Trading AMD's report on BloFin
The AMDUSDT Perpetual offers up to 20x leverage (source: BloFin price data). It follows US market hours, which are 9.30AM to 4PM ET, or 2.30PM to 9PM UTC, on weekdays now that daylight saving time has ended (source: BloFin, stock futures trading hours). Outside those hours, trading "may be limited to reduce-only orders."
AMD's results landed about 16 minutes after that window shut, so on report night you may have been able to close a position but not open one. AMD perpetual trading hours and reduce-only windows explains when that limit applies.
Say you hold a 2,000 USDT long on the AMD perpetual at 4x leverage, backed by 500 USDT of margin. A repeat of February's 17.3% drop would cost about 346 USDT, more than two-thirds of your margin. At 10x on the same margin, a 5,000 USDT position, the same drop would wipe out the margin before the move ended. Leverage and liquidation shows how that math works, and trading AMD around earnings covers how to plan a position around each report.
Looking to trade AMD? To get started, you'll need to first create a BloFin account, fund your account with cryptocurrency, and navigate to the AMDUSDT Perpetual.
Frequently asked questions
What time did AMD earnings come out?
The release reached the SEC at 4.16PM ET on November 3, or 9.16PM UTC (source: SEC EDGAR, AMD filings). In UTC that is an hour later than the May and August reports, which reached the SEC at 8.16PM UTC during summer time, and the same as last November and February. That left about 44 minutes before the conference call.
Did AMD beat earnings?
Yes, on most measures. The $2.09 also cleared $1.98, the unofficial whisper number from Earnings Whispers (source: Earnings Whispers via Finviz, October 26, 2026). By segment, data center revenue topped the $8.2 billion analysts expected, and gaming beat their $655 million. Client was the miss, at $2.9 billion against $3.1 billion (source: Yahoo Finance, November 3, 2026). Beating the forecast has not always lifted the stock, as August showed.
Why did AMD stock drop before earnings?
The two-day fall came mostly from outside AMD. Disappointing results from Intel and Amazon added to worries about chip valuations and AI spending (source: FX Leaders, November 2, 2026). Valuation was part of it too: 24/7 Wall St. noted that AMD shares traded at about 45 times expected earnings, against a five-year average of 35 times (source: 24/7 Wall St., November 2, 2026). A high multiple leaves less room for a disappointing outlook.
What does AMD's data center segment sell?
It sells EPYC processors for servers and Instinct GPUs for AI, and now Helios racks that combine them. Besides Meta and OpenAI, AMD names Anthropic, Cirrascale, HUMAIN and Microsoft among the AI labs and cloud providers deploying Helios (source: AMD, August 4, 2026). Meta's first gigawatt will run on a custom Instinct GPU based on the MI450 design (source: AMD, February 24, 2026). On servers, Earnings Whispers said AMD had raised its second-half server CPU growth outlook to more than 80% from a year earlier (source: Earnings Whispers via Finviz, October 26, 2026). Su said AMD "significantly exceeded" that outlook (source: StockAnalysis, AMD Q3 2026 call transcript).
Can you copy trade AMD on BloFin?
Yes. The AMDUSDT Perpetual is on BloFin's copy trading list, so you can follow a trader's AMD positions instead of placing your own (source: BloFin copy trading data). A copied position carries the same leverage and the same report-night risk as one you open yourself.
Researched and written by the BloFin Academy editorial team with AI-assisted drafting. All facts independently verified. Sources include AMD's SEC filings and releases, the StockAnalysis call transcript, Zacks via Nasdaq, Bloomberg via Yahoo Finance, Investing.com, Earnings Whispers, FX Leaders, 24/7 Wall St., Nvidia, Yahoo Finance and BloFin, current as of November 4, 2026.
Nothing in this article constitutes financial advice, and nothing in it is a recommendation to buy, sell or hold AMD shares, the AMDUSDT Perpetual or any crypto asset. AMD reports after the US close, when the stock perpetual may be limited to reduce-only orders, and the stock has moved more than 17% in a day after recent reports. A leveraged position can be liquidated and lose all the margin behind it, and a stop-loss can fill well past its price on a gap. BloFin services are not available in restricted locations, including the United States. Past performance does not indicate future results. Do your own research and consider your risk tolerance before you trade on BloFin.