AMD Beats Third-Quarter Earnings Estimates Driven by Data Center and AI Growth
Advanced Micro Devices (AMD) reported third-quarter financial results that exceeded Wall Street expectations, posting adjusted earnings of $2.09 per share against a consensus estimate of $1.95. Revenue reached $13.38 billion, surpassing the projected $13.09 billion. The company's performance was bolstered by significant strength in its data center segment, with CEO Lisa Su projecting that server revenue could double by 2027 and AI-related growth is expected to accelerate faster than previously forecasted. Despite recent volatility and a 24% decline in share price over the past month due to concerns regarding AI spending sustainability, analysts have responded positively to the results. Major financial institutions including Morgan Stanley, Goldman Sachs, and Barclays highlighted AMD's ability to leverage server market conditions to offset weakness in the PC sector. The company provided an optimistic long-term outlook, forecasting total revenue growth of over 80% by 2027.
Topics: analyst upgrade data center AI earnings beat revenue growth semiconductors
Part of the story AMD Reports Record Q3 2026 Revenue Driven by Data Center Growth (12 articles)