AMD
Advanced Micro Devices, Inc.
Quarterly revenue, EPS, free cash flow, valuation, and Rule of 40 scores for Advanced Micro Devices, Inc..
Coverage
AMD's Best Growth Quarter Was Its Worst Cash Quarter, and the Rule of 40 Barely Moved
AMD's Q2: revenue $11,536M up 50.1%, free cash flow down 39% on capex that doubled. The Rule of 40 moved 0.75 points while its composition changed completely.
AMD Reports Q2 on August 4, and the Number That Looks Like a Stall Isn't One
AMD's flat Q1 was its strongest sequential start in four years once seasonality is read right. Into the August 4 print: gross margin versus cash conversion.
AMD benefits from semis rally on AI capex
Up strongly in tech rebound alongside NVDA; hyperscaler spending tailwind for chips.
A Trillion Dollars Created Every 100 Days Weighs Down Markets
Broader market analysis touching AMD as part of chip stocks like Nvidia in top gainers.
Where the revenue goes next
Latest: $11.54B (2026Q2)
| Period | Value |
|---|---|
| 2020Q3 | $2.80B |
| 2020Q4 | $3.24B |
| 2021Q1 | $3.44B |
| 2021Q2 | $3.85B |
| 2021Q3 | $4.31B |
| 2021Q4 | $4.83B |
| 2022Q1 | $5.89B |
| 2022Q2 | $6.55B |
| 2022Q3 | $5.57B |
| 2022Q4 | $5.60B |
| 2023Q1 | $5.35B |
| 2023Q2 | $5.36B |
| 2023Q3 | $5.80B |
| 2023Q4 | $6.17B |
| 2024Q1 | $5.47B |
| 2024Q2 | $5.83B |
| 2024Q3 | $6.82B |
| 2024Q4 | $7.66B |
| 2025Q1 | $7.44B |
| 2025Q2 | $7.68B |
| 2025Q3 | $9.25B |
| 2025Q4 | $10.27B |
| 2026Q1 | $10.25B |
| 2026Q2 | $11.54B |
Latest: $1.38 (2026Q2)
| Period | Value |
|---|---|
| 2020Q3 | $0.32 |
| 2020Q4 | $1.47 |
| 2021Q1 | $0.45 |
| 2021Q2 | $0.58 |
| 2021Q3 | $0.75 |
| 2021Q4 | $0.79 |
| 2022Q1 | $0.56 |
| 2022Q2 | $0.27 |
| 2022Q3 | $0.04 |
| 2022Q4 | -$0.03 |
| 2023Q1 | -$0.09 |
| 2023Q2 | $0.02 |
| 2023Q3 | $0.18 |
| 2023Q4 | $0.42 |
| 2024Q1 | $0.07 |
| 2024Q2 | $0.16 |
| 2024Q3 | $0.47 |
| 2024Q4 | $0.30 |
| 2025Q1 | $0.44 |
| 2025Q2 | $0.54 |
| 2025Q3 | $0.75 |
| 2025Q4 | $0.92 |
| 2026Q1 | $0.85 |
| 2026Q2 | $1.38 |
Latest: 148.9 (2026Q2)
| Period | Value |
|---|---|
| 2020Q3 | 120.0 |
| 2020Q4 | 45.0 |
| 2021Q1 | 38.0 |
| 2021Q2 | 42.0 |
| 2021Q3 | 48.0 |
| 2021Q4 | 46.0 |
| 2022Q1 | 42.0 |
| 2022Q2 | 35.0 |
| 2022Q3 | 55.0 |
| 2022Q4 | 78.0 |
| 2023Q1 | 190.0 |
| 2023Q2 | 210.0 |
| 2023Q3 | 190.0 |
| 2023Q4 | 275.0 |
| 2024Q1 | 180.0 |
| 2024Q2 | 220.0 |
| 2024Q3 | 160.0 |
| 2024Q4 | 135.0 |
| 2025Q1 | 110.0 |
| 2025Q2 | 95.0 |
| 2025Q3 | 85.0 |
| 2025Q4 | 78.0 |
| 2026Q1 | 66.0 |
| 2026Q2 | 148.9 |
Latest: $1.56B (2026Q2)
| Period | Value |
|---|---|
| 2020Q3 | $297M |
