MEMORY INDUSTRY INTELLIGENCE
AMD, 2026년 2분기 실적 발표
한국어 번역·요약·분석
원문 제목: AMD Reports Second Quarter 2026 Financial Results
원문 문장이 일치하지 않은 주장 2건은 근거 등록에서 제외했습니다.
핵심 요약
AMD는 2026년 2분기 매출 115억 3,600만 달러(전년 대비 50% 증가), GAAP 영업이익 19억 9,000만 달러, GAAP 순이익 22억 9,700만 달러, GAAP 희석 EPS 1.38달러를 발표했다. 데이터센터 부문 매출은 67억 달러로 전년 대비 107% 증가했으며, EPYC 프로세서와 Instinct GPU 수요가 견인했다. 회사는 2026년 3분기 매출을 약 130억 달러(±3억 달러)로 전망하며, 이는 전년 대비 약 41% 성장에 해당한다. 또한 Helios 랙스케일 솔루션, Instinct MI400 시리즈 GPU, 6세대 EPYC CPU 등을 발표하고 Anthropic, Microsoft 등과의 협력을 확대했다. 이 문서는 메모리 산업에 직접적인 수치를 제공하지 않으나, AI 인프라 확장이 HBM, 서버 DRAM, eSSD 등 메모리 수요에 간접적 영향을 줄 수 있다는 분석가 가설을 제시한다.
메모리 산업 영향 분석
AMD의 2026년 2분기 실적은 데이터센터 부문 매출이 전년 대비 107% 증가한 67억 달러를 기록하며 AI 인프라 투자 확대를 확인시켜 주었다. 이는 HBM, 서버 DRAM, eSSD 등 메모리 제품 수요에 긍정적 신호로 해석될 수 있으나, 원문에는 메모리 관련 구체적 수치나 고객사 언급이 없어 직접적 인과관계는 확인되지 않는다. 특히 Instinct MI400 시리즈 GPU와 Helios 랙스케일 솔루션은 고대역폭 메모리(HBM) 탑재량 증가로 이어질 가능성이 있으나, 실제 HBM 채택 여부와 용량은 미확인이다. 또한 Anthropic과의 2기가와트 규모 MI450 GPU 배치 협력은 장기적 서버 DRAM 및 eSSD 수요를 견인할 수 있는 계획으로, 실행 시점과 규모는 불확실하다. 메모리 산업과의 직접 연결 근거는 부족하나, AI 가속기 확산이 메모리 계층 이동(tier shift)과 사용량 효과를 유발할 수 있다는 분석가 가설을 제시한다.
한국어 번역 읽기
수집된 원문 v1의 분석에 제공된 본문 기준 · 15806자
캘리포니아 산타클라라, 2026년 8월 4일 (GLOBE NEWSWIRE) -- AMD (NASDAQ:AMD)가 오늘 2026년 2분기 재무 실적을 발표했습니다. 2분기 매출은 115억 달러, 매출총이익률은 54%, 영업이익은 20억 달러, 순이익은 23억 달러, 희석 주당순이익은 1.38달러였습니다. 비GAAP(*) 기준으로는 매출총이익률 56%, 영업이익 31억 달러, 순이익 28억 달러, 희석 주당순이익 1.66달러였습니다.
AMD 회장 겸 CEO인 리사 수 박사는 "데이터센터 매출이 전년 대비 두 배 이상 증가하며 기록적인 매출과 수익성을 달성한 훌륭한 분기를 보냈습니다. EPYC 수요가 가속화되고 Instinct 배치가 확대되며 Helios가 램프업을 시작하는 가운데 강한 모멘텀으로 하반기를 맞이합니다. 더 넓게 보면 AI가 모든 시장에서 컴퓨팅 수요의 상당한 확장을 주도하고 있으며, 우리의 리더십 포트폴리오와 증가하는 고객 가시성은 이 확대되는 기회를 포착하고 향후 수년간 상당한 매출 및 이익 성장을 달성할 수 있는 탁월한 위치에 있습니다."라고 말했습니다.
AMD 수석 부사장 겸 최고재무책임자(CFO) 겸 재무담당인 진 후는 "데이터센터 사업의 지속적인 강세에 힘입어 매출이 전년 대비 50% 증가한 기록적인 115억 달러를 달성했으며, 이는 회사 매출의 58%를 차지했습니다. 2026년 하반기에 데이터센터 매출이 가속화되어 전체 매출 성장과 지속적인 이익 확대를 견인할 것으로 예상합니다."라고 말했습니다.
## **GAAP 분기 재무 결과**
**2026년 2분기****2025년 2분기**(1)**전년 대비**(1)**2026년 1분기****전분기 대비**
매출 ($M)$11,536$7,685 50% 증가$10,253 13% 증가
매출총이익 ($M)$6,203$3,059 103% 증가$5,416 15% 증가
매출총이익률 54%40%14%p 상승 53%1%p 상승
영업비용 ($M)$4,213$3,193 32% 증가$3,940 7% 증가
영업이익 ($M)$1,990$(134)1585% 증가$1,476 35% 증가
영업이익률 17%(2)%19%p 상승 14%3%p 상승
순이익 ($M)$2,297$872 163% 증가$1,383 66% 증가
희석 주당순이익$1.38$0.54 156% 증가$0.84 64% 증가
(1) 2025년 2분기 결과에는 미국 정부의 AMD Instinct™ MI308 데이터센터 GPU 제품 수출 통제로 인한 8억 달러의 재고 및 관련 비용이 포함되었습니다.
## **비GAAP(*) 분기 재무 결과**
**2026년 2분기****2025년 2분기**(2)**전년 대비**(2)**2026년 1분기****전분기 대비**
매출 ($M)$11,536$7,685 50% 증가$10,253 13% 증가
매출총이익 ($M)$6,488$3,326 95% 증가$5,685 14% 증가
매출총이익률 56%43%13%p 상승 55%1%p 상승
영업비용 ($M)$3,394$2,429 40% 증가$3,145 8% 증가
영업이익 ($M)$3,094$897 245% 증가$2,540 22% 증가
영업이익률 27%12%15%p 상승 25%2%p 상승
순이익 ($M)$2,760$781 253% 증가$2,265 22% 증가
희석 주당순이익$1.66$0.48 246% 증가$1.37 21% 증가
(2) 2025년 2분기 결과에는 미국 정부의 AMD Instinct™ MI308 데이터센터 GPU 제품 수출 통제로 인한 8억 달러의 재고 및 관련 비용이 포함되었습니다.
**부문 요약**
* 데이터센터 부문 매출은 67억 달러로 전년 대비 107% 증가했으며, AMD EPYC™ 프로세서와 AMD Instinct™ GPU에 대한 강한 수요가 견인했습니다.
* 클라이언트 및 게이밍 부문 매출은 38억 달러로 전년 대비 6% 증가했습니다. 클라이언트 사업 매출은 31억 달러로 전년 대비 23% 증가했으며, 주로 AMD Ryzen™ 프로세서에 대한 강한 수요가 견인했습니다. 게이밍 사업 매출은 7억 7,900만 달러로 전년 대비 31% 감소했으며, 이는 반맞춤형(semi-custom) 매출 감소 때문입니다.
* 임베디드 부문 매출은 9억 7,700만 달러로 전년 대비 19% 증가했으며, 여러 최종 시장에서 수요가 강화되었습니다.
**최근 하이라이트**
* AMD는 대규모 AI 배치를 가속화하기 위한 고성능 및 AI 컴퓨팅 솔루션의 광범위한 포트폴리오와 전략적 파트너십을 [발표](https://newsroom.amd.com/news/aai-2026-full-stack-compute-agentic-ai/ "새 창에서 열림")했습니다:
* 세계에서 가장 강력한 AI 서버 랙인 AMD Helios™ 랙스케일 솔루션을 출시했습니다. AMD Helios는 달러당 리더십 추론 토큰을 제공하며 Anthropic, Cirrascale, HUMAIN, Meta, Microsoft, OpenAI, Oracle, Tensorwave, Vultr 등 주요 AI 연구소 및 클라우드 제공업체에 배치되고 있습니다.
* 대규모 AI 훈련 및 추론을 위한 리더십 컴퓨팅, 메모리 용량 및 대역폭을 제공하는 MI455X를 포함한 [AMD Instinct MI400 시리즈 GPU 제품군](https://newsroom.amd.com/news/aai-2026-mi400-instinct-update/ "새 창에서 열림")과 HPC 및 소버린 AI 워크로드를 위한 가장 진보된 가속기인 MI430X를 출시했습니다.
* 에이전틱 AI, 범용 및 엔터프라이즈 워크로드 전반에 걸쳐 리더십 성능을 제공하도록 설계된 [6세대 AMD EPYC 서버 CPU](https://newsroom.amd.com/news/aai-2026-6th-gen-epyc/ "새 창에서 열림")를 소개했습니다.
* 개발자가 AMD 플랫폼 전반에서 더 빠르게 구축, 배포 및 최적화할 수 있도록 설계된 AI 네이티브 개발자 경험인 [ROCm.ai](http://rocm.ai/ "새 창에서 열림")를 출시했습니다.
* AMD Helios 랙에서 최대 2기가와트의 MI450 시리즈 GPU를 배치하고 Claude를 사용하여 AMD Instinct GPU 및 ROCm 소프트웨어 개발을 최적화하는 다년간 협력을 위한 [Anthropic과의 전략적 파트너십](https://newsroom.amd.com/news/amd-anthropic-strategic-partnership/ "새 창에서 열림")을 발표했습니다.
* 프론티어 모델 추론을 지원하기 위해 Azure에서 AMD Helios 랙을 대규모로 배치하는 [Microsoft와의 협력](https://newsroom.amd.com/news/microsoft-azure-ai-infrastructure/ "새 창에서 열림")을 확대했습니다. Azure는 또한 두 개의 새로운 AMD EPYC CPU 기반 VM 시리즈를 추가하고 Azure 네트워킹 서비스를 지원하기 위해 Pensando™ DPU 배치를 확대할 것입니다.
* 초저지연 추론 서비스의 효율성, 확장성 및 경제성을 개선하기 위해 AMD Helios와 Cerebras Wafer-Scale Engine을 결합하는 [Cerebras와의 협력](https://newsroom.amd.com/news/aai-2026-cerebras-inference/ "새 창에서 열림")을 발표했습니다.
* 기존 인프라에 원활한 AI 가속을 제공하도록 설계된 [AMD Instinct MI350P GPU](https://www.amd.com/en/blogs/2026/amd-instinct-mi350p-pcie-gpus-run-enterprise-ai-on-your.html "새 창에서 열림")를 출시했습니다.
* AI 워크로드의 메모리 사용을 최적화하고 사용 가능한 용량을 확장하도록 설계된 AI 기반 예측 메모리 기술을 추가하기 위해 [MEXT](https://www.amd.com/en/blogs/2026/amd-acquires-mext-for-memory-optimization.html "새 창에서 열림")를 인수했습니다.
* AMD는 기업, 개발자 및 게이머를 위한 PC 제품을 확장했습니다:
* 개발자가 AMD ROCm™ 오픈 소프트웨어 지원으로 최적화된 리더십 성능으로 에이전틱 AI 워크플로우를 로컬에서 구축, 테스트 및 실행할 수 있도록 특별히 설계된 [Ryzen AI Halo](https://www.amd.com/en/blogs/2026/amd-powers-next-generation-agent-computers-with-new-ryzen-ai-hal.html "새 창에서 열림") 시스템을 출시했습니다.
* 처음으로 엔터프라이즈 워크스테이션에 AMD 3D V-Cache™ 기술을 제공하는 [AMD Ryzen PRO 9000 시리즈 프로세서 라인업](https://www.amd.com/en/blogs/2026/amd-expands-amd-ryzen-pro-9000-series-processor-lineup.html "새 창에서 열림")을 확장했습니다.
* [AMD Ryzen 7700X3D 프로세서](https://www.amd.com/en/blogs/2026/amd-computex-2026-10-years-of-am4-am5-support-through.html "새 창에서 열림")를 출시하고 2029년까지 Socket AM5 플랫폼 지원을 연장하여 게이머에게 더 많은 성능과 수명을 제공했습니다.
* Cisco와 AMD는 AMD Ryzen AI Halo 시스템과 Cisco 네트워킹, 관찰 가능성 및 보안 기능을 결합하여 기업이 하이브리드 및 로컬 에이전틱 AI를 대규모로 배포, 관리 및 통제할 수 있도록 [협력](https://newsroom.amd.com/news/aai-2026-cisco-client-partnership-update/ "새 창에서 열림")하고 있습니다.
* [AMD Radeon RX 9070 GRE 그래픽 카드](https://www.amd.com/en/blogs/2026/amd-computex-2026-10-years-of-am4-am5-support-through.html "새 창에서 열림")의 글로벌 가용성을 확대하여 더 많은 게이머에게 성능과 고급 레이 트레이싱 기능을 제공했습니다.
* AMD는 적응형 및 임베디드 AI 포트폴리오를 확장했습니다:
* 로봇공학, 산업 자동화 및 지능형 임베디드 시스템에 전력을 공급하기 위해 CPU, GPU 및 AI 가속을 통합한 새로운 임베디드 x86 프로세서 제품군인 [AMD Ryzen™ AI Embedded X100 시리즈 프로세서](https://newsroom.amd.com/news/aai-2026-ryzen-ai-embedded-x100/ "새 창에서 열림")를 소개했습니다.
