AMD Earnings After the Close Today: $13.1 Billion Is the Bar

Advanced Micro Devices reports its third quarter results after the US market close on Tuesday, November 3, and the bar is set high. The chipmaker will post its numbers once regular trading ends and then hold its earnings call at 5 p.m. Eastern Time, AMD watchers at Schwab Network and TipRanks said.

Analysts expect revenue of about $13.1 billion for the quarter. The Zacks consensus carried by Schwab Network puts adjusted earnings at $1.94 a share, while TipRanks put the Wall Street figure at $1.95 a share, up more than 60 percent from a year earlier. AMD's own guidance called for revenue of $13 billion, plus or minus $300 million, with a non-GAAP gross margin of about 56 percent.

A stock that has already swung hard

The report lands after a rough week for chip shares. AMD closed Monday at $466.84, down 7.52 percent on the day, and rose about 2.4 percent in premarket trading on Tuesday to near $478. Schwab Network noted the stock has pulled back 29 percent from its record high of $658.52 on October 6, yet is still up 118 percent this year through Monday's close. Options traders are pricing a move of roughly 9 to 11 percent in the shares after the report, according to TipRanks and Schwab Network estimates.

Rival Intel set the nervous tone last week. Intel beat its own third quarter estimates but gave fourth quarter revenue guidance that fell short of what analysts expected, and its shares dropped hard, pulling other chip names down with them.

Data center carries the story

Data center is the segment that decides this report. In the second quarter, AMD's data center revenue reached $6.7 billion, up 107 percent from a year earlier, driven by EPYC server processors and Instinct AI accelerators, Schwab Network reported. For the third quarter, management guided to double-digit sequential data center growth, with both server CPUs and GPUs contributing.

Investors also want a shipping schedule for Helios, AMD's rack-scale AI system built around Instinct MI450 series accelerators and EPYC processors. AMD confirmed on October 27 that the first Helios racks had been installed and were being tested at Meta. Any detail on rollout pace and early profitability will move the stock, analysts cited by TipRanks and TradingKey said.

The weak spot and the number that matters next

Gaming is the expected weak spot. Wall Street expects third quarter gaming revenue to fall about 49 percent from a year earlier to near $655 million, as higher memory and storage prices push up PC and console costs and hold back demand, TradingKey reported.

The print itself may matter less than what AMD says about the fourth quarter. Guidance for the holiday quarter, and any sign that PC weakness lasts into early 2027, will decide whether Tuesday's premarket bounce holds. This report will be updated in place once AMD publishes its results after the close.