AMD Posts Record Quarter and Outlook
AMD announced a record quarter with revenue exceeding $13 billion and net income of $2.4 billion. CFO Jean Hu expects Q4 revenue to reach about $17 billion, predicting revenue figures of around $17 billion for Q4. Let’s compare that to Intel, which expects flat or slightly declining revenue of $15‑$16 billion.
While the higher revenue is impressive, it’s unclear whether AMD’s net income will climb past $3 billion, the level where Intel currently sits. AMD has been profitable since 2018 and outperformed Intel in 2024 when Intel posted an $18.7 billion loss and AMD earned $1.6 billion. The company again topped Intel on profit last year.
Even though Intel’s stock fell sharply in its recent quarter, the company has returned to profitability, punishing last quarter for Intel in terms of its stock price collapsing, the company did at least return to profitability.
|
Quarter |
Intel Revenue ($M) |
Intel Net Income ($M) |
AMD Revenue ($M) |
AMD Net Income ($M) |
|---|---|---|---|---|
|
Q1 2021 |
19,673 |
3,360 |
3,445 |
555 |
|
Q2 2021 |
19,631 |
5,060 |
3,850 |
710 |
|
Q3 2021 |
19,192 |
6,823 |
4,313 |
923 |
|
Q4 2021 |
20,528 |
4,623 |
4,826 |
974 |
|
Q1 2022 |
18,353 |
8,113 |
5,887 |
786 |
|
Q2 2022 |
15,321 |
−454 |
6,550 |
447 |
|
Q3 2022 |
15,338 |
1,019 |
5,565 |
66 |
|
Q4 2022 |
14,042 |
−664 |
5,599 |
21 |
|
Q1 2023 |
11,715 |
−2,758 |
5,353 |
−139 |
|
Q2 2023 |
12,949 |
1,481 |
5,359 |
27 |
|
Q3 2023 |
14,158 |
297 |
5,800 |
299 |
|
Q4 2023 |
15,406 |
2,669 |
6,168 |
667 |
|
Q1 2024 |
12,724 |
−381 |
5,473 |
123 |
|
Q2 2024 |
12,833 |
−1,610 |
5,835 |
265 |
|
Q3 2024 |
13,284 |
−16,639 |
6,819 |
771 |
|
Q4 2024 |
14,260 |
−126 |
7,658 |
482 |
|
Q1 2025 |
12,667 |
−821 |
7,438 |
709 |
|
Q2 2025 |
12,859 |
−2,918 |
7,685 |
872 |
|
Q3 2025 |
13,653 |
4,063 |
9,246 |
1,243 |
|
Q4 2025 |
13,674 |
−591 |
10,270 |
1,511 |
|
Q1 2026 |
13,577 |
−3,728 |
10,253 |
1,383 |
|
Q2 2026 |
16,128 |
−11,033 |
11,536 |
2,297 |
|
Q3 2026 |
16,513 |
3,320 |
13,377 |
2,428 |
Overall, AMD’s revenue has roughly doubled in two years while Intel’s has remained flat, highlighting a dramatic shift in the semiconductor market.
For the fabless company to achieve this level and project continued growth by year‑end is staggering, especially for those who watched AMD struggle in the mid‑2010s. Dr. Lisa Su’s leadership is widely regarded as the key to AMD’s remarkable turnaround.
