Advanced Micro Devices, Inc. Q2 2026 Earnings Results vs. Expectations
ReportsAug 4, 2026
SlotAfter Market Close
Results are out
This quarter has reported. The consensus below is what we expected going in.
What the Street expects
EPS · NON-GAAP
$1.62
consensus · see the release
QoQ—
YoY—
Revenue
$11.31B
consensus · see the release
QoQ—
YoY—
QoQ and YoY are what the consensus implies against the prior quarter and the prior year.
Also on the card
Q3 revenue guidance
$12.7B–$13.3B
Data Center growth (est.)
~100% YoY
What to watch
- Gross margin direction. Whether 54.00% was the peak or 52.82% was the anomaly. One quarter cannot tell you; the second consecutive move can.
- Whether FCF margin holds above the low twenties. A single 25.0% quarter is a record; two would make it a level rather than a spike.
- Data-center growth against a supply-constrained market, given what Intel reported about demand outpacing supply.
- The sequential comparison the coverage will lead with. Q2 is seasonally an up-quarter for AMD — it rose 3.3% and 6.6% in the last two years — so a sequential increase should be read against that, exactly as Q1's flat print should have been.
Estimate against reported
Our published estimate
Reported EPS
| Quarter | Estimate | Reported | Surprise |
|---|---|---|---|
| 2024 Q3 | — | $0.47 | — |
| 2024 Q4 | — | $0.30 | — |
| 2025 Q1 | — | $0.44 | — |
| 2025 Q2 | — | $0.54 | — |
| 2025 Q3 | — | $0.75 | — |
| 2025 Q4 | — | $0.92 | — |
| 2026 Q1 | — | $0.85 | — |
| 2026 Q2 | $1.62 | $1.66 | +2% |
Estimates are the consensus we published on our own preview for that quarter; quarters we did not preview carry the reported figure only. Where a consensus was set on a non-GAAP basis, the reported column shows that same measure.
Every quarter
Read the full preview → Q2 2026 release page View AMD stock page