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AMD reports net profit attributable to parent company of $6.108 billion for the first three quarters of fiscal 2026, ...
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On November 4, AMD released its report for the first three quarters and the third fiscal quarter of fiscal 2026. The report shows that the company's total operating revenue for the first three quarters reached $35.166 billion, up 44.31% year over year; net income attributable to AMD was $6.108 billion, up 116.29% year over year. Results comprehensively exceeded the consensus expectations of Wall Street institutions, with revenue, Non-GAAP earnings per share, and operating profit all significantly higher than market expectations.
Fiscal 2026 covers December 28, 2025 to December 26, 2026, and the statistical period for the first three quarters is December 28, 2025 to September 26, 2026. For the same period, AMD's gross profit was $18.829 billion, up 62.67% year over year; gross margin was 54%, up 7 percentage points year over year. The company's operating cash flow was $6.523 billion, up 27.68% year over year; free cash flow was $4.678 billion, up 36.11% year over year.
The third fiscal quarter (June 28 to September 26, 2026) was particularly outstanding. AMD's quarterly revenue was $13.377 billion, up 45% year over year and up 16% quarter over quarter, setting a record high for a single quarter and exceeding the upper end of the company's previous guidance. In that quarter, gross profit was $7.21 billion, up 51% year over year and up 16% quarter over quarter; net income attributable to AMD was $2.428 billion, up 95% year over year and up 6% quarter over quarter.
From the perspective of business structure, the data center segment became the core growth engine. In the third fiscal quarter, data center revenue reached $8.546 billion, surging 97% year over year, mainly benefiting from strong demand for AMD EPYC processors and the Instinct MI450 series GPUs. In the same period, the company's GAAP gross margin was 54%, up 2 percentage points year over year; Non-GAAP gross margin was 56%, up 2 percentage points year over year.
In terms of earnings quality, AMD's third fiscal quarter GAAP net income was $2.428 billion, and Non-GAAP net income was $3.471 billion, up 77% year over year. Basic earnings per share were $1.48, and diluted earnings per share were $1.46. For the first three quarters, basic earnings per share were $3.74, diluted earnings per share were $3.69, and the debt-to-asset ratio was 27.87%.
Cash flow and the balance sheet remained robust. In the third fiscal quarter, GAAP operating cash flow was $1.202 billion, and free cash flow was $554 million. As of the end of the quarter, the company's cash and short-term investments totaled $15.776 billion, supporting investment in AI product research and development and capacity expansion.
Looking ahead to the fourth quarter of fiscal 2026, AMD provided Non-GAAP guidance: revenue of approximately $17 billion, plus or minus 3%; the midpoint of the guidance corresponds to year-over-year growth of approximately 66% and quarter-over-quarter growth of approximately 27%; Non-GAAP gross margin of approximately 55%. The company stated that after the Helios rack-scale solution and "Venice" products enter mass production, growth will further accelerate in the next quarter.