* 차세대 물리적 AI 시스템 개발을 가속화하기 위해 [AMD Kria AI 시스템 온 모듈](https://www.amd.com/en/products/system-on-modules/kria/ai.html "새 창에서 열림") 및 [AMD Kria AI 로봇공학 개발자 플랫폼](https://newsroom.amd.com/news/aai-2026-kria-robotics-dev-platform "새 창에서 열림")을 포함한 AMD Kria™ AI 솔루션을 발표했습니다.
* 테스트 및 측정, 전문 비디오 편집, 통신 및 항공우주 및 방위 워크로드의 데이터 전송 속도를 높이기 위해 [Versal™ Premium Series Gen 2 Memory on Package 적응형 SoC](https://www.amd.com/en/blogs/2026/amd-packs-more-memory-capacity--performance-in-a-smalle.html "새 창에서 열림")를 출시했습니다.
**현재 전망**
AMD의 전망 진술은 현재 기대를 기반으로 합니다. 다음 진술은 미래 예측 진술이며 실제 결과는 시장 상황 및 아래 "주의 진술"에 명시된 요인에 따라 크게 달라질 수 있습니다.
2026년 3분기에 대해 AMD는 매출이 약 130억 달러(플러스/마이너스 3억 달러)가 될 것으로 예상합니다. 매출 범위의 중간점은 전년 대비 약 41% 성장, 전분기 대비 약 13% 증가를 나타냅니다. 비GAAP 매출총이익률은 약 56%가 될 것으로 예상됩니다.
**AMD 전화 회의**
AMD는 오늘 오후 2시 PT(오후 5시 ET)에 2026년 2분기 재무 실적을 논의하기 위한 컨퍼런스 콜을 개최합니다. AMD는 웹사이트 [www.amd.com](http://www.amd.com "새 창에서 열림")의 [투자자 관계](http://ir.amd.com/ "새 창에서 열림") 페이지에서 컨퍼런스 콜의 실시간 오디오 방송을 제공할 것입니다.
**GAAP에서 비GAAP 재무 측정으로의 조정****(백만 달러, 주당 데이터 및 백분율 제외) (감사되지 않음)**
**3개월 종료**
**2026년 6월 27일**
**2026년 3월 28일**
**2025년 6월 28일**
**GAAP 매출총이익****$****6,203****$****5,416****$****3,059**
**_GAAP 매출총이익률_****_54_****_%_****_53_****_%_****_40_****_%_**
주식 기반 보상 8 8 6
인수 관련 무형자산 상각 260 261 260
인수 관련 및 기타 비용 (1)——1
법적 문제에 대한 우발 손실 17——
**비GAAP 매출총이익****$****6,488****$****5,685****$****3,326**
**_비GAAP 매출총이익률_****_56_****_%_****_55_****_%_****_43_****_%_**
**GAAP 영업비용****$****4,213****$****3,940****$****3,193**
**_GAAP 영업비용/매출 %_****_37_****_%_****_38_****_%_****_42_****_%_**
주식 기반 보상 495 479 363
인수 관련 무형자산 상각 284 290 308
인수 관련 및 기타 비용 (1)40 26 93
**비GAAP 영업비용****$****3,394****$****3,145****$****2,429**
**_비GAAP 영업비용/매출 %_****_29_****_%_****_31_****_%_****_32_****_%_**
**GAAP 영업이익(손실)****$****1,990****$****1,47
[원문 후반 발췌]
기술 또는 기타 지적 재산; 불리한 환율 변동; 제3자 제조업체가 AMD 제품을 적시에 충분한 수량으로 경쟁력 있는 기술을 사용하여 제조할 수 있는 능력; 필수 장비, 재료, 부품(예: 메모리 공급), 기판 또는 제조 공정의 가용성; AMD 제품의 예상 제조 수율 달성 능력; AMD의 반맞춤형 SoC 제품에서 수익을 창출할 수 있는 능력; 잠재적 보안 취약성; IT 중단, 데이터 손실, 데이터 침해 및 사이버 공격을 포함한 잠재적 보안 사고; AMD 제품의 주문 및 배송과 관련된 불확실성; 신제품을 설계하고 출시하기 위한 제3자 지적 재산에 대한 AMD의 의존; 마더보드, 소프트웨어, 메모리 및 기타 컴퓨터 플랫폼 구성 요소의 설계, 제조 및 공급을 위한 제3자 회사에 대한 AMD의 의존; AMD 제품에서 실행되는 소프트웨어를 설계하고 개발하기 위한 Microsoft 및 기타 소프트웨어 공급업체의 지원에 대한 AMD의 의존; 제3자 유통업체 및 애드인 보드 파트너에 대한 AMD의 의존; AMD의 내부 비즈니스 프로세스 및 정보 시스템의 수정 또는 중단의 영향; 일부 또는 모든 산업 표준 소프트웨어 및 하드웨어와 AMD 제품의 호환성
[원문 후반 발췌]
비GAAP 법인세 비용을 계산할 때 정규화된 세율을 사용하여 보고 기간 간에 더 나은 일관성을 제공합니다. 2026 회계연도에 AMD는 세전 비GAAP 조정의 세금 영향을 제외한 13%의 비GAAP 세율을 사용했습니다. AMD는 또한 성과에 대한 보충 비GAAP 측정으로 조정 EBITDA, 잉여현금흐름 및 잉여현금흐름 마진을 제공합니다. 이러한 항목은 이 실적 보도 자료 말미에 제공된 선택된 기업 데이터 표의 각주에 정의되어 있습니다. AMD는 이러한 재무 측정을 제공하는 이유는 이러한 비GAAP 표시가 투자자가 현재 및 과거 기간의 운영 결과를 비교하는 것을 더 쉽게 만들고, 또한 AMD가 핵심 운영 성과를 나타내지 않는다고 믿는 항목을 제외함으로써 일관된 기준으로 보고 기간 전반에 걸쳐 AMD의 성과를 비교하는 데 투자자를 지원한다고 믿기 때문이며, 선택된 데이터 표의 각주에 설명된 기타 이유 때문입니다. 이 실적 보도 자료에 공개된 비GAAP 재무 측정은 GAAP에 따라 준비된 AMD의 보고된 결과에 추가하여 또는 그 대체 또는 우월한 것으로 간주되어서는 안 되며 AMD의 연결 재무제표와 함께 읽어야 합니다.
[원문 후반 발췌]
61,373 63,365
비용 기준 자사주—(7,079)
이익잉여금 5,909 6,699
기타 포괄 손실 누계(74)(3)
**총 주주 자본**67,224 62,999
**총 부채 및 주주 자본**$84,464$76,926
**ADVANCED MICRO DEVICES, INC.**
**간결 연결 현금흐름표**
**(백만 달러) (감사되지 않음)**
**3개월 종료****6개월 종료**
**2026년 6월 27일**
**2025년 6월 28일**
**2026년 6월 27일**
**2025년 6월 28일**
영업 활동으로 인한 현금 흐름:
순이익$2,297$872$3,680$1,581
중단된 사업으로 인한 (이익) 손실, 세금 차감 후 8(104)(3)(104)
순이익을 영업 활동에서 제공된 순현금으로 조정하기 위한 조정:
감가상각 및 상각 221 189 427 364
인수 관련 무형자산 상각 544 568 1,095 1,135
주식 기반 보상 503 369 990 733
장기 투자 이익, 순(483)(38)(549)(36)
이연 법인세(27)(886)(106)(1,053)
기타 33 28 61 65
영업 자산 및 부채의 변동:
매출채권, 순(1,246)330(966)1,078
재고(423)(261)(548)(943)
선급 비용 및 기타 자산(683)(140)(991)(377)
매입채무 2,274 836 2,170 547
미지급 및 기타 부채(652)(301)61(589)
계속 영업에서 제공된 순현금 2,366 1,
[원문 후반 발췌]
이 보도 자료는 경영진이 이러한 현금 흐름의 성격을 투자자가 이해하는 것이 중요하다고 믿기 때문입니다. 회사의 잉여현금흐름 계산은 동일 산업의 다른 회사의 계산과 일치하지 않을 수 있습니다. 투자자는 잉여현금흐름을 영업 활동으로 인한 현금 흐름의 GAAP 유동성 측정에 대한 대안으로 보아서는 안 됩니다.
**연락처**
Carolyn Guss
AMD Communications
[corporate.pressinquiry@amd.com](mailto:corporate.pressinquiry@amd.com "새 창에서 열림")
Liz Stine
AMD Investor Relations
[investor.relations@amd.com](mailto:investor.relations@amd.com "새 창에서 열림")
[](https://www.globenewswire.com/NewsRoom/AttachmentNg/9782a337-07ac-424b-9c5a-f9cde47d8d55)
출처: Advanced Micro Devices, Inc.
2026년 8월 4일 발표
AMD 회장 겸 CEO인 리사 수 박사는 "데이터센터 매출이 전년 대비 두 배 이상 증가하며 기록적인 매출과 수익성을 달성한 훌륭한 분기를 보냈습니다. EPYC 수요가 가속화되고 Instinct 배치가 확대되며 Helios가 램프업을 시작하는 가운데 강한 모멘텀으로 하반기를 맞이합니다. 더 넓게 보면 AI가 모든 시장에서 컴퓨팅 수요의 상당한 확장을 주도하고 있으며, 우리의 리더십 포트폴리오와 증가하는 고객 가시성은 이 확대되는 기회를 포착하고 향후 수년간 상당한 매출 및 이익 성장을 달성할 수 있는 탁월한 위치에 있습니다."라고 말했습니다.
AMD 수석 부사장 겸 최고재무책임자(CFO) 겸 재무담당인 진 후는 "데이터센터 사업의 지속적인 강세에 힘입어 매출이 전년 대비 50% 증가한 기록적인 115억 달러를 달성했으며, 이는 회사 매출의 58%를 차지했습니다. 2026년 하반기에 데이터센터 매출이 가속화되어 전체 매출 성장과 지속적인 이익 확대를 견인할 것으로 예상합니다."라고 말했습니다.
## **GAAP 분기 재무 결과**
**2026년 2분기****2025년 2분기**(1)**전년 대비**(1)**2026년 1분기****전분기 대비**
매출 ($M)$11,536$7,685 50% 증가$10,253 13% 증가
매출총이익 ($M)$6,203$3,059 103% 증가$5,416 15% 증가
매출총이익률 54%40%14%p 상승 53%1%p 상승
영업비용 ($M)$4,213$3,193 32% 증가$3,940 7% 증가
영업이익 ($M)$1,990$(134)1585% 증가$1,476 35% 증가
영업이익률 17%(2)%19%p 상승 14%3%p 상승
순이익 ($M)$2,297$872 163% 증가$1,383 66% 증가
희석 주당순이익$1.38$0.54 156% 증가$0.84 64% 증가
(1) 2025년 2분기 결과에는 미국 정부의 AMD Instinct™ MI308 데이터센터 GPU 제품 수출 통제로 인한 8억 달러의 재고 및 관련 비용이 포함되었습니다.
## **비GAAP(*) 분기 재무 결과**
**2026년 2분기****2025년 2분기**(2)**전년 대비**(2)**2026년 1분기****전분기 대비**
매출 ($M)$11,536$7,685 50% 증가$10,253 13% 증가
매출총이익 ($M)$6,488$3,326 95% 증가$5,685 14% 증가
매출총이익률 56%43%13%p 상승 55%1%p 상승
영업비용 ($M)$3,394$2,429 40% 증가$3,145 8% 증가
영업이익 ($M)$3,094$897 245% 증가$2,540 22% 증가
영업이익률 27%12%15%p 상승 25%2%p 상승
순이익 ($M)$2,760$781 253% 증가$2,265 22% 증가
희석 주당순이익$1.66$0.48 246% 증가$1.37 21% 증가
(2) 2025년 2분기 결과에는 미국 정부의 AMD Instinct™ MI308 데이터센터 GPU 제품 수출 통제로 인한 8억 달러의 재고 및 관련 비용이 포함되었습니다.
**부문 요약**
* 데이터센터 부문 매출은 67억 달러로 전년 대비 107% 증가했으며, AMD EPYC™ 프로세서와 AMD Instinct™ GPU에 대한 강한 수요가 견인했습니다.
* 클라이언트 및 게이밍 부문 매출은 38억 달러로 전년 대비 6% 증가했습니다. 클라이언트 사업 매출은 31억 달러로 전년 대비 23% 증가했으며, 주로 AMD Ryzen™ 프로세서에 대한 강한 수요가 견인했습니다. 게이밍 사업 매출은 7억 7,900만 달러로 전년 대비 31% 감소했으며, 이는 반맞춤형(semi-custom) 매출 감소 때문입니다.
* 임베디드 부문 매출은 9억 7,700만 달러로 전년 대비 19% 증가했으며, 여러 최종 시장에서 수요가 강화되었습니다.
**최근 하이라이트**
* AMD는 대규모 AI 배치를 가속화하기 위한 고성능 및 AI 컴퓨팅 솔루션의 광범위한 포트폴리오와 전략적 파트너십을 [발표](https://newsroom.amd.com/news/aai-2026-full-stack-compute-agentic-ai/ "새 창에서 열림")했습니다:
* 세계에서 가장 강력한 AI 서버 랙인 AMD Helios™ 랙스케일 솔루션을 출시했습니다. AMD Helios는 달러당 리더십 추론 토큰을 제공하며 Anthropic, Cirrascale, HUMAIN, Meta, Microsoft, OpenAI, Oracle, Tensorwave, Vultr 등 주요 AI 연구소 및 클라우드 제공업체에 배치되고 있습니다.
