AMD to Report Q3 Results Amid Expectations for AI and Data Center Growth

Advanced Micro Devices (AMD) is scheduled to announce its third-quarter results after the market closes on Tuesday, November 3, 2026. Investors are looking for growth driven by demand for AI chips and server processors.

Financial Projections and Expectations

Analysts have provided varying estimates for the upcoming report. According to Bloomberg consensus estimates, analysts anticipate AMD will report revenue of $13 billion and earnings per share of $1.97. Other reports suggest revenue may be approximately $13.08 billion to $13.09 billion, representing an increase of about 41% from the $9.25 billion reported a year earlier. Adjusted earnings per share are forecast to be between $1.88 and $1.95, compared to roughly $0.97 to $1.20 in the same period last year.

AMD's performance across different business segments is a primary focus for investors:

• Data Center: This segment is expected to see significant growth. One estimate projects sales of $8.19 billion, which would be an 88% increase from the $4.34 billion reported last year. In the second quarter, data center revenue rose 107% year-over-year to $6.7 billion, supported by EPYC server processors and Instinct AI accelerators.
• Client Business: This segment, which includes PC sales, is set to top $3.06 billion, an 11% increase year over year, though it remains flat sequentially.
• Gaming: This division may face a decline. Wall Street predicts a 49% revenue decline to $655 million. Both PC graphics cards and custom silicon for game consoles are facing higher prices due to an ongoing memory and storage shortage, which is depressing customer demand.

Market Context and Industry Trends

AMD's recent stock performance has been influenced by broader semiconductor market volatility. On October 22, the Philadelphia Semiconductor Index ($SOX) fell 6.7%, its largest drop since June. This was attributed to chip equipment maker Lam Research (LRCX) warning that supply bottlenecks were limiting shipments, and Meta's results, which saw heavy AI spending push free cash flow negative for the first time in over a decade.

AMD also experienced a selloff following Intel's (INTC) earnings report on October 29. While Intel beat its guidance, it provided Q4 revenue estimates of between $15 billion and $16 billion, which was below analyst projections of $17 billion. Intel attributed this outlook to a "worse-than-anticipated decline in the PC market." This decline is linked to difficult comparisons following the end of Windows 10 support and increasing PC prices. Following Intel's report, AMD's stock fell almost 11% in a single trading session.

Why it matters

Investors are looking for clues regarding AI infrastructure spending and demand in AMD's fourth-quarter guidance. Specifically, there is interest in the rollout of Helios, AMD's full AI server rack, which was expected to begin shipping at the end of Q3. While AMD faces supply limits on high-core chips, the company's data center operations accounted for 58% of its topline in the second quarter.

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Sources

• finance.yahoo.com: AMD to report Q3 results as chip stocks rebound following last week's steep selloff
• ca.finance.yahoo.com: AMD Must Deliver a Powerful Earnings Beat to Keep Its AI Rally Alive
• barchart.com: AMD Stock Got Caught in Intel’s Selloff. What to Watch This Week.

This article was drafted with AI assistance and checked against the sources above. Company claims are reported as claims. Cover image is AI-generated.