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Full earnings analysis

Research updated: Jul 11, 2026, 12:00 AM UTC

Advanced Micro Devices (AMD) Q1 FY2026

AMD reported results for the 13-week quarter ended March 28, 2026, with Data Center demand led by EPYC processors and Instinct accelerators.

Reported outcomes

Revenue
$10.25 billion
Up 38% year over year
Data Center revenue
$5.8 billion
Up 57% year over year
GAAP operating income
$1.48 billion
Up 83% year over year
GAAP diluted EPS
$0.84
Up 91% year over year

Management guidance

  • AMD expected Q2 2026 revenue of approximately $11.2 billion, plus or minus $300 million, and non-GAAP gross margin of approximately 56%.

Risks that still need monitoring

  • Advanced supply-chain dependency

    AMD depends heavily on third parties for advanced wafers, packaging, substrates, and other constrained components.

  • Purchase and lease commitments

    Large purchase, cloud-service, lease, and guarantee commitments increase execution risk if demand changes.

  • AI platform execution

    AI accelerator adoption depends on competitive hardware performance, software maturity, and successful customer qualification.

Market reaction

+23.38%

2026-05-04 $341.54 → 2026-05-06 $421.39

Method: previous trading-day close to the first full trading-day close after the announcement.

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Primary sources

AMD Reports First Quarter 2026 Financial ResultsAdvanced Micro Devices, Inc. · earningsVerified

Fetched: Jul 11, 2026, 12:00 AM UTC

Published: May 5, 2026, 08:00 PM

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AMD Investor RelationsAdvanced Micro Devices, Inc. · companyVerified

Fetched: Jul 11, 2026, 12:00 AM UTC

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AMD Form 10-Q for the quarter ended March 28, 2026U.S. Securities and Exchange Commission · filingVerified

Fetched: Jul 11, 2026, 12:00 AM UTC

Published: May 6, 2026, 12:00 AM

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AMD editorial research profileAlphaVue Research · editorialVerified

Fetched: Jul 11, 2026, 12:00 AM UTC

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