* 대규모 AI 훈련 및 추론을 위한 리더십 컴퓨팅, 메모리 용량 및 대역폭을 제공하는 MI455X를 포함한 [AMD Instinct MI400 시리즈 GPU 제품군](https://newsroom.amd.com/news/aai-2026-mi400-instinct-update/ "새 창에서 열림")과 HPC 및 소버린 AI 워크로드를 위한 가장 진보된 가속기인 MI430X를 출시했습니다.
* 에이전틱 AI, 범용 및 엔터프라이즈 워크로드 전반에 걸쳐 리더십 성능을 제공하도록 설계된 [6세대 AMD EPYC 서버 CPU](https://newsroom.amd.com/news/aai-2026-6th-gen-epyc/ "새 창에서 열림")를 소개했습니다.
* 개발자가 AMD 플랫폼 전반에서 더 빠르게 구축, 배포 및 최적화할 수 있도록 설계된 AI 네이티브 개발자 경험인 [ROCm.ai](http://rocm.ai/ "새 창에서 열림")를 출시했습니다.
* AMD Helios 랙에서 최대 2기가와트의 MI450 시리즈 GPU를 배치하고 Claude를 사용하여 AMD Instinct GPU 및 ROCm 소프트웨어 개발을 최적화하는 다년간 협력을 위한 [Anthropic과의 전략적 파트너십](https://newsroom.amd.com/news/amd-anthropic-strategic-partnership/ "새 창에서 열림")을 발표했습니다.
* 프론티어 모델 추론을 지원하기 위해 Azure에서 AMD Helios 랙을 대규모로 배치하는 [Microsoft와의 협력](https://newsroom.amd.com/news/microsoft-azure-ai-infrastructure/ "새 창에서 열림")을 확대했습니다. Azure는 또한 두 개의 새로운 AMD EPYC CPU 기반 VM 시리즈를 추가하고 Azure 네트워킹 서비스를 지원하기 위해 Pensando™ DPU 배치를 확대할 것입니다.
* 초저지연 추론 서비스의 효율성, 확장성 및 경제성을 개선하기 위해 AMD Helios와 Cerebras Wafer-Scale Engine을 결합하는 [Cerebras와의 협력](https://newsroom.amd.com/news/aai-2026-cerebras-inference/ "새 창에서 열림")을 발표했습니다.
* 기존 인프라에 원활한 AI 가속을 제공하도록 설계된 [AMD Instinct MI350P GPU](https://www.amd.com/en/blogs/2026/amd-instinct-mi350p-pcie-gpus-run-enterprise-ai-on-your.html "새 창에서 열림")를 출시했습니다.
* AI 워크로드의 메모리 사용을 최적화하고 사용 가능한 용량을 확장하도록 설계된 AI 기반 예측 메모리 기술을 추가하기 위해 [MEXT](https://www.amd.com/en/blogs/2026/amd-acquires-mext-for-memory-optimization.html "새 창에서 열림")를 인수했습니다.
* AMD는 기업, 개발자 및 게이머를 위한 PC 제품을 확장했습니다:
* 개발자가 AMD ROCm™ 오픈 소프트웨어 지원으로 최적화된 리더십 성능으로 에이전틱 AI 워크플로우를 로컬에서 구축, 테스트 및 실행할 수 있도록 특별히 설계된 [Ryzen AI Halo](https://www.amd.com/en/blogs/2026/amd-powers-next-generation-agent-computers-with-new-ryzen-ai-hal.html "새 창에서 열림") 시스템을 출시했습니다.
* 처음으로 엔터프라이즈 워크스테이션에 AMD 3D V-Cache™ 기술을 제공하는 [AMD Ryzen PRO 9000 시리즈 프로세서 라인업](https://www.amd.com/en/blogs/2026/amd-expands-amd-ryzen-pro-9000-series-processor-lineup.html "새 창에서 열림")을 확장했습니다.
* [AMD Ryzen 7700X3D 프로세서](https://www.amd.com/en/blogs/2026/amd-computex-2026-10-years-of-am4-am5-support-through.html "새 창에서 열림")를 출시하고 2029년까지 Socket AM5 플랫폼 지원을 연장하여 게이머에게 더 많은 성능과 수명을 제공했습니다.
* Cisco와 AMD는 AMD Ryzen AI Halo 시스템과 Cisco 네트워킹, 관찰 가능성 및 보안 기능을 결합하여 기업이 하이브리드 및 로컬 에이전틱 AI를 대규모로 배포, 관리 및 통제할 수 있도록 [협력](https://newsroom.amd.com/news/aai-2026-cisco-client-partnership-update/ "새 창에서 열림")하고 있습니다.
* [AMD Radeon RX 9070 GRE 그래픽 카드](https://www.amd.com/en/blogs/2026/amd-computex-2026-10-years-of-am4-am5-support-through.html "새 창에서 열림")의 글로벌 가용성을 확대하여 더 많은 게이머에게 성능과 고급 레이 트레이싱 기능을 제공했습니다.
* AMD는 적응형 및 임베디드 AI 포트폴리오를 확장했습니다:
* 로봇공학, 산업 자동화 및 지능형 임베디드 시스템에 전력을 공급하기 위해 CPU, GPU 및 AI 가속을 통합한 새로운 임베디드 x86 프로세서 제품군인 [AMD Ryzen™ AI Embedded X100 시리즈 프로세서](https://newsroom.amd.com/news/aai-2026-ryzen-ai-embedded-x100/ "새 창에서 열림")를 소개했습니다.
* 차세대 물리적 AI 시스템 개발을 가속화하기 위해 [AMD Kria AI 시스템 온 모듈](https://www.amd.com/en/products/system-on-modules/kria/ai.html "새 창에서 열림") 및 [AMD Kria AI 로봇공학 개발자 플랫폼](https://newsroom.amd.com/news/aai-2026-kria-robotics-dev-platform "새 창에서 열림")을 포함한 AMD Kria™ AI 솔루션을 발표했습니다.
* 테스트 및 측정, 전문 비디오 편집, 통신 및 항공우주 및 방위 워크로드의 데이터 전송 속도를 높이기 위해 [Versal™ Premium Series Gen 2 Memory on Package 적응형 SoC](https://www.amd.com/en/blogs/2026/amd-packs-more-memory-capacity--performance-in-a-smalle.html "새 창에서 열림")를 출시했습니다.
**현재 전망**
AMD의 전망 진술은 현재 기대를 기반으로 합니다. 다음 진술은 미래 예측 진술이며 실제 결과는 시장 상황 및 아래 "주의 진술"에 명시된 요인에 따라 크게 달라질 수 있습니다.
2026년 3분기에 대해 AMD는 매출이 약 130억 달러(플러스/마이너스 3억 달러)가 될 것으로 예상합니다. 매출 범위의 중간점은 전년 대비 약 41% 성장, 전분기 대비 약 13% 증가를 나타냅니다. 비GAAP 매출총이익률은 약 56%가 될 것으로 예상됩니다.
**AMD 전화 회의**
AMD는 오늘 오후 2시 PT(오후 5시 ET)에 2026년 2분기 재무 실적을 논의하기 위한 컨퍼런스 콜을 개최합니다. AMD는 웹사이트 [www.amd.com](http://www.amd.com "새 창에서 열림")의 [투자자 관계](http://ir.amd.com/ "새 창에서 열림") 페이지에서 컨퍼런스 콜의 실시간 오디오 방송을 제공할 것입니다.
**GAAP에서 비GAAP 재무 측정으로의 조정****(백만 달러, 주당 데이터 및 백분율 제외) (감사되지 않음)**
**3개월 종료**
**2026년 6월 27일**
**2026년 3월 28일**
**2025년 6월 28일**
**GAAP 매출총이익****$****6,203****$****5,416****$****3,059**
**_GAAP 매출총이익률_****_54_****_%_****_53_****_%_****_40_****_%_**
주식 기반 보상 8 8 6
인수 관련 무형자산 상각 260 261 260
인수 관련 및 기타 비용 (1)——1
법적 문제에 대한 우발 손실 17——
**비GAAP 매출총이익****$****6,488****$****5,685****$****3,326**
**_비GAAP 매출총이익률_****_56_****_%_****_55_****_%_****_43_****_%_**
**GAAP 영업비용****$****4,213****$****3,940****$****3,193**
**_GAAP 영업비용/매출 %_****_37_****_%_****_38_****_%_****_42_****_%_**
주식 기반 보상 495 479 363
인수 관련 무형자산 상각 284 290 308
인수 관련 및 기타 비용 (1)40 26 93
**비GAAP 영업비용****$****3,394****$****3,145****$****2,429**
**_비GAAP 영업비용/매출 %_****_29_****_%_****_31_****_%_****_32_****_%_**
**GAAP 영업이익(손실)****$****1,990****$****1,47
[원문 후반 발췌]
기술 또는 기타 지적 재산; 불리한 환율 변동; 제3자 제조업체가 AMD 제품을 적시에 충분한 수량으로 경쟁력 있는 기술을 사용하여 제조할 수 있는 능력; 필수 장비, 재료, 부품(예: 메모리 공급), 기판 또는 제조 공정의 가용성; AMD 제품의 예상 제조 수율 달성 능력; AMD의 반맞춤형 SoC 제품에서 수익을 창출할 수 있는 능력; 잠재적 보안 취약성; IT 중단, 데이터 손실, 데이터 침해 및 사이버 공격을 포함한 잠재적 보안 사고; AMD 제품의 주문 및 배송과 관련된 불확실성; 신제품을 설계하고 출시하기 위한 제3자 지적 재산에 대한 AMD의 의존; 마더보드, 소프트웨어, 메모리 및 기타 컴퓨터 플랫폼 구성 요소의 설계, 제조 및 공급을 위한 제3자 회사에 대한 AMD의 의존; AMD 제품에서 실행되는 소프트웨어를 설계하고 개발하기 위한 Microsoft 및 기타 소프트웨어 공급업체의 지원에 대한 AMD의 의존; 제3자 유통업체 및 애드인 보드 파트너에 대한 AMD의 의존; AMD의 내부 비즈니스 프로세스 및 정보 시스템의 수정 또는 중단의 영향; 일부 또는 모든 산업 표준 소프트웨어 및 하드웨어와 AMD 제품의 호환성
[원문 후반 발췌]
비GAAP 법인세 비용을 계산할 때 정규화된 세율을 사용하여 보고 기간 간에 더 나은 일관성을 제공합니다. 2026 회계연도에 AMD는 세전 비GAAP 조정의 세금 영향을 제외한 13%의 비GAAP 세율을 사용했습니다. AMD는 또한 성과에 대한 보충 비GAAP 측정으로 조정 EBITDA, 잉여현금흐름 및 잉여현금흐름 마진을 제공합니다. 이러한 항목은 이 실적 보도 자료 말미에 제공된 선택된 기업 데이터 표의 각주에 정의되어 있습니다. AMD는 이러한 재무 측정을 제공하는 이유는 이러한 비GAAP 표시가 투자자가 현재 및 과거 기간의 운영 결과를 비교하는 것을 더 쉽게 만들고, 또한 AMD가 핵심 운영 성과를 나타내지 않는다고 믿는 항목을 제외함으로써 일관된 기준으로 보고 기간 전반에 걸쳐 AMD의 성과를 비교하는 데 투자자를 지원한다고 믿기 때문이며, 선택된 데이터 표의 각주에 설명된 기타 이유 때문입니다. 이 실적 보도 자료에 공개된 비GAAP 재무 측정은 GAAP에 따라 준비된 AMD의 보고된 결과에 추가하여 또는 그 대체 또는 우월한 것으로 간주되어서는 안 되며 AMD의 연결 재무제표와 함께 읽어야 합니다.
[원문 후반 발췌]
61,373 63,365
비용 기준 자사주—(7,079)
이익잉여금 5,909 6,699
기타 포괄 손실 누계(74)(3)
**총 주주 자본**67,224 62,999
**총 부채 및 주주 자본**$84,464$76,926
**ADVANCED MICRO DEVICES, INC.**
**간결 연결 현금흐름표**
**(백만 달러) (감사되지 않음)**
**3개월 종료****6개월 종료**
**2026년 6월 27일**
**2025년 6월 28일**
**2026년 6월 27일**
**2025년 6월 28일**
영업 활동으로 인한 현금 흐름:
순이익$2,297$872$3,680$1,581
중단된 사업으로 인한 (이익) 손실, 세금 차감 후 8(104)(3)(104)
순이익을 영업 활동에서 제공된 순현금으로 조정하기 위한 조정:
감가상각 및 상각 221 189 427 364
인수 관련 무형자산 상각 544 568 1,095 1,135
주식 기반 보상 503 369 990 733
장기 투자 이익, 순(483)(38)(549)(36)
이연 법인세(27)(886)(106)(1,053)
기타 33 28 61 65
영업 자산 및 부채의 변동:
매출채권, 순(1,246)330(966)1,078
재고(423)(261)(548)(943)
선급 비용 및 기타 자산(683)(140)(991)(377)
매입채무 2,274 836 2,170 547
미지급 및 기타 부채(652)(301)61(589)
계속 영업에서 제공된 순현금 2,366 1,
[원문 후반 발췌]
이 보도 자료는 경영진이 이러한 현금 흐름의 성격을 투자자가 이해하는 것이 중요하다고 믿기 때문입니다. 회사의 잉여현금흐름 계산은 동일 산업의 다른 회사의 계산과 일치하지 않을 수 있습니다. 투자자는 잉여현금흐름을 영업 활동으로 인한 현금 흐름의 GAAP 유동성 측정에 대한 대안으로 보아서는 안 됩니다.
