AMD reported adjusted earnings of approximately $1.61 per share on revenue of about $11.31 billion, meeting management’s guidance of roughly $11.2 billion and marking nearly 46% growth year-over-year. Options desks had priced in a potential swing of around 12% either way, reflecting the high stakes for AMD stock. The data center segment, which accounts for over half of revenue, has been driven by deals with OpenAI, Microsoft, Meta, and Anthropic. Analysts remain bullish, with 42% rating the stock a Strong Buy and another 42% a Buy, while 17% hold and none recommend selling.
AMD’s earnings report has landed, and Wall Street is measuring the numbers against the bar analysts had set: adjusted earnings near $1.61 a share on revenue around $11.31 billion. That level would confirm management’s own guidance of roughly $11.2 billion and mark close to 46% growth from a year earlier. Options desks had been pricing in a swing of around 12% either way once this report crossed the wire, showing how much weight this single print carried for AMD stock sentiment.
Heading into the print, the stock had been trading at more than 59 times forward earnings, leaving little room for a soft quarter. Shares had been drifting lower even as the consensus price target left only a thin cushion above pre-earnings levels, so this report needed to show real acceleration.
Before this call, CEO Lisa Su had laid groundwork on what was fueling growth. As stated, “Agents are really driving tremendous demand in the overall AI adoption cycle.” On an earlier earnings call, Su also said, “CPUs are a very critical part of data center infrastructure.”
The data center segment made up over half of AMD’s revenue heading into this report, with deals at OpenAI, Microsoft, Meta, and Anthropic driving much of that growth. Analysts have framed the MI350 and MI450 chip lines as AMD’s real shot at chipping away at Nvidia’s grip on AI accelerators. Out of 36 analysts covering the stock, 42% rated it a Strong Buy and another 42% a Buy, while 17% sat on Hold and none recommended selling.
Traders were already weighing the numbers against the bar analysts had circled for weeks. Any updated stock forecast coming out of this report will need to account for that gap either way.
