EARNINGS & CATALYSTS · October 27, 2026
AMD November 3, 2026 earnings preview: AI deliveries, margins and the outlook
AMD reports after close on November 3. Watch whether AI hardware demand supports deliveries, margins and the next-quarter outlook, with three reviewed charts and recent TSMC results for context.
| Company | Report date | Window | EPS estimate | Revenue estimate |
|---|---|---|---|---|
| Advanced Micro Devices, Inc. (AMD) | November 3, 2026Issuer confirmed | After close | 1.94 | 13.08B |
1) When is the report, and what is expected?
AMD has confirmed that fiscal third-quarter 2026 results will be released after close on November 3, 2026, with its earnings call after close that day. As of October 27, MarketBeat’s revenue consensus was about $13.08 billion. AMD’s own August outlook called for $12.7 billion–$13.3 billion of revenue and an adjusted gross margin of about 56%. These are expectations for the upcoming report. The next-quarter forecast will show whether management still sees growth accelerating.
2) What did the last two reports show?
In the first quarter, adjusted diluted EPS, or profit per share, was $1.37 versus a $1.29 consensus. Revenue was $10.253 billion versus $9.90 billion expected. Those differences were 6.2% and 3.6%, respectively. In the second quarter, adjusted EPS of $1.66 exceeded the $1.62 consensus by 2.5%. Revenue of $11.536 billion exceeded $11.31 billion expected by 2.0%. Adjusted earnings exclude specified items and differ from profit calculated under standard U.S. accounting rules. AMD rose 18.6% from the May 5 close to the May 6 close after its first-quarter release. It fell 7.0% from the August 4 close to the August 5 close after its second-quarter release. These observed reactions show why beating an estimate is only part of the investment decision.
3) What does the chart add?
AMD closed at $531.28 on October 26, 2026, up 2.80% that day. It remained below its 20-day average of $583.39 and 50-day average of $542.62. The rebound followed the October 22 low. Recent trading suggests approximate support at $502–$514 and resistance at $548–$557. Holding above resistance with stronger volume would improve the setup; a close below $502 would weaken the recovery. Earnings can move the stock past those levels, so they are conditional reference points.
4) How the business makes money
AMD designs processors for servers and PCs, graphics chips for AI and gaming, and embedded chips for specialized equipment. Manufacturing partners produce its chips. Data Center supplied 48% of fiscal 2025 revenue, while Client and Gaming supplied 42% and Embedded supplied 10%. The mix matters because those markets have different demand and profit cycles.
5) What to watch
AMD’s October 12 Helion announcement expands its rack designs for AI systems that perform tasks across multiple steps. The configurations remain under development, with availability planned for November 2026. Watch customer adoption, production readiness and how management connects the product rollout to its revenue outlook. Stronger sales matter most when margins and cash generation also improve.
6) Recently reported peers
TSMC, an important chip-manufacturing supplier, reported third-quarter results on October 15. Revenue was $46.72 billion, and diluted profit per U.S.-traded depositary receipt was $4.60 under Taiwan’s accounting rules. It issued fourth-quarter revenue guidance of $52.3 billion–$54.3 billion. That supports a strong advanced-chip demand backdrop, although TSMC serves many customers. The peer image’s price change covers October 15 at open to at close and excludes the overnight move.
7) Risks into the report
Competition, export restrictions and limits on manufacturing or packaging capacity can affect deliveries. New AI systems also need customer spending on power and infrastructure. At the October 26 close, AMD traded at about 136.6 times its last four quarters of reported diluted profit per share; that leaves the investment sensitive to changing growth expectations. Gaming demand and acquisition-related costs can also change the balance of profits.