**연락처**
Carolyn Guss
AMD Communications
[corporate.pressinquiry@amd.com](mailto:corporate.pressinquiry@amd.com "새 창에서 열림")
Liz Stine
AMD Investor Relations
[investor.relations@amd.com](mailto:investor.relations@amd.com "새 창에서 열림")
[](https://www.globenewswire.com/NewsRoom/AttachmentNg/9782a337-07ac-424b-9c5a-f9cde47d8d55)
출처: Advanced Micro Devices, Inc.
2026년 8월 4일 발표
본문이 길어 34807자 중 15806자만 처리했습니다.
브리프용 요약 초안
AMD의 2026년 2분기 데이터센터 매출이 전년 대비 107% 증가하며 AI 인프라 수요가 지속되고 있음을 보여주었다. Instinct MI400 GPU와 Helios 랙스케일 솔루션, Anthropic과의 2GW 배치 협력은 향후 HBM 및 서버 메모리 수요에 긍정적이나, 구체적 메모리 탑재량과 시점은 확인되지 않았다. 메모리 산업에 대한 직접적 영향은 제한적이나, AI 가속기 확산이 장기적 메모리 수요를 견인할 가능성이 있다.
원문 텍스트
원문 열기 ↗SANTA CLARA, Calif., Aug. 04, 2026 (GLOBE NEWSWIRE) -- AMD (NASDAQ:AMD) today announced financial results for the second quarter of 2026. Second quarter revenue was $11.5 billion, gross margin was 54%, operating income was $2.0 billion, net income was $2.3 billion and diluted earnings per share was $1.38. On a non-GAAP(*) basis, gross margin was 56%, operating income was $3.1 billion, net income was $2.8 billion and diluted earnings per share was $1.66.
“We delivered an excellent quarter, with record revenue and profitability as Data Center revenue more than doubled year-over-year,” said Dr. Lisa Su, AMD chair and CEO. “We enter the second half with strong momentum as EPYC demand accelerates, Instinct deployments scale and Helios begins to ramp. More broadly, AI is driving a significant expansion in demand for compute across all of our markets, and our leadership portfolio and growing customer visibility position us exceptionally well to capture this expanding opportunity and deliver substantial revenue and earnings growth in the years ahead.”
“Revenue increased 50% year-over-year to a record $11.5 billion, driven by continued strength in our Data Center business, which represented 58% of company revenue in the quarter,” said Jean Hu, AMD executive vice president, chief financial officer and treasurer. “We expect Data Center sales to accelerate in the second half of 2026, driving stronger overall revenue growth and continued earnings expansion.”
## **GAAP Quarterly Financial Results**
**Q2'26****Q2'25**(1)**Y/Y**(1)**Q1'26****Q/Q**
Revenue ($M)$11,536$7,685 Up 50%$10,253 Up 13%
Gross profit ($M)$6,203$3,059 Up 103%$5,416 Up 15%
Gross margin 54%40%Up 14 ppts 53%Up 1 ppt
Operating expenses ($M)$4,213$3,193 Up 32%$3,940 Up 7%
Operating income ($M)$1,990$(134)Up 1585%$1,476 Up 35%
Operating margin 17%(2)%Up 19 ppts 14%Up 3 ppts
Net income ($M)$2,297$872 Up 163%$1,383 Up 66%
Diluted earnings per share$1.38$0.54 Up 156%$0.84 Up 64%
(1) Q2’25 results included $800 million in inventory and related charges due to the U.S. Government's export control on AMD Instinct™ MI308 data center GPU products
## **Non-GAAP(*) Quarterly Financial Results**
**Q2'26****Q2'25**(2)**Y/Y**(2)**Q1'26****Q/Q**
Revenue ($M)$11,536$7,685 Up 50%$10,253 Up 13%
Gross profit ($M)$6,488$3,326 Up 95%$5,685 Up 14%
Gross margin 56%43%Up 13 ppts 55%Up 1 ppt
Operating expenses ($M)$3,394$2,429 Up 40%$3,145 Up 8%
Operating income ($M)$3,094$897 Up 245%$2,540 Up 22%
Operating margin 27%12%Up 15 ppts 25%Up 2 ppts
Net income ($M)$2,760$781 Up 253%$2,265 Up 22%
Diluted earnings per share$1.66$0.48 Up 246%$1.37 Up 21%
(2) Q2’25 results included $800 million in inventory and related charges due to the U.S. Government's export control on AMD Instinct™ MI308 data center GPU products
**Segment Summary**
* Data Center segment revenue was $6.7 billion, up 107% year-over-year, driven by strong demand for AMD EPYC™ processors and AMD Instinct™ GPUs.
* Client and Gaming segment revenue was $3.8 billion, up 6% year-over-year. Client business revenue was $3.1 billion, up 23% year-over-year, primarily driven by strong demand for AMD Ryzen™ processors. Gaming business revenue was $779 million, down 31% year-over-year, due to lower semi-custom revenue.
* Embedded segment revenue was $977 million, up 19% year-over-year, as demand strengthened across multiple end markets.
**Recent Highlights**
* AMD [announced](https://newsroom.amd.com/news/aai-2026-full-stack-compute-agentic-ai/ "Opens in a new window") a broad portfolio of high-performance and AI computing solutions and strategic partnerships to accelerate AI deployments at scale:
* Launched the AMD Helios™ rackscale solution, the world’s most powerful AI server rack. AMD Helios delivers leadership inference tokens per dollar and is being deployed by leading AI labs and cloud providers including Anthropic, Cirrascale, HUMAIN, Meta, Microsoft, OpenAI, Oracle, Tensorwave, Vultr and others.
* Launched the [AMD Instinct MI400 Series GPU family](https://newsroom.amd.com/news/aai-2026-mi400-instinct-update/ "Opens in a new window"), including MI455X, bringing leadership compute, memory capacity and bandwidth for large-scale AI training and inference, and MI430X, the most advanced accelerator for HPC and sovereign AI workloads.
* Introduced [6th Gen AMD EPYC server CPUs](https://newsroom.amd.com/news/aai-2026-6th-gen-epyc/ "Opens in a new window"), built to deliver leadership performance across the full range of agentic AI, general-purpose and enterprise workloads.
* Released [ROCm.ai](http://rocm.ai/ "Opens in a new window"), an AI-native developer experience designed to help developers build, deploy and optimize faster across AMD platforms.
* Announced a strategic [partnership with Anthropic](https://newsroom.amd.com/news/amd-anthropic-strategic-partnership/ "Opens in a new window") to deploy up to 2 gigawatts of MI450 Series GPUs in AMD Helios racks and a multiyear collaboration to optimize AMD Instinct GPUs and ROCm software development using Claude.
* Expanded [collaboration with Microsoft](https://newsroom.amd.com/news/microsoft-azure-ai-infrastructure/ "Opens in a new window") to deploy AMD Helios racks at scale on Azure to power frontier model inference. Azure will also add two new AMD EPYC CPU-powered VM series and broaden its deployment of Pensando™ DPUs to support Azure networking services.
* Announced a [collaboration with Cerebras](https://newsroom.amd.com/news/aai-2026-cerebras-inference/ "Opens in a new window") to bring together AMD Helios and Cerebras Wafer-Scale Engine to improve efficiency, scalability and economics for ultra-low-latency inference serving.
* Launched the [AMD Instinct MI350P GPU](https://www.amd.com/en/blogs/2026/amd-instinct-mi350p-pcie-gpus-run-enterprise-ai-on-your.html "Opens in a new window"), designed to bring seamless AI acceleration to existing infrastructure with leadership token economics.
* Acquired [MEXT](https://www.amd.com/en/blogs/2026/amd-acquires-mext-for-memory-optimization.html "Opens in a new window"), adding AI-powered predictive memory technology designed to optimize memory use and expand usable capacity for AI workloads.
* AMD extended its PC offerings for enterprises, developers and gamers:
* Released [Ryzen AI Halo](https://www.amd.com/en/blogs/2026/amd-powers-next-generation-agent-computers-with-new-ryzen-ai-hal.html "Opens in a new window") systems, purpose-built for developers to build, test and run agentic AI workflows locally with leadership performance optimized by AMD ROCm™ open software support.
* Expanded the [AMD Ryzen PRO 9000 Series processor lineup](https://www.amd.com/en/blogs/2026/amd-expands-amd-ryzen-pro-9000-series-processor-lineup.html "Opens in a new window"), bringing AMD 3D V-Cache™ technology to enterprise workstations for the first time.
* Launched [AMD Ryzen 7700X3D processors](https://www.amd.com/en/blogs/2026/amd-computex-2026-10-years-of-am4-am5-support-through.html "Opens in a new window") and extended support for Socket AM5 platforms through 2029, giving gamers more performance and longevity.
* Cisco and AMD are [collaborating](https://newsroom.amd.com/news/aai-2026-cisco-client-partnership-update/ "Opens in a new window") to bring together AMD Ryzen AI Halo systems with Cisco networking, observability and security capabilities, so enterprises can deploy, govern and manage hybrid and local agentic AI at scale.
* Expanded global availability of [AMD Radeon RX 9070 GRE graphics cards](https://www.amd.com/en/blogs/2026/amd-computex-2026-10-years-of-am4-am5-support-through.html "Opens in a new window"), extending performance and advanced ray tracing capabilities to more gamers.
* AMD expanded its adaptive and embedded AI portfolio:
* Introduced [AMD Ryzen™ AI Embedded X100 Series processors](https://newsroom.amd.com/news/aai-2026-ryzen-ai-embedded-x100/ "Opens in a new window"), a new family of embedded x86 processors integrating CPU, GPU and AI acceleration to power robotics, industrial automation and intelligent embedded systems.
* Announced AMD Kria™ AI solutions, including [AMD Kria AI system-on-modules](https://www.amd.com/en/products/system-on-modules/kria/ai.html "Opens in a new window") and the[AMD Kria AI Robotics Developer Platform](https://newsroom.amd.com/news/aai-2026-kria-robotics-dev-platform "Opens in a new window") to accelerate the development of next-generation physical AI systems.
* Launched [Versal™ Premium Series Gen 2 Memory on Package adaptive SoCs](https://www.amd.com/en/blogs/2026/amd-packs-more-memory-capacity--performance-in-a-smalle.html "Opens in a new window"), to speed data transfer for test and measurement, professional video editing, communications and aerospace and defense workloads.
**Current Outlook**
AMD’s outlook statements are based on current expectations. The following statements are forward-looking and actual results could differ materially depending on market conditions and the factors set forth under “Cautionary Statement” below.
For the third quarter of 2026, AMD expects revenue to be approximately $13 billion, plus or minus $300 million. The mid-point of the revenue range represents year-over-year growth of approximately 41% and a sequential increase of approximately 13%. Non-GAAP gross margin is expected to be approximately 56%.
**AMD Teleconference**
AMD will hold a conference call at 2:00 p.m. PT (5:00 p.m. ET) today to discuss its second quarter 2026 financial results. AMD will provide a real-time audio broadcast of the teleconference on the[Investor Relations](http://ir.amd.com/ "Opens in a new window") page of its website at [www.amd.com](http://www.amd.com/ "Opens in a new window").
**RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES****(in millions, except per share data and percentages) (Unaudited)**
**Three Months Ended**
**June 27,**
**2026****March 28,**
**2026****June 28,**
**2025**
**GAAP gross profit****$****6,203****$****5,416****$****3,059**
**_GAAP gross margin_****_54_****_%_****_53_****_%_****_40_****_%_**
Stock-based compensation 8 8 6
Amortization of acquisition-related intangibles 260 261 260
Acquisition-related and other costs (1)——1
Loss contingency on legal matters 17——
**Non-GAAP gross profit****$****6,488****$****5,685****$****3,326**
**_Non-GAAP gross margin_****_56_****_%_****55****%****43****%**
**GAAP operating expenses****$****4,213****$****3,940****$****3,193**
**_GAAP operating expenses/revenue %_****_37_****_%_****_38_****_%_****_42_****_%_**
Stock-based compensation 495 479 363
Amortization of acquisition-related intangibles 284 290 308
Acquisition-related and other costs (1)40 26 93
**Non-GAAP operating expenses****$****3,394****$****3,145****$****2,429**
**_Non-GAAP operating expenses/revenue %_****_29_****_%_****31****%****32****%**
**GAAP operating income (loss)****$****1,990****$****1,476****$****(134****)**
**_GAAP operating margin_****_17_****_%_****_14_****_%_****_(2_****_)_****_%_**
Stock-based compensation 503 487 369
Amortization of acquisition-related intangibles 544 551 568
Acquisition-related and other costs (1)40 26 94
Loss contingency on legal matters 17——
**Non-GAAP operating income****$****3,094****$****2,540****$****897**
**_Non-GAAP operating margin_****_27_****_%_****25****%****12****%**
**Three Months Ended**
**June 27,**
**2026****March 28,**
**2026****June 28,**
**2025**
**GAAP net income / earnings per share****$****2,297****$****1.38****$****1,383****$****0.84****$****872****$****0.54**
Stock-based compensation 503 0.30 487 0.30 369 0.23
Amortization of acquisition-related intangibles 544 0.33 551 0.33 568 0.35
Acquisition-related and other costs (1)41 0.02 27 0.02 96 0.05
Loss contingency on legal matters 17 0.01————
(Gains) loss on long-term investments, net(483)(0.29)(66)(0.04)(61)(0.04)
Equity income in investee(6)—(6)—(8)—
Release of reserves for uncertain tax positions (2)————(853)(0.52)
Income tax provision(161)(0.10)(100)(0.07)(98)(0.06)
Loss (income) from discontinued operations, net of tax(3)8 0.01(11)(0.01)(104)(0.07)
**Non-GAAP net income / earnings per share****$****2,760****$****1.66****$****2,265****$****1.37****$****781****$****0.48**
(1)Acquisition-related and other costs primarily include transaction costs, purchase price fair value adjustments for inventory, certain compensation charges, and workforce rebalancing charges.
