AMD Q1 Fiscal 2026 10-Q: Revenue Rises 38% Year-Over-Year to $10.3 Billion on Data Center Demand
Advanced Micro Devices filed its first-quarter fiscal 2026 Form 10-Q on May 6, 2026, disclosing net revenue of $10.3 billion, net income of $1.4 billion, and continued growth in its Data Center segment driven by AI accelerator and server CPU demand.
Sourced from the primary SEC filing. 10-Q filed May 6, 2026 · SEC EDGAR ↗
Summary
Advanced Micro Devices reported first-quarter fiscal 2026 net revenue of $10.3 billion, a 38% increase compared to the prior-year period, with its Data Center segment accounting for $5.8 billion of that total. Gross margin expanded to 53% from 50% a year earlier, which management attributed primarily to a more favorable product mix weighted toward Data Center. The company also disclosed $25.7 billion in unconditional purchase commitments and issued a warrant to Meta Platforms covering up to 160 million shares tied to AMD Instinct GPU purchase milestones.
Key metrics
Quarter ended March 28, 2026; prior year period was $7,438 million for the quarter ended March 29, 2025.
Quarter ended March 29, 2025, reported for comparison.
Includes AI accelerators, server CPUs, GPUs, DPUs, AI NICs, FPGAs, and adaptive SoC products for data centers.
Reported for year-over-year comparison.
Combined Client and Gaming segment; prior year was $2,941 million.
Driven by a reported 25% increase in unit shipments and 1% increase in average selling price of Ryzen mobile processors.
Increase attributed to higher Radeon GPU demand, partially offset by lower semi-custom revenue.
Prior year was $823 million; increase attributed to strengthened demand across several end markets.
Prior year gross profit was $3,736 million.
Up from 50% in the prior year period; increase attributed to favorable product mix including higher Data Center segment revenue.
Reported for year-over-year comparison.
Prior year was $1,728 million; increase attributed to higher employee-related costs from headcount growth in support of AI strategy.
Prior year was $886 million; increase primarily due to higher go-to-market activities.
Recorded in both cost of sales ($261m) and operating expenses ($290m); prior year total was $567 million.
Prior year was $2,930 million.
Prior year operating income was $806 million.
Prior year was $932 million.
Prior year was $496 million.
Prior year was $328 million.
Primarily comprised of $551m amortization of acquisition-related intangibles and $487m stock-based compensation expense.
Prior year was $20 million; increase due to $1.5 billion senior notes issued in March 2025.
Prior year was $39 million; increase primarily due to unrealized gains from long-term investments and interest income from short-term investments.
Prior year was $825 million.
Prior year was $123 million.
Same effective rate as the prior year period of 14.8%; below the 21% U.S. federal statutory rate primarily due to FDDEI and R&D tax credits.
Prior year was $709 million.
Related to measurement period and post-close adjustments from the ZT Systems acquisition and ZT Manufacturing business sale; prior year was zero.
Prior year net income was $709 million.
Prior year was $0.44.
Prior year was $0.44.
Includes $0.01 from discontinued operations; prior year was $0.44.
Includes $0.01 from discontinued operations; prior year was $0.44.
Prior year was 1,620 million shares.
Prior year was 1,626 million shares.
Prior year was $364 million; includes $8m in cost of sales, $387m in R&D, and $92m in MG&A.
As of March 28, 2026; prior period end (December 27, 2025) was $5,539 million.
As of March 28, 2026; prior period end was $5,013 million.
As of March 28, 2026; prior period end (December 27, 2025) was $10.6 billion.
As of March 28, 2026; prior period end was $76,926 million.
As of March 28, 2026; prior period end was $7,920 million. Comprised of raw materials $752m, work in process $4,748m, finished goods $2,545m.
As of March 28, 2026; prior period end was $6,315 million.
As of March 28, 2026; prior period end was $25,126 million. Increase reflects measurement period adjustments related to ZT Systems acquisition.
As of March 28, 2026; prior period end was $16,705 million.
As of March 28, 2026; unchanged from prior period end. Comprised of five senior note tranches.
As of March 28, 2026; relates to 4.212% Senior Notes due 2026.
As of March 28, 2026; prior period end was $2,348 million.
As of March 28, 2026; prior period end was $62,999 million.
Prior year period was $939 million.
Prior year period was $357 million; current period primarily driven by $2.5bn purchases of short-term investments and $389m capex.
Prior year period provided $1,666 million; current period primarily reflects $221m stock repurchases and $134m tax withholding on equity awards.
Prior year period was $212 million.
Represents repurchase of 1.1 million shares under the Repurchase Program; $9.2 billion remained available under the $14 billion total repurchase authority as of March 28, 2026.
As of March 28, 2026 and also as of beginning of period December 27, 2025.
Prior year period was 66%.
As of March 28, 2026; $167 million expected to be recognized in the next 12 months. Relates to development/engineering services, IP licensing, and product revenue under contracts with original duration exceeding one year.
Associated with custom products and development services; prior year period was 9%.
As of March 28, 2026; $18,342 million due in the remainder of fiscal 2026. Primarily wafer, substrate, component, and cloud service provider obligations.
Purchases from the ATMP joint venture (assembly, test, mark and packaging services) during the quarter; prior year period was $497 million.
As of March 28, 2026; related to commercial partner data center lease obligations with terms up to 15 years.
As of March 28, 2026; prior period end was $806 million. Recorded in Other long-term liabilities.
Per cash flow statement; prior year period was $175 million.
Year-over-year increase in unit shipments for AMD Ryzen mobile processors as disclosed in the MD&A.
Year-over-year increase in average selling price, primarily for AMD Ryzen mobile processors, as disclosed in the MD&A.
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