| 2020Q4 | $568M |
| 2021Q1 | $832M |
| 2021Q2 | $888M |
| 2021Q3 | $764M |
| 2021Q4 | $736M |
| 2022Q1 | $924M |
| 2022Q2 | $906M |
| 2022Q3 | $842M |
| 2022Q4 | $443M |
| 2023Q1 | $328M |
| 2023Q2 | $254M |
| 2023Q3 | $297M |
| 2023Q4 | $242M |
| 2024Q1 | $379M |
| 2024Q2 | $439M |
| 2024Q3 | $496M |
| 2024Q4 | $1.09B |
| 2025Q1 | $727M |
| 2025Q2 | $1.73B |
| 2025Q3 | $1.90B |
| 2025Q4 | $2.38B |
| 2026Q1 | $2.57B |
| 2026Q2 | $1.56B |
Latest: 1.63B (2026Q2)
| Period | Value |
|---|---|
| 2020Q3 | 1.22B |
| 2020Q4 | 1.20B |
| 2021Q1 | 1.23B |
| 2021Q2 | 1.23B |
| 2021Q3 | 1.23B |
| 2021Q4 | 1.21B |
| 2022Q1 | 1.41B |
| 2022Q2 | 1.63B |
| 2022Q3 | 1.62B |
| 2022Q4 | 1.61B |
| 2023Q1 | 1.61B |
| 2023Q2 | 1.63B |
| 2023Q3 | 1.63B |
| 2023Q4 | 1.62B |
| 2024Q1 | 1.64B |
| 2024Q2 | 1.64B |
| 2024Q3 | 1.64B |
| 2024Q4 | 1.62B |
| 2025Q1 | 1.63B |
| 2025Q2 | 1.63B |
| 2025Q3 | 1.64B |
| 2025Q4 | 1.63B |
| 2026Q1 | 1.65B |
| 2026Q2 | 1.63B |
Latest: $21.07B (2026Q2)
| Period | Value |
|---|---|
| 2020Q3 | -$217M |
| 2020Q4 | $351M |
| 2021Q1 | $1.18B |
| 2021Q2 | $2.07B |
| 2021Q3 | $2.83B |
| 2021Q4 | $3.57B |
| 2022Q1 | $4.50B |
| 2022Q2 | $5.40B |
| 2022Q3 | $6.24B |
| 2022Q4 | $6.69B |
| 2023Q1 | $7.01B |
| 2023Q2 | $7.27B |
| 2023Q3 | $7.57B |
| 2023Q4 | $7.81B |
| 2024Q1 | $8.19B |
| 2024Q2 | $8.62B |
| 2024Q3 | $9.12B |
| 2024Q4 | $10.21B |
| 2025Q1 | $10.94B |
| 2025Q2 | $12.67B |
| 2025Q3 | $14.57B |
| 2025Q4 | $16.95B |
| 2026Q1 | $19.51B |
| 2026Q2 | $21.07B |
Latest earnings
Company History
Incorporated by Jerry Sanders and colleagues from Fairchild Semiconductor to produce semiconductors.
Entered with products like Am9080 (Intel 8080 clone) and Am2900 bit-slice family, competing with Intel.
Debuted on NYSE and began building a fabrication plant in Austin, Texas.
Signed 10-year technology exchange with Intel, becoming second-source manufacturer for x86 processors like 8086 and 80286.
Acquired ATI for $5.4 billion, integrating graphics and retiring the ATI brand in 2010.
Spun off manufacturing into GlobalFoundries, becoming fabless.
Lisa Su became CEO, leading restructuring and layoffs that transformed the company.
Acquired Xilinx for $50 billion, expanding into FPGAs and adaptive computing.
Market cap exceeded Intel
Acquired Silo AI ($665 million) and ZT Systems ($4.9 billion) to enhance AI capabilities.
Key Players
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Funds we follow holding AMD
By latest reported 13F position value. Market value at quarter-end, not cost basis.