(2)Release of reserves for uncertain tax positions pertains to the reasonable cause relief related to dual consolidated losses approved by the Internal Revenue Service in Q2'25.
(3)Loss (income) from discontinued operations relates to ZT Systems' manufacturing business which was divested in Q4'25, and includes impact from measurement period adjustments in Q1'26.
**About AMD**
AMD (NASDAQ: AMD) drives innovation in high-performance and AI computing to solve the world’s most important challenges. Today, AMD technology powers billions of experiences across cloud and AI infrastructure, embedded systems, AI PCs and gaming. With a broad portfolio of AI-optimized CPUs, GPUs, networking and software, AMD delivers full-stack AI solutions that provide the performance and scalability needed for a new era of intelligent computing. Learn more at [www.amd.com](http://www.amd.com/ "Opens in a new window").
**Cautionary Statement**
This press release contains forward-looking statements concerning Advanced Micro Devices, Inc. (AMD) such as, AMD’s strong momentum in the second half of 2026; AI driving compute demand across AMD’s markets; AMD being well positioned to capture expanding opportunity; AMD’s ability to deliver substantial revenue and earnings growth in the years ahead; acceleration of AMD’s Data Center sales growth in second half of 2026 driving stronger overall revenue growth and continued earnings expansion; the strategic partnership with Anthropic and the deployment of up to two gigawatts of AMD Instinct GPUs in AMD Helios rack-scale solutions and multiyear collaboration; expected plans, benefits and timing of AMD’s partnerships and strategic collaborations, including with Microsoft, Cerebras and Cisco; the features, functionality, performance, availability, timing and expected benefits of future AMD products; and AMD’s expected third quarter 2026 financial outlook, including revenue and non-GAAP gross margin, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as "would," "may," "expects," "believes," "plans," "intends," "projects" and other terms with similar meaning. Investors are cautioned that the forward-looking statements in this press release are based on current beliefs, assumptions and expectations, speak only as of the date of this press release and involve risks and uncertainties that could cause actual results to differ materially from current expectations. Such statements are subject to certain known and unknown risks and uncertainties, many of which are difficult to predict and are generally beyond AMD’s control, that could cause actual results and other future events to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Material factors that could cause actual results to differ materially from current expectations include, without limitation, the following: impact of government actions and regulations such as export regulations, national-security-based regulations, import tariffs, trade protection measures, and licensing requirements; competitive markets in which AMD’s products are sold; the cyclical nature of the semiconductor industry; market conditions of the industries in which AMD products are sold; AMD's ability to introduce products on a timely basis with expected features and performance levels; loss of a significant customer; economic and market uncertainty; quarterly and seasonal sales patterns; AMD's ability to adequately protect its technology or other intellectual property; unfavorable currency exchange rate fluctuations; ability of third party manufacturers to manufacture AMD's products on a timely basis in sufficient quantities and using competitive technologies; availability of essential equipment, materials, components (such as memory supply), substrates or manufacturing processes; ability to achieve expected manufacturing yields for AMD’s products; AMD's ability to generate revenue from its semi-custom SoC products; potential security vulnerabilities; potential security incidents including IT outages, data loss, data breaches and cyberattacks; uncertainties involving the ordering and shipment of AMD’s products; AMD’s reliance on third-party intellectual property to design and introduce new products; AMD's reliance on third-party companies for design, manufacture and supply of motherboards, software, memory and other computer platform components; AMD's reliance on Microsoft and other software vendors' support to design and develop software to run on AMD’s products; AMD’s reliance on third-party distributors and add-in-board partners; impact of modification or interruption of AMD’s internal business processes and information systems; compatibility of AMD’s products with some or all industry-standard software and hardware; costs related to defective products; failure to maintain an efficient supply chain as customer demand changes; AMD's ability to rely on third party supply-chain logistics functions; AMD’s ability to effectively control sales of its products on the gray market; impact of climate change on AMD’s business; AMD’s ability to realize its deferred tax assets; potential tax liabilities; current and future claims and litigation; impact of environmental laws, conflict minerals related provisions and other laws or regulations; evolving expectations from governments, investors, customers and other stakeholders regarding corporate responsibility matters; issues related to the responsible use of AI; restrictions imposed by agreements governing AMD’s notes, the guarantees of Xilinx’s notes and the revolving credit agreement; AMD’s ability to satisfy financial obligations under guarantees, leases and other commercial commitments; impact of acquisitions, joint ventures and/or investments on AMD’s business and AMD’s ability to integrate acquired businesses; impact of any impairment of the combined company’s assets; political, legal and economic risks and natural disasters; future impairments of technology license purchases; AMD’s ability to attract and retain key employees; and AMD’s stock price volatility. Investors are urged to review in detail the risks and uncertainties in AMD’s Securities and Exchange Commission filings, including but not limited to AMD’s most recent reports on Forms 10-K and 10-Q.
(*)In this earnings press release, in addition to GAAP financial results, AMD has provided non-GAAP financial measures including non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating expenses/revenue percent, non-GAAP operating income, non-GAAP operating margin, non-GAAP net income and non-GAAP diluted earnings per share. AMD uses a normalized tax rate in its computation of the non-GAAP income tax provision to provide better consistency across the reporting periods. For fiscal 2026, AMD used a non-GAAP tax rate of 13%, which excludes the tax impact of pre-tax non-GAAP adjustments. AMD also provides adjusted EBITDA, free cash flow and free cash flow margin as supplemental non-GAAP measures of its performance. These items are defined in the footnotes to the selected corporate data tables provided at the end of this earnings press release. AMD is providing these financial measures because it believes this non-GAAP presentation makes it easier for investors to compare its operating results for current and historical periods and also because AMD believes it assists investors in comparing AMD’s performance across reporting periods on a consistent basis by excluding items that it does not believe are indicative of its core operating performance and for the other reasons described in the footnotes to the selected data tables. The non-GAAP financial measures disclosed in this earnings press release should be viewed in addition to and not as a substitute for or superior to AMD’s reported results prepared in accordance with GAAP and should be read only in conjunction with AMD’s Consolidated Financial Statements prepared in accordance with GAAP. These non-GAAP financial measures referenced are reconciled to their most directly comparable GAAP financial measures in the data tables in this earnings press release. This earnings press release also contains forward-looking non-GAAP gross margin concerning AMD’s financial outlook, which is based on current expectations as of August 4, 2026, and assumptions and beliefs that involve numerous risks and uncertainties. Adjustments to arrive at the GAAP gross margin outlook typically include stock-based compensation, amortization of acquired intangible assets and acquisition-related and other costs. The timing and impact of such adjustments are dependent on future events that are typically uncertain or outside of AMD's control, therefore, a reconciliation to equivalent GAAP measures is not practicable at this time. AMD undertakes no intent or obligation to publicly update or revise its outlook statements as a result of new information, future events or otherwise, except as may be required by law.
-30-
**_©2026 Advanced Micro Devices, Inc. All rights reserved. AMD, the AMD Arrow logo, 3D V-Cache, Alveo, AMD Instinct, EPYC, FidelityFX, Helios, Kria, Radeon, Ryzen, Threadripper, Ultrascale+, Versal, Zynq, and combinations thereof, are trademarks of Advanced Micro Devices, Inc._**
**ADVANCED MICRO DEVICES, INC.**
**CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS**
**(Millions except per share amounts and percentages) (Unaudited)**
**Three Months Ended****Six Months Ended**
**June 27,**
**2026****March 28,**
**2026****June 28,**
**2025****June 27,**
**2026****June 28,**
**2025**
Net revenue$11,536$10,253$7,685$21,789$15,123
Cost of sales 5,073 4,576 4,366 9,649 7,817
Amortization of acquisition-related intangibles 260 261 260 521 511
Total cost of sales 5,333 4,837 4,626 10,170 8,328
Gross profit 6,203 5,416 3,059 11,619 6,795
Gross margin 54%53%40%53%45%
Research and development 2,528 2,397 1,894 4,925 3,622
Marketing, general and administrative 1,401 1,253 991 2,654 1,877
Amortization of acquisition-related intangibles 284 290 308 574 624
Total operating expenses 4,213 3,940 3,193 8,153 6,123
Operating income (loss)1,990 1,476(134)3,466 672
Interest expense(37)(37)(38)(74)(58)
Other income (expense), net 598 165 98 763 137
Income (loss) from continuing operations before income taxes and equity income 2,551 1,604(74)4,155 751
Income tax provision (benefit)252 238(834)490(711)
Equity income in investee 6 6 8 12 15
Income from continuing operations, net of tax 2,305 1,372 768 3,677 1,477
(Loss) income from discontinued operations, net of tax(8)11 104 3 104
Net income$2,297$1,383$872$3,680$1,581
Earnings per share:
Basic earnings from continuing operations$1.41$0.84$0.47$2.25$0.91
Basic earnings from discontinued operations$(0.01)$0.01$0.07$0.01$0.07
Basic earnings per share$1.40$0.85$0.54$2.26$0.98
Diluted earnings from continuing operations$1.39$0.83$0.47$2.22$0.91
Diluted earnings from discontinued operations$(0.01)$0.01$0.07$—$0.06
Diluted earnings per share$1.38$0.84$0.54$2.22$0.97
Shares used in per share calculation
Basic 1,632 1,631 1,623 1,631 1,621
Diluted 1,659 1,650 1,630 1,655 1,628
**ADVANCED MICRO DEVICES, INC.**
**CONDENSED CONSOLIDATED BALANCE SHEETS**
**(Millions)**
**June 27,**
**2026****December 27,**
**2025**
(Unaudited)
**ASSETS**
**Current assets:**
Cash and cash equivalents$5,086$5,539
Short-term investments 8,025 5,013
Accounts receivable, net 7,281 6,315
Inventories 8,468 7,920
Prepaid expenses and other current assets 2,662 2,160
**Total current assets**31,522 26,947
Property and equipment, net 3,439 2,312
Goodwill 25,470 25,126
Acquisition-related intangibles, net 15,635 16,705
Deferred tax assets 494 384
Other non-current assets 7,904 5,452
**Total Assets**$84,464$76,926
**LIABILITIES AND STOCKHOLDERS' EQUITY**
**Current liabilities:**
Accounts payable$5,359$2,929
Accrued liabilities 5,546 5,250
Current portion of long-term debt, net 875 874
Other current liabilities 301 402
**Total current liabilities**12,081 9,455
Long-term debt 2,351 2,348
Long-term operating lease liabilities 1,050 625
Deferred tax liabilities 300 313
Other long-term liabilities 1,458 1,186
**Stockholders' equity:**
Capital stock:
Common stock, par value $0.01 16 17
Additional paid-in capital 61,373 63,365
Treasury stock, at cost—(7,079)
Retained earnings 5,909 6,699
Accumulated other comprehensive loss(74)(3)
**Total stockholders' equity**67,224 62,999
**Total Liabilities and Stockholders' Equity**$84,464$76,926
**ADVANCED MICRO DEVICES, INC.**
**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS**
**(Millions) (Unaudited)**
**Three Months Ended****Six Months Ended**
**June 27,**
**2026****June 28,**
**2025****June 27,**
**2026****June 28,**
**2025**
Cash flows from operating activities:
Net income$2,297$872$3,680$1,581
(Income) loss from discontinued operations, net of tax 8(104)(3)(104)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 221 189 427 364
Amortization of acquisition-related intangibles 544 568 1,095 1,135
Stock-based compensation 503 369 990 733
Gains from long-term investments, net(483)(38)(549)(36)
Deferred income taxes(27)(886)(106)(1,053)
Other 33 28 61 65
Changes in operating assets and liabilities:
Accounts receivable, net(1,246)330(966)1,078
Inventories(423)(261)(548)(943)
Prepaid expenses and other assets(683)(140)(991)(377)
Accounts payable 2,274 836 2,170 547
Accrued and other liabilities(652)(301)61(589)
Net cash provided by operating activities of continuing operations 2,366 1,462 5,321 2,401
Net cash provided by operating activities of discontinued operations—549—549
Net cash provided by operating activities 2,366 2,011 5,321 2,950
Cash flows from investing activities:
Purchases of property and equipment(808)(282)(1,197)(494)
Purchases of short-term investments(2,010)(492)(4,555)(796)
Proceeds from maturity of short-term investments 615 318 1,267 683
Proceeds from sale of short-term investments 160 15 286 48
Purchases of long-term investments(435)(119)(844)(358)
Acquisitions, net of cash acquired(129)(1,716)(129)(1,716)
Net cash used in investing activities of continuing operations(2,607)(2,276)(5,172)(2,633)
Purchases of property and equipment—(22)—(22)
Payment for working capital adjustment on divestiture(243)—(243)—
Net cash used in investing activities of discontinued operations(243)(22)(243)(22)
Net cash used in investing activities(2,850)(2,298)(5,415)(2,655)
Cash flows from financing activities:
Proceeds from debt and commercial paper issuance, net of issuance costs———2,441
Repayment of debt and commercial paper—(950)—(950)
Proceeds from sales of common stock through employee equity plans 200 155 205 159
Repurchases of common stock—(478)(221)(1,227)
Stock repurchases for tax withholding on employee equity plans(207)(46)(341)(76)
Other(8)—(8)—
Net cash provided by (used in) financing activities(15)(1,319)(365)347
Net increase (decrease) in cash, cash equivalents and restricted cash(499)(1,606)(459)642
Cash, cash equivalents and restricted cash at beginning of period 5,596 6,059 5,556 3,811
Cash, cash equivalents and restricted cash at end of period$5,097$4,453$5,097$4,453
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents$5,086$4,442$5,086$4,442
Restricted cash included in Prepaid expenses and other current assets 11 11 11 11
Cash, cash equivalents and restricted cash at end of period$5,097$4,453$5,097$4,453
**ADVANCED MICRO DEVICES, INC.**
**SELECTED CORPORATE DATA**
**(Millions) (Unaudited)**
**Three Months Ended****Six Months Ended**
**June 27,**
**2026****March 28,**
**2026****June 28,**
**2025****June 27,**
**2026****June 28,**
**2025**
**Segment and Disaggregated Revenue Information****(1)**
**Net Revenue:**
Data Center Segment$6,718$5,775$3,240$12,493$6,914
Client and Gaming Segment
Client 3,062 2,885 2,499 5,947 4,793
Gaming 779 720 1,122 1,499 1,769
Total Client and Gaming 3,841 3,605 3,621 7,446 6,562
Embedded Segment 977 873 824 1,850 1,647
**Total net revenue**$11,536$10,253$7,685$21,789$15,123
**Operating Income (Loss):**
Data Center Segment$2,103$1,599$(155)$3,702$777
Client and Gaming Segment 582 575 767 1,157 1,263
Embedded Segment 386 338 275 724 603
All other(1,081)(1,036)(1,021)(2,117)(1,971)
**Total operating income (loss)**$1,990$1,476$(134)$3,466$672
**Other Data**
Capital expenditures$808$389$282$1,197$494
Adjusted EBITDA (2)$3,315$2,746$1,086$6,061$3,040
Cash, cash equivalents and short-term investments$13,111$12,347$5,867$13,111$5,867
Free cash flow (3)$1,558$2,566$1,180$4,124$1,907
Total assets$84,464$79,642$74,820$84,464$74,820
Total debt$3,226$3,224$3,218$3,226$3,218
(1)The Company operates as three operating segments, Data Center, Client and Gaming, and Embedded segments.
