Advanced Micro Devices (AMD) — Filings & Earnings
Fiscal Year End: Last Saturday of December Last Reviewed: 2026-05-12 (Q1 2026 call review) Next Earnings: Q2 2026, est. early August 2026
Q1 2026 (reported 2026-05-05) — Headline beat & model raised
| Metric | Q1 2026A | Consensus | YoY |
|---|---|---|---|
| Revenue | $10.3B | beat | +38% |
| Data Center | $5.8B | beat | +57% |
| DC operating margin | 28% | — | up from 25% |
| EPYC cloud instances | 1,600+ | — | +50% YoY |
Q2 2026 guide: Revenue $11.2B ±$300M (+46% YoY, +9% QoQ); non-GAAP GM 56%; OpEx $3.3B; server CPU +70% YoY.
Long-term model raised on this call — see amd-q1-2026-synthesis for full breakdown:
- Server CPU TAM $60B → $120B by 2030 at >35% CAGR
- EPS target: ">$20 over the strategic time frame" (new explicit anchor)
- GM range: 55–58% (Jean Hu)
- Instinct growth: ">80% to exceed in coming years"
- AI revenue: tens of billions in 2027 ("strong and increasing confidence")
- Server CPU share aspiration: >50% of $120B TAM
Related
- AMD — canonical wiki page
- amd-q1-2026-synthesis — Q1 synthesis + updated PT
- 2026-04-26-2026-grants-digest-volume-5 — Tarot RSU coverage
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