Revenue Growth Acceleration
AMD posted Q1 2026 revenue of $10.25B, up 37.8% YoY from $7.44B, reflecting robust demand across its product portfolio, particularly in data center and AI-related segments.
Source: 10-Q Financial Data, Income Statement
Computed from published fixed rules, not a model's judgement — though one input, the count of high-severity risks, comes from the AI analysis below.
Not investment advice and not a price target: it scores the quarter's fundamentals, not the stock. Full methodology →
AI Takeaway
AMD delivered a standout Q1 2026 with revenue surging 37.8% YoY to $10.25B and net income nearly doubling to $1.38B, driven by strong data center demand and significant operating leverage.
Revenue
$10.25B
+37.85% YoY
EPS (Diluted)
$0.84
+90.91% YoY
Gross Margin
52.8%
+2.6 pts YoY
Operating Income
$1.48B
+83.13% YoY
Source: SEC XBRL
Advanced Micro Devices (AMD) reported Q1 FY2026 revenue of $10.25B, up 37.8% year over year. Operating margin was 14.4%, up 3.6 points from 10.8% a year earlier. Operating cash flow was $2.96B, up 214.7% year over year. AMD's fiscal Q1 FY2026 corresponds to calendar Q1 2026.
Last 4 quarters: 4 beats
| Quarter | Actual EPS (USD) | Consensus (USD) | Result |
|---|---|---|---|
| Jun 2026 | 1.66 | 1.63 | Beat +1.8% |
| Mar 2026This filing | 1.37 | 1.31 | Beat +4.8% |
| Dec 2025 | 1.53 | 1.33 | Beat +14.8% |
| Sep 2025 | 1.20 | 1.18 | Beat +2.1% |
Adjusted (non-GAAP) EPS of $1.37 versus the $1.31 analyst consensus — a +4.8% beat for Mar 2026. Analyst consensus is quoted on the adjusted (non-GAAP) basis the street uses. GAAP diluted EPS for this quarter was $0.84.
Compiled by AI from this SEC filing
AMD posted Q1 2026 revenue of $10.25B, up 37.8% YoY from $7.44B, reflecting robust demand across its product portfolio, particularly in data center and AI-related segments.
Source: 10-Q Financial Data, Income Statement
Gross margin improved 254 basis points YoY to 52.8% (from 50.2%), indicating a more favorable product mix and improved pricing power, with gross profit rising 45.0% to $5.42B.
Source: 10-Q Financial Data, Key Ratios
Operating income grew 83.1% YoY to $1.48B, with operating margin expanding 356 basis points to 14.4%, demonstrating that revenue growth is outpacing cost growth and delivering meaningful operating leverage.
Source: 10-Q Financial Data, Income Statement
Operating cash flow surged 214.7% YoY to $2.96B, a dramatic improvement from $939M in Q1 2025, signaling significantly stronger earnings quality and working capital management.
Source: 10-Q Financial Data, Cash Flow
R&D expense rose 38.7% YoY to $2.40B, keeping pace with revenue growth and underscoring AMD's commitment to sustaining its competitive position in CPUs, GPUs, and AI accelerators.
Source: 10-Q Financial Data, Income Statement
Compiled by AI from this SEC filing · 1 high, 2 medium, 2 low
SG&A expenses grew 41.4% YoY to $1.25B and R&D expenses grew 38.7% YoY to $2.40B, both outpacing or matching revenue growth. If revenue growth decelerates, this cost structure could compress margins materially.
Source: 10-Q Financial Data, Income Statement
Current liabilities grew 36.4% YoY to $10.51B, slightly faster than current assets growth of 32.6% to $28.63B. While the current ratio remains healthy at 2.72, the trend warrants monitoring as obligations scale with the business.
Source: 10-Q Financial Data, Balance Sheet
Investing cash flow deteriorated sharply to -$2.57B from -$357M in Q1 2025, a 618.5% increase in outflows, suggesting heavy capital deployment in acquisitions or capital expenditures that could pressure free cash flow if not matched by returns.
Source: 10-Q Financial Data, Cash Flow
Cash and equivalents fell 7.7% YoY to $5.59B from $6.05B, even as operating cash flow improved dramatically. This reflects the significant investing and financing activities consuming liquidity.
Source: 10-Q Financial Data, Balance Sheet
AMD's revenue acceleration is heavily tied to AI and data center demand, a market where it competes directly with NVIDIA and Intel. Any shift in customer spending priorities or competitive pricing pressure could disproportionately impact AMD's top-line growth trajectory.
Source: 10-Q Financial Data, Income Statement
| Metric | Current | Previous | YoY Change |
|---|---|---|---|
Revenue $B | 10.25 $B | 7.44 $B | +37.85% |
Cost of Revenue $B | 4.84 $B | 3.70 $B | +30.66% |
Gross Profit $B | 5.42 $B | 3.74 $B | +44.97% |
Operating Income $B | 1.48 $B | 0.81 $B | +83.13% |
Net Income $B | 1.38 $B | 0.71 $B | +95.06% |
EPS (Basic) $ | 0.85 $ | 0.44 $ | +93.18% |
EPS (Diluted) $ | 0.84 $ | 0.44 $ | +90.91% |
R&D Expense $B | 2.40 $B | 1.73 $B | +38.72% |
SG&A Expense $B | 1.25 $B | 0.89 $B | +41.42% |
Answers draw on this SEC filing and the data on this page
AMD's fiscal second quarter revenue jumped 50% and gross margin reached 54%, propelled by a doubling of Data Center sales, while operating expenses rose sharply to fund AI expansion.
AMD delivered a landmark fiscal year 2025, with revenue surging 34.3% to $34.6B and net income more than doubling to $4.3B, driven by strong data center and AI chip demand.
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