The Data Center segment primarily includes Artificial Intelligence (AI) accelerators, microprocessors (CPUs) for servers, graphics processing units (GPUs), accelerated processing units (APUs), data processing units (DPUs), AI Network Interface Cards (AI NICs), Field Programmable Gate Arrays (FPGAs) and adaptive System-on-Chip (SoC) products for data centers.
The Client and Gaming segment primarily includes CPUs, APUs, chipsets for desktops and notebooks, discrete GPUs, and semi-custom SoC products and development services.
The Embedded segment primarily includes embedded CPUs, APUs, FPGAs, System on Modules (SOMs), and adaptive SoC products.
From time to time, the Company may also sell or license portions of its IP portfolio.
All Other category primarily includes certain expenses and credits that are not allocated to any of the operating segments, such as amortization of acquisition-related intangibles, employee stock-based compensation expense, and acquisition-related and other costs.
(2)**Reconciliation of GAAP Net Income to Adjusted EBITDA**
**Three Months Ended****Six Months Ended**
**(Millions) (Unaudited)****June 27,**
**2026****March 28,**
**2026****June 28,**
**2025****June 27,**
**2026****June 28,**
**2025**
GAAP net income$2,297$1,383$872$3,680$1,581
Interest expense 37 37 38 74 58
Other (income) expense, net(598)(165)(98)(763)(137)
Income tax provision (benefit)252 238(834)490(711)
Equity income in investee(6)(6)(8)(12)(15)
Stock-based compensation 503 487 369 990 733
Depreciation and amortization 221 206 189 427 364
Amortization of acquisition-related intangibles 544 551 568 1,095 1,135
Acquisition-related and other costs 40 26 94 66 136
Loss contingency on legal matters 17——17—
Loss (income) from discontinued operations, net of tax 8(11)(104)(3)(104)
Adjusted EBITDA$3,315$2,746$1,086$6,061$3,040
The Company presents “Adjusted EBITDA” as a supplemental measure of its performance. Adjusted EBITDA for the Company is determined by adjusting GAAP net income for interest expense, other (income) expense, net, income tax provision (benefit), equity income in investee, stock-based compensation, depreciation and amortization expense, amortization of acquisition-related intangibles, acquisition-related and other costs, loss contingency on legal matters, and loss (income) from discontinued operations, net of tax. The Company calculates and presents Adjusted EBITDA because management believes it is of importance to investors and lenders in relation to its overall capital structure and its ability to borrow additional funds. In addition, the Company presents Adjusted EBITDA because it believes this measure assists investors in comparing its performance across reporting periods on a consistent basis by excluding items that the Company does not believe are indicative of its core operating performance. The Company’s calculation of Adjusted EBITDA may or may not be consistent with the calculation of this measure by other companies in the same industry. Investors should not view Adjusted EBITDA as an alternative to the GAAP operating measure of net income or GAAP liquidity measures of cash flows from operating, investing and financing activities. In addition, Adjusted EBITDA does not take into account changes in certain assets and liabilities that can affect cash flows.
(3)**Reconciliation of GAAP Net Cash Provided by Operating Activities of Continuing Operations to Free Cash Flow**
**Three Months Ended****Six Months Ended**
**(Millions except percentages) (Unaudited)****June 27,**
**2026****March 28,**
**2026****June 28,**
**2025****June 27,**
**2026****June 28,**
**2025**
GAAP net cash provided by operating activities of continuing operations$2,366$2,955$1,462$5,321$2,401
_Operating cash flow margin % from continuing operations_ _21_ _%_ _29_ _%_ _19_ _%_ _24_ _%_ _16_ _%_
Purchases of property and equipment(808)(389)(282)(1,197)(494)
Free cash flow$1,558$2,566$1,180$4,124$1,907
_Free cash flow margin %_ _14_ _%_ _25_ _%_ _15_ _%_ _19_ _%_ _13_ _%_
The Company also presents free cash flow as a supplemental Non-GAAP measure of its performance. Free cash flow is determined by adjusting GAAP net cash provided by operating activities of continuing operations for capital expenditures, and free cash flow margin % is free cash flow expressed as a percentage of the Company's net revenue. The Company calculates and communicates free cash flow in the financial earnings press release because management believes it is of importance to investors to understand the nature of these cash flows. The Company’s calculation of free cash flow may or may not be consistent with the calculation of this measure by other companies in the same industry. Investors should not view free cash flow as an alternative to GAAP liquidity measures of cash flows from operating activities.
**Contact**
Carolyn Guss
AMD Communications
[corporate.pressinquiry@amd.com](mailto:corporate.pressinquiry@amd.com "Opens in a new window")
Liz Stine
AMD Investor Relations
[investor.relations@amd.com](mailto:investor.relations@amd.com "Opens in a new window")
[](https://www.globenewswire.com/NewsRoom/AttachmentNg/9782a337-07ac-424b-9c5a-f9cde47d8d55)
Source: Advanced Micro Devices, Inc.
Released August 4, 2026
“We delivered an excellent quarter, with record revenue and profitability as Data Center revenue more than doubled year-over-year,” said Dr. Lisa Su, AMD chair and CEO. “We enter the second half with strong momentum as EPYC demand accelerates, Instinct deployments scale and Helios begins to ramp. More broadly, AI is driving a significant expansion in demand for compute across all of our markets, and our leadership portfolio and growing customer visibility position us exceptionally well to capture this expanding opportunity and deliver substantial revenue and earnings growth in the years ahead.”
“Revenue increased 50% year-over-year to a record $11.5 billion, driven by continued strength in our Data Center business, which represented 58% of company revenue in the quarter,” said Jean Hu, AMD executive vice president, chief financial officer and treasurer. “We expect Data Center sales to accelerate in the second half of 2026, driving stronger overall revenue growth and continued earnings expansion.”
## **GAAP Quarterly Financial Results**
**Q2'26****Q2'25**(1)**Y/Y**(1)**Q1'26****Q/Q**
Revenue ($M)$11,536$7,685 Up 50%$10,253 Up 13%
Gross profit ($M)$6,203$3,059 Up 103%$5,416 Up 15%
Gross margin 54%40%Up 14 ppts 53%Up 1 ppt
Operating expenses ($M)$4,213$3,193 Up 32%$3,940 Up 7%
Operating income ($M)$1,990$(134)Up 1585%$1,476 Up 35%
Operating margin 17%(2)%Up 19 ppts 14%Up 3 ppts
Net income ($M)$2,297$872 Up 163%$1,383 Up 66%
Diluted earnings per share$1.38$0.54 Up 156%$0.84 Up 64%
(1) Q2’25 results included $800 million in inventory and related charges due to the U.S. Government's export control on AMD Instinct™ MI308 data center GPU products
## **Non-GAAP(*) Quarterly Financial Results**
**Q2'26****Q2'25**(2)**Y/Y**(2)**Q1'26****Q/Q**
Revenue ($M)$11,536$7,685 Up 50%$10,253 Up 13%
Gross profit ($M)$6,488$3,326 Up 95%$5,685 Up 14%
Gross margin 56%43%Up 13 ppts 55%Up 1 ppt
Operating expenses ($M)$3,394$2,429 Up 40%$3,145 Up 8%
Operating income ($M)$3,094$897 Up 245%$2,540 Up 22%
Operating margin 27%12%Up 15 ppts 25%Up 2 ppts
Net income ($M)$2,760$781 Up 253%$2,265 Up 22%
Diluted earnings per share$1.66$0.48 Up 246%$1.37 Up 21%
(2) Q2’25 results included $800 million in inventory and related charges due to the U.S. Government's export control on AMD Instinct™ MI308 data center GPU products
**Segment Summary**
* Data Center segment revenue was $6.7 billion, up 107% year-over-year, driven by strong demand for AMD EPYC™ processors and AMD Instinct™ GPUs.
* Client and Gaming segment revenue was $3.8 billion, up 6% year-over-year. Client business revenue was $3.1 billion, up 23% year-over-year, primarily driven by strong demand for AMD Ryzen™ processors. Gaming business revenue was $779 million, down 31% year-over-year, due to lower semi-custom revenue.
* Embedded segment revenue was $977 million, up 19% year-over-year, as demand strengthened across multiple end markets.
**Recent Highlights**
* AMD [announced](https://newsroom.amd.com/news/aai-2026-full-stack-compute-agentic-ai/ "Opens in a new window") a broad portfolio of high-performance and AI computing solutions and strategic partnerships to accelerate AI deployments at scale:
* Launched the AMD Helios™ rackscale solution, the world’s most powerful AI server rack. AMD Helios delivers leadership inference tokens per dollar and is being deployed by leading AI labs and cloud providers including Anthropic, Cirrascale, HUMAIN, Meta, Microsoft, OpenAI, Oracle, Tensorwave, Vultr and others.
* Launched the [AMD Instinct MI400 Series GPU family](https://newsroom.amd.com/news/aai-2026-mi400-instinct-update/ "Opens in a new window"), including MI455X, bringing leadership compute, memory capacity and bandwidth for large-scale AI training and inference, and MI430X, the most advanced accelerator for HPC and sovereign AI workloads.
* Introduced [6th Gen AMD EPYC server CPUs](https://newsroom.amd.com/news/aai-2026-6th-gen-epyc/ "Opens in a new window"), built to deliver leadership performance across the full range of agentic AI, general-purpose and enterprise workloads.
* Released [ROCm.ai](http://rocm.ai/ "Opens in a new window"), an AI-native developer experience designed to help developers build, deploy and optimize faster across AMD platforms.
* Announced a strategic [partnership with Anthropic](https://newsroom.amd.com/news/amd-anthropic-strategic-partnership/ "Opens in a new window") to deploy up to 2 gigawatts of MI450 Series GPUs in AMD Helios racks and a multiyear collaboration to optimize AMD Instinct GPUs and ROCm software development using Claude.
* Expanded [collaboration with Microsoft](https://newsroom.amd.com/news/microsoft-azure-ai-infrastructure/ "Opens in a new window") to deploy AMD Helios racks at scale on Azure to power frontier model inference. Azure will also add two new AMD EPYC CPU-powered VM series and broaden its deployment of Pensando™ DPUs to support Azure networking services.
* Announced a [collaboration with Cerebras](https://newsroom.amd.com/news/aai-2026-cerebras-inference/ "Opens in a new window") to bring together AMD Helios and Cerebras Wafer-Scale Engine to improve efficiency, scalability and economics for ultra-low-latency inference serving.
* Launched the [AMD Instinct MI350P GPU](https://www.amd.com/en/blogs/2026/amd-instinct-mi350p-pcie-gpus-run-enterprise-ai-on-your.html "Opens in a new window"), designed to bring seamless AI acceleration to existing infrastructure with leadership token economics.
