AMD’s Financial results for the first quarter of 2026: First quarter revenue was $10.3 billion, gross margin was 53%, operating income was $1.5 billion, net income was $1.4 billion, and diluted earnings per share were $0.84. On a non-GAAP(*) basis, gross margin was 55%, operating income was $2.5 billion, net income was $2.3 billion, and diluted earnings per share were $1.37.
Data Center segment revenue wafs $5.8 billion, up 57% year-over-year, driven by strong demand for AMD EPYC processors and the continued ramp of AMD Instinct GPU shipments.
Client and Gaming segment revenue was $3.6 billion, up 23% year-over-year. Client business revenue was $2.9 billion, up 26% year-over-year, primarily driven by strong demand for AMD Ryzen processors and continued market share gains. Gaming business revenue was $720 million, up 11% year-over-year, driven by solid demand for AMD Radeon GPUs partially offset by lower semi-custom revenue.
“We delivered an outstanding first quarter, driven by accelerating demand for AI infrastructure, with Data Center now the primary driver of our revenue and earnings growth,” said Dr. Lisa Su, AMD chair and CEO. “We are seeing strong momentum as inferencing and agentic AI drive increasing demand for high-performance CPUs and accelerators. Looking ahead, we expect server growth to accelerate meaningfully as we scale supply to meet demand. Customer engagement around MI450 Series and Helios is strengthening, with leading customer forecasts exceeding our initial expectations and a growing pipeline of large-scale deployments providing us with increasing visibility into our growth trajectory.”
“First quarter results reflect strong performance across all key financial metrics, with accelerating revenue growth, earnings expansion and record quarterly free cash flow,” said Jean Hu, AMD executive vice president, CFO and treasurer. “These results highlight continued momentum and execution across the business, demonstrating the leverage in our operating model as we invest for accelerated growth while expanding profitability.”
AMD expanded its offerings for premium enterprise and enthusiast PCs, including the AMD Ryzen AI PRO 400 Series processors, expanding its lineup of next-generation enterprise desktop PCs that deliver Copilot+ experiences.
The Ryzen 9950X3D2 Dual Edition processor delivers enhanced performance for creative and developer workloads with dual stacks of AMD 3D V-Cache technology. AMD announced new adaptive and embedded AI processors, including the Ryzen AI Embedded P100 Series processors, delivering scalable, power-efficient AI compute for industrial and edge applications.
Current outlook
AMD’s outlook statements are based on current expectations. The following statements are forward-looking; actual results could differ materially depending on market conditions and the factors set forth under “Cautionary Statement” below.
For the second quarter of 2026, AMD expects revenue to be approximately $11.2 billion, plus or minus $300 million. The mid-point of the revenue range represents year-over-year growth of approximately 46% and a sequential increase of approximately 9%. Non-GAAP gross margin is expected to be approximately 56%.
What do we think?
AMD’s Q1 2026 results show strong execution, with revenue, margins, and earnings all advancing meaningfully. The Data Center segment now clearly drives growth, fueled by EPYC CPUs and accelerating Instinct GPU shipments tied to AI demand. Client and gaming also contributed, reflecting broader strength. The outlook suggests continued momentum as AI infrastructure scales. Overall, AMD is benefiting from structural shifts toward AI compute, though sustaining supply and competing with entrenched rivals will remain key challenges.
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