* Acquired [MEXT](https://www.amd.com/en/blogs/2026/amd-acquires-mext-for-memory-optimization.html "Opens in a new window"), adding AI-powered predictive memory technology designed to optimize memory use and expand usable capacity for AI workloads.
* AMD extended its PC offerings for enterprises, developers and gamers:
* Released [Ryzen AI Halo](https://www.amd.com/en/blogs/2026/amd-powers-next-generation-agent-computers-with-new-ryzen-ai-hal.html "Opens in a new window") systems, purpose-built for developers to build, test and run agentic AI workflows locally with leadership performance optimized by AMD ROCm™ open software support.
* Expanded the [AMD Ryzen PRO 9000 Series processor lineup](https://www.amd.com/en/blogs/2026/amd-expands-amd-ryzen-pro-9000-series-processor-lineup.html "Opens in a new window"), bringing AMD 3D V-Cache™ technology to enterprise workstations for the first time.
* Launched [AMD Ryzen 7700X3D processors](https://www.amd.com/en/blogs/2026/amd-computex-2026-10-years-of-am4-am5-support-through.html "Opens in a new window") and extended support for Socket AM5 platforms through 2029, giving gamers more performance and longevity.
* Cisco and AMD are [collaborating](https://newsroom.amd.com/news/aai-2026-cisco-client-partnership-update/ "Opens in a new window") to bring together AMD Ryzen AI Halo systems with Cisco networking, observability and security capabilities, so enterprises can deploy, govern and manage hybrid and local agentic AI at scale.
* Expanded global availability of [AMD Radeon RX 9070 GRE graphics cards](https://www.amd.com/en/blogs/2026/amd-computex-2026-10-years-of-am4-am5-support-through.html "Opens in a new window"), extending performance and advanced ray tracing capabilities to more gamers.
* AMD expanded its adaptive and embedded AI portfolio:
* Introduced [AMD Ryzen™ AI Embedded X100 Series processors](https://newsroom.amd.com/news/aai-2026-ryzen-ai-embedded-x100/ "Opens in a new window"), a new family of embedded x86 processors integrating CPU, GPU and AI acceleration to power robotics, industrial automation and intelligent embedded systems.
* Announced AMD Kria™ AI solutions, including [AMD Kria AI system-on-modules](https://www.amd.com/en/products/system-on-modules/kria/ai.html "Opens in a new window") and the[AMD Kria AI Robotics Developer Platform](https://newsroom.amd.com/news/aai-2026-kria-robotics-dev-platform "Opens in a new window") to accelerate the development of next-generation physical AI systems.
* Launched [Versal™ Premium Series Gen 2 Memory on Package adaptive SoCs](https://www.amd.com/en/blogs/2026/amd-packs-more-memory-capacity--performance-in-a-smalle.html "Opens in a new window"), to speed data transfer for test and measurement, professional video editing, communications and aerospace and defense workloads.
**Current Outlook**
AMD’s outlook statements are based on current expectations. The following statements are forward-looking and actual results could differ materially depending on market conditions and the factors set forth under “Cautionary Statement” below.
For the third quarter of 2026, AMD expects revenue to be approximately $13 billion, plus or minus $300 million. The mid-point of the revenue range represents year-over-year growth of approximately 41% and a sequential increase of approximately 13%. Non-GAAP gross margin is expected to be approximately 56%.
**AMD Teleconference**
AMD will hold a conference call at 2:00 p.m. PT (5:00 p.m. ET) today to discuss its second quarter 2026 financial results. AMD will provide a real-time audio broadcast of the teleconference on the[Investor Relations](http://ir.amd.com/ "Opens in a new window") page of its website at [www.amd.com](http://www.amd.com/ "Opens in a new window").
**RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES****(in millions, except per share data and percentages) (Unaudited)**
**Three Months Ended**
**June 27,**
**2026****March 28,**
**2026****June 28,**
**2025**
**GAAP gross profit****$****6,203****$****5,416****$****3,059**
**_GAAP gross margin_****_54_****_%_****_53_****_%_****_40_****_%_**
Stock-based compensation 8 8 6
Amortization of acquisition-related intangibles 260 261 260
Acquisition-related and other costs (1)——1
Loss contingency on legal matters 17——
**Non-GAAP gross profit****$****6,488****$****5,685****$****3,326**
**_Non-GAAP gross margin_****_56_****_%_****55****%****43****%**
**GAAP operating expenses****$****4,213****$****3,940****$****3,193**
**_GAAP operating expenses/revenue %_****_37_****_%_****_38_****_%_****_42_****_%_**
Stock-based compensation 495 479 363
Amortization of acquisition-related intangibles 284 290 308
Acquisition-related and other costs (1)40 26 93
**Non-GAAP operating expenses****$****3,394****$****3,145****$****2,429**
**_Non-GAAP operating expenses/revenue %_****_29_****_%_****31****%****32****%**
**GAAP operating income (loss)****$****1,990****$****1,476****$****(134****)**
**_GAAP operating margin_****_17_****_%_****_14_****_%_****_(2_****_)_****_%_**
Stock-based compensation 503 487 369
Amortization of acquisition-related intangibles 544 551 568
Acquisition-related and other costs (1)40 26 94
Loss contingency on legal matters 17——
**Non-GAAP operating income****$****3,094****$****2,540****$****897**
**_Non-GAAP operating margin_****_27_****_%_****25****%****12****%**
**Three Months Ended**
**June 27,**
**2026****March 28,**
**2026****June 28,**
**2025**
**GAAP net income / earnings per share****$****2,297****$****1.38****$****1,383****$****0.84****$****872****$****0.54**
Stock-based compensation 503 0.30 487 0.30 369 0.23
Amortization of acquisition-related intangibles 544 0.33 551 0.33 568 0.35
Acquisition-related and other costs (1)41 0.02 27 0.02 96 0.05
Loss contingency on legal matters 17 0.01————
(Gains) loss on long-term investments, net(483)(0.29)(66)(0.04)(61)(0.04)
Equity income in investee(6)—(6)—(8)—
Release of reserves for uncertain tax positions (2)————(853)(0.52)
Income tax provision(161)(0.10)(100)(0.07)(98)(0.06)
Loss (income) from discontinued operations, net of tax(3)8 0.01(11)(0.01)(104)(0.07)
**Non-GAAP net income / earnings per share****$****2,760****$****1.66****$****2,265****$****1.37****$****781****$****0.48**
(1)Acquisition-related and other costs primarily include transaction costs, purchase price fair value adjustments for inventory, certain compensation charges, and workforce rebalancing charges.
(2)Release of reserves for uncertain tax positions pertains to the reasonable cause relief related to dual consolidated losses approved by the Internal Revenue Service in Q2'25.
(3)Loss (income) from discontinued operations relates to ZT Systems' manufacturing business which was divested in Q4'25, and includes impact from measurement period adjustments in Q1'26.
**About AMD**
AMD (NASDAQ: AMD) drives innovation in high-performance and AI computing to solve the world’s most important challenges. Today, AMD technology powers billions of experiences across cloud and AI infrastructure, embedded systems, AI PCs and gaming. With a broad portfolio of AI-optimized CPUs, GPUs, networking and software, AMD delivers full-stack AI solutions that provide the performance and scalability needed for a new era of intelligent computing. Learn more at [www.amd.com](http://www.amd.com/ "Opens in a new window").
**Cautionary Statement**
This press release contains forward-looking statements concerning Advanced Micro Devices, Inc. (AMD) such as, AMD’s strong momentum in the second half of 2026; AI driving compute demand across AMD’s markets; AMD being well positioned to capture expanding opportunity; AMD’s ability to deliver substantial revenue and earnings growth in the years ahead; acceleration of AMD’s Data Center sales growth in second half of 2026 driving stronger overall revenue growth and continued earnings expansion; the strategic partnership with Anthropic and the deployment of up to two gigawatts of AMD Instinct GPUs in AMD Helios rack-scale solutions and multiyear collaboration; expected plans, benefits and timing of AMD’s partnerships and strategic collaborations, including with Microsoft, Cerebras and Cisco; the features, functionality, performance, availability, timing and expected benefits of future AMD products; and AMD’s expected third quarter 2026 financial outlook, including revenue and non-GAAP gross margin, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as "would," "may," "expects," "believes," "plans," "intends," "projects" and other terms with similar meaning. Investors are cautioned that the forward-looking statements in this press release are based on current beliefs, assumptions and expectations, speak only as of the date of this press release and involve risks and uncertainties that could cause actual results to differ materially from current expectations. Such statements are subject to certain known and unknown risks and uncertainties, many of which are difficult to predict and are generally beyond AMD’s control, that could cause actual results and other future events to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Material factors that could cause actual results to differ materially from current expectations include, without limitation, the following: impact of government actions and regulations such as export regulations, national-security-based regulations, import tariffs, trade protection measures, and licensing requirements; competitive markets in which AMD’s products are sold; the cyclical nature of the semiconductor industry; market conditions of the industries in which AMD products are sold; AMD's ability to introduce products on a timely basis with expected features and performance levels; loss of a significant customer; economic and market uncertainty; quarterly and seasonal sales patterns; AMD's ability to adequately protect its technology or other intellectual property; unfavorable currency exchange rate fluctuations; ability of third party manufacturers to manufacture AMD's products on a timely basis in sufficient quantities and using competitive technologies; availability of essential equipment, materials, components (such as memory supply), substrates or manufacturing processes; ability to achieve expected manufacturing yields for AMD’s products; AMD's ability to generate revenue from its semi-custom SoC products; potential security vulnerabilities; potential security incidents including IT outages, data loss, data breaches and cyberattacks; uncertainties involving the ordering and shipment of AMD’s products; AMD’s reliance on third-party intellectual property to design and introduce new products; AMD's reliance on third-party companies for design, manufacture and supply of motherboards, software, memory and other computer platform components; AMD's reliance on Microsoft and other software vendors' support to design and develop software to run on AMD’s products; AMD’s reliance on third-party distributors and add-in-board partners; impact of modification or interruption of AMD’s internal business processes and information systems; compatibility of AMD’s products with some or all industry-standard software and hardware; costs related to defective products; failure to maintain an efficient supply chain as customer demand changes; AMD's ability to rely on third party supply-chain logistics functions; AMD’s ability to effectively control sales of its products on the gray market; impact of climate change on AMD’s business; AMD’s ability to realize its deferred tax assets; potential tax liabilities; current and future claims and litigation; impact of environmental laws, conflict minerals related provisions and other laws or regulations; evolving expectations from governments, investors, customers and other stakeholders regarding corporate responsibility matters; issues related to the responsible use of AI; restrictions imposed by agreements governing AMD’s notes, the guarantees of Xilinx’s notes and the revolving credit agreement; AMD’s ability to satisfy financial obligations under guarantees, leases and other commercial commitments; impact of acquisitions, joint ventures and/or investments on AMD’s business and AMD’s ability to integrate acquired businesses; impact of any impairment of the combined company’s assets; political, legal and economic risks and natural disasters; future impairments of technology license purchases; AMD’s ability to attract and retain key employees; and AMD’s stock price volatility. Investors are urged to review in detail the risks and uncertainties in AMD’s Securities and Exchange Commission filings, including but not limited to AMD’s most recent reports on Forms 10-K and 10-Q.
(*)In this earnings press release, in addition to GAAP financial results, AMD has provided non-GAAP financial measures including non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating expenses/revenue percent, non-GAAP operating income, non-GAAP operating margin, non-GAAP net income and non-GAAP diluted earnings per share. AMD uses a normalized tax rate in its computation of the non-GAAP income tax provision to provide better consistency across the reporting periods. For fiscal 2026, AMD used a non-GAAP tax rate of 13%, which excludes the tax impact of pre-tax non-GAAP adjustments. AMD also provides adjusted EBITDA, free cash flow and free cash flow margin as supplemental non-GAAP measures of its performance. These items are defined in the footnotes to the selected corporate data tables provided at the end of this earnings press release. AMD is providing these financial measures because it believes this non-GAAP presentation makes it easier for investors to compare its operating results for current and historical periods and also because AMD believes it assists investors in comparing AMD’s performance across reporting periods on a consistent basis by excluding items that it does not believe are indicative of its core operating performance and for the other reasons described in the footnotes to the selected data tables. The non-GAAP financial measures disclosed in this earnings press release should be viewed in addition to and not as a substitute for or superior to AMD’s reported results prepared in accordance with GAAP and should be read only in conjunction with AMD’s Consolidated Financial Statements prepared in accordance with GAAP. These non-GAAP financial measures referenced are reconciled to their most directly comparable GAAP financial measures in the data tables in this earnings press release. This earnings press release also contains forward-looking non-GAAP gross margin concerning AMD’s financial outlook, which is based on current expectations as of August 4, 2026, and assumptions and beliefs that involve numerous risks and uncertainties. Adjustments to arrive at the GAAP gross margin outlook typically include stock-based compensation, amortization of acquired intangible assets and acquisition-related and other costs. The timing and impact of such adjustments are dependent on future events that are typically uncertain or outside of AMD's control, therefore, a reconciliation to equivalent GAAP measures is not practicable at this time. AMD undertakes no intent or obligation to publicly update or revise its outlook statements as a result of new information, future events or otherwise, except as may be required by law.
-30-
**_©2026 Advanced Micro Devices, Inc. All rights reserved. AMD, the AMD Arrow logo, 3D V-Cache, Alveo, AMD Instinct, EPYC, FidelityFX, Helios, Kria, Radeon, Ryzen, Threadripper, Ultrascale+, Versal, Zynq, and combinations thereof, are trademarks of Advanced Micro Devices, Inc._**
**ADVANCED MICRO DEVICES, INC.**
**CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS**
**(Millions except per share amounts and percentages) (Unaudited)**
**Three Months Ended****Six Months Ended**
**June 27,**
**2026****March 28,**
**2026****June 28,**
**2025****June 27,**
**2026****June 28,**
**2025**
Net revenue$11,536$10,253$7,685$21,789$15,123
Cost of sales 5,073 4,576 4,366 9,649 7,817
Amortization of acquisition-related intangibles 260 261 260 521 511
Total cost of sales 5,333 4,837 4,626 10,170 8,328
Gross profit 6,203 5,416 3,059 11,619 6,795
Gross margin 54%53%40%53%45%
Research and development 2,528 2,397 1,894 4,925 3,622
Marketing, general and administrative 1,401 1,253 991 2,654 1,877
Amortization of acquisition-related intangibles 284 290 308 574 624
Total operating expenses 4,213 3,940 3,193 8,153 6,123
Operating income (loss)1,990 1,476(134)3,466 672
Interest expense(37)(37)(38)(74)(58)
Other income (expense), net 598 165 98 763 137
Income (loss) from continuing operations before income taxes and equity income 2,551 1,604(74)4,155 751
Income tax provision (benefit)252 238(834)490(711)
Equity income in investee 6 6 8 12 15
Income from continuing operations, net of tax 2,305 1,372 768 3,677 1,477
(Loss) income from discontinued operations, net of tax(8)11 104 3 104
Net income$2,297$1,383$872$3,680$1,581
Earnings per share:
Basic earnings from continuing operations$1.41$0.84$0.47$2.25$0.91
Basic earnings from discontinued operations$(0.01)$0.01$0.07$0.01$0.07
Basic earnings per share$1.40$0.85$0.54$2.26$0.98
Diluted earnings from continuing operations$1.39$0.83$0.47$2.22$0.91
Diluted earnings from discontinued operations$(0.01)$0.01$0.07$—$0.06
Diluted earnings per share$1.38$0.84$0.54$2.22$0.97
Shares used in per share calculation
Basic 1,632 1,631 1,623 1,631 1,621
Diluted 1,659 1,650 1,630 1,655 1,628
**ADVANCED MICRO DEVICES, INC.**
**CONDENSED CONSOLIDATED BALANCE SHEETS**
**(Millions)**
**June 27,**
**2026****December 27,**
**2025**
(Unaudited)
**ASSETS**
**Current assets:**
Cash and cash equivalents$5,086$5,539
Short-term investments 8,025 5,013
Accounts receivable, net 7,281 6,315
Inventories 8,468 7,920
Prepaid expenses and other current assets 2,662 2,160
**Total current assets**31,522 26,947
Property and equipment, net 3,439 2,312
Goodwill 25,470 25,126
Acquisition-related intangibles, net 15,635 16,705
Deferred tax assets 494 384
Other non-current assets 7,904 5,452
**Total Assets**$84,464$76,926
**LIABILITIES AND STOCKHOLDERS' EQUITY**
**Current liabilities:**
Accounts payable$5,359$2,929
Accrued liabilities 5,546 5,250
Current portion of long-term debt, net 875 874
Other current liabilities 301 402
**Total current liabilities**12,081 9,455
Long-term debt 2,351 2,348
Long-term operating lease liabilities 1,050 625
Deferred tax liabilities 300 313
Other long-term liabilities 1,458 1,186
**Stockholders' equity:**
Capital stock:
Common stock, par value $0.01 16 17
Additional paid-in capital 61,373 63,365
Treasury stock, at cost—(7,079)
Retained earnings 5,909 6,699
Accumulated other comprehensive loss(74)(3)
**Total stockholders' equity**67,224 62,999
**Total Liabilities and Stockholders' Equity**$84,464$76,926
**ADVANCED MICRO DEVICES, INC.**
**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS**
**(Millions) (Unaudited)**
**Three Months Ended****Six Months Ended**
**June 27,**
**2026****June 28,**
**2025****June 27,**
**2026****June 28,**
**2025**
Cash flows from operating activities:
Net income$2,297$872$3,680$1,581
(Income) loss from discontinued operations, net of tax 8(104)(3)(104)
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization 221 189 427 364
Amortization of acquisition-related intangibles 544 568 1,095 1,135
Stock-based compensation 503 369 990 733
Gains from long-term investments, net(483)(38)(549)(36)
Deferred income taxes(27)(886)(106)(1,053)
Other 33 28 61 65
Changes in operating assets and liabilities:
Accounts receivable, net(1,246)330(966)1,078
Inventories(423)(261)(548)(943)
Prepaid expenses and other assets(683)(140)(991)(377)
Accounts payable 2,274 836 2,170 547
Accrued and other liabilities(652)(301)61(589)
Net cash provided by operating activities of continuing operations 2,366 1,462 5,321 2,401
Net cash provided by operating activities of discontinued operations—549—549
Net cash provided by operating activities 2,366 2,011 5,321 2,950
Cash flows from investing activities:
Purchases of property and equipment(808)(282)(1,197)(494)
Purchases of short-term investments(2,010)(492)(4,555)(796)
Proceeds from maturity of short-term investments 615 318 1,267 683
Proceeds from sale of short-term investments 160 15 286 48
Purchases of long-term investments(435)(119)(844)(358)
Acquisitions, net of cash acquired(129)(1,716)(129)(1,716)
Net cash used in investing activities of continuing operations(2,607)(2,276)(5,172)(2,633)
Purchases of property and equipment—(22)—(22)
Payment for working capital adjustment on divestiture(243)—(243)—
Net cash used in investing activities of discontinued operations(243)(22)(243)(22)
Net cash used in investing activities(2,850)(2,298)(5,415)(2,655)
Cash flows from financing activities:
Proceeds from debt and commercial paper issuance, net of issuance costs———2,441
Repayment of debt and commercial paper—(950)—(950)
Proceeds from sales of common stock through employee equity plans 200 155 205 159
Repurchases of common stock—(478)(221)(1,227)
Stock repurchases for tax withholding on employee equity plans(207)(46)(341)(76)
Other(8)—(8)—
Net cash provided by (used in) financing activities(15)(1,319)(365)347
Net increase (decrease) in cash, cash equivalents and restricted cash(499)(1,606)(459)642
Cash, cash equivalents and restricted cash at beginning of period 5,596 6,059 5,556 3,811
Cash, cash equivalents and restricted cash at end of period$5,097$4,453$5,097$4,453
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents$5,086$4,442$5,086$4,442
Restricted cash included in Prepaid expenses and other current assets 11 11 11 11
Cash, cash equivalents and restricted cash at end of period$5,097$4,453$5,097$4,453
**ADVANCED MICRO DEVICES, INC.**
**SELECTED CORPORATE DATA**
**(Millions) (Unaudited)**
**Three Months Ended****Six Months Ended**
**June 27,**
**2026****March 28,**
**2026****June 28,**
**2025****June 27,**
**2026****June 28,**
**2025**
**Segment and Disaggregated Revenue Information****(1)**
**Net Revenue:**
Data Center Segment$6,718$5,775$3,240$12,493$6,914
Client and Gaming Segment
Client 3,062 2,885 2,499 5,947 4,793
Gaming 779 720 1,122 1,499 1,769
Total Client and Gaming 3,841 3,605 3,621 7,446 6,562
Embedded Segment 977 873 824 1,850 1,647
**Total net revenue**$11,536$10,253$7,685$21,789$15,123
**Operating Income (Loss):**
Data Center Segment$2,103$1,599$(155)$3,702$777
Client and Gaming Segment 582 575 767 1,157 1,263
Embedded Segment 386 338 275 724 603
All other(1,081)(1,036)(1,021)(2,117)(1,971)
**Total operating income (loss)**$1,990$1,476$(134)$3,466$672
**Other Data**
Capital expenditures$808$389$282$1,197$494
Adjusted EBITDA (2)$3,315$2,746$1,086$6,061$3,040
Cash, cash equivalents and short-term investments$13,111$12,347$5,867$13,111$5,867
Free cash flow (3)$1,558$2,566$1,180$4,124$1,907
Total assets$84,464$79,642$74,820$84,464$74,820
Total debt$3,226$3,224$3,218$3,226$3,218
(1)The Company operates as three operating segments, Data Center, Client and Gaming, and Embedded segments.
The Data Center segment primarily includes Artificial Intelligence (AI) accelerators, microprocessors (CPUs) for servers, graphics processing units (GPUs), accelerated processing units (APUs), data processing units (DPUs), AI Network Interface Cards (AI NICs), Field Programmable Gate Arrays (FPGAs) and adaptive System-on-Chip (SoC) products for data centers.
The Client and Gaming segment primarily includes CPUs, APUs, chipsets for desktops and notebooks, discrete GPUs, and semi-custom SoC products and development services.
The Embedded segment primarily includes embedded CPUs, APUs, FPGAs, System on Modules (SOMs), and adaptive SoC products.
From time to time, the Company may also sell or license portions of its IP portfolio.
All Other category primarily includes certain expenses and credits that are not allocated to any of the operating segments, such as amortization of acquisition-related intangibles, employee stock-based compensation expense, and acquisition-related and other costs.
(2)**Reconciliation of GAAP Net Income to Adjusted EBITDA**
**Three Months Ended****Six Months Ended**
**(Millions) (Unaudited)****June 27,**
**2026****March 28,**
**2026****June 28,**
**2025****June 27,**
**2026****June 28,**
**2025**
GAAP net income$2,297$1,383$872$3,680$1,581
Interest expense 37 37 38 74 58
Other (income) expense, net(598)(165)(98)(763)(137)
Income tax provision (benefit)252 238(834)490(711)
Equity income in investee(6)(6)(8)(12)(15)
Stock-based compensation 503 487 369 990 733
Depreciation and amortization 221 206 189 427 364
Amortization of acquisition-related intangibles 544 551 568 1,095 1,135
Acquisition-related and other costs 40 26 94 66 136
Loss contingency on legal matters 17——17—
Loss (income) from discontinued operations, net of tax 8(11)(104)(3)(104)
Adjusted EBITDA$3,315$2,746$1,086$6,061$3,040
The Company presents “Adjusted EBITDA” as a supplemental measure of its performance. Adjusted EBITDA for the Company is determined by adjusting GAAP net income for interest expense, other (income) expense, net, income tax provision (benefit), equity income in investee, stock-based compensation, depreciation and amortization expense, amortization of acquisition-related intangibles, acquisition-related and other costs, loss contingency on legal matters, and loss (income) from discontinued operations, net of tax. The Company calculates and presents Adjusted EBITDA because management believes it is of importance to investors and lenders in relation to its overall capital structure and its ability to borrow additional funds. In addition, the Company presents Adjusted EBITDA because it believes this measure assists investors in comparing its performance across reporting periods on a consistent basis by excluding items that the Company does not believe are indicative of its core operating performance. The Company’s calculation of Adjusted EBITDA may or may not be consistent with the calculation of this measure by other companies in the same industry. Investors should not view Adjusted EBITDA as an alternative to the GAAP operating measure of net income or GAAP liquidity measures of cash flows from operating, investing and financing activities. In addition, Adjusted EBITDA does not take into account changes in certain assets and liabilities that can affect cash flows.
(3)**Reconciliation of GAAP Net Cash Provided by Operating Activities of Continuing Operations to Free Cash Flow**
**Three Months Ended****Six Months Ended**
**(Millions except percentages) (Unaudited)****June 27,**
**2026****March 28,**
**2026****June 28,**
**2025****June 27,**
**2026****June 28,**
**2025**
GAAP net cash provided by operating activities of continuing operations$2,366$2,955$1,462$5,321$2,401
_Operating cash flow margin % from continuing operations_ _21_ _%_ _29_ _%_ _19_ _%_ _24_ _%_ _16_ _%_
Purchases of property and equipment(808)(389)(282)(1,197)(494)
Free cash flow$1,558$2,566$1,180$4,124$1,907
_Free cash flow margin %_ _14_ _%_ _25_ _%_ _15_ _%_ _19_ _%_ _13_ _%_
The Company also presents free cash flow as a supplemental Non-GAAP measure of its performance. Free cash flow is determined by adjusting GAAP net cash provided by operating activities of continuing operations for capital expenditures, and free cash flow margin % is free cash flow expressed as a percentage of the Company's net revenue. The Company calculates and communicates free cash flow in the financial earnings press release because management believes it is of importance to investors to understand the nature of these cash flows. The Company’s calculation of free cash flow may or may not be consistent with the calculation of this measure by other companies in the same industry. Investors should not view free cash flow as an alternative to GAAP liquidity measures of cash flows from operating activities.
**Contact**
Carolyn Guss
AMD Communications
[corporate.pressinquiry@amd.com](mailto:corporate.pressinquiry@amd.com "Opens in a new window")
Liz Stine
AMD Investor Relations
[investor.relations@amd.com](mailto:investor.relations@amd.com "Opens in a new window")
[](https://www.globenewswire.com/NewsRoom/AttachmentNg/9782a337-07ac-424b-9c5a-f9cde47d8d55)
Source: Advanced Micro Devices, Inc.
Released August 4, 2026