Advanced Micro Devices (AMD) came out with quarterly earnings of $1.53 per share, beating the Zacks Consensus Estimate of $1.32 per share. This compares to earnings of $1.09 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of +16.18%. A quarter ago, it was expected that this chipmaker would post earnings of $1.17 per share when it actually produced earnings of $1.2, delivering a surprise of +2.56%.Over the last four quarters, the ...

1、美国总统特朗普签署拨款法案，结束美国政府部分停摆，国土安全部仅获两周资金，各方后续将继 续就该部门运作改进进行谈判。 2、美联储理事米兰辞去白宫经济顾问委员会主席一职，在继任者获得 确认前，他将继续担任美联储理事。 3、SpaceX正式宣布全资收购 人工智能初创公司xAI，旨在构建跨 越地表与太空的垂直整合 创新引擎，马斯克预计未来2至3年太空或将成为生成AI 算力成本最低场所。 4、德国政府宣布拟投入30亿欧元重启电动汽车购车补贴计划，政策持续至2029年且未设置地域限制， 中国品牌电动汽车可纳入补贴范围。 5、俄罗斯总统普京表示俄罗斯2025年国内生产总值增长1%，增 速放缓符合预期，2025年通胀率已下降到5.6%。 6、澳大利亚央行宣布将现金利率上调25个基点至 3.85%，为2023年以来首次加息。 7、美军称在阿拉伯海击落一架对林肯号航母实施蓄意逼近的伊朗无 人机，同时指控伊朗快艇在霍尔木兹海峡高速逼近并威胁美籍油轮。 8、伊朗方面表示正与美国磋商谈 判地点，土耳其、阿曼等国已表示愿意主办美伊会谈。 9、美国 证券交易委员会文件显示，甲骨文申请 发行高达200亿美元的普通股。 10、AMD第四 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) Commission File Number 001-07882 ADVANCED MICRO DEVICES, INC. (Exact name of registrant as specified in its charter) Delaware 94-1692300 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 2485 Augustine Drive Santa Clara, California 95054 (Address of principal executive offices)(Zip Code) (408) 749-4000 (Registrant's telephone number, including area code) Securities r ...

Financial Data and Key Metrics Changes - In 2025, the company achieved record revenue of $34.6 billion, a 34% year-over-year increase, with net income rising 42% to a record $2.5 billion and free cash flow nearly doubling to $2.1 billion [5][6][23] - For Q4 2025, revenue reached $10.3 billion, up 34% year-over-year, with gross margin at 57%, an increase of 290 basis points year-over-year [5][24] Business Segment Data and Key Metrics Changes - Data center segment revenue increased 39% year-over-year to a record $5.4 billion, driven by strong demand for EPYC processors and MI350 products [7][25] - Client and gaming segment revenue rose 37% year-over-year to $3.9 billion, with client revenue at a record $3.1 billion, up 34% year-over-year [16][26] - Embedded segment revenue grew 3% year-over-year to $950 million, reflecting demand across various end markets [18][26] Market Data and Key Metrics Changes - The company reported strong demand from hyperscalers in the cloud market, with EPYC cloud instances increasing over 50% year-over-year [8][9] - The enterprise market saw a significant shift towards EPYC adoption, with over 3,000 solutions optimized for major workloads [8][9] Company Strategy and Development Direction - The company is focused on capturing growth opportunities in high-performance computing and AI, with plans to grow data center segment revenue by over 60% annually over the next three to five years [15][20] - Strategic partnerships, such as with Tata Consultancy Services, aim to co-develop industry-specific AI solutions [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth trajectory for 2026, driven by increased adoption of EPYC and Instinct products, alongside a return to growth in the embedded segment [22][30] - The company anticipates significant top-line and bottom-line growth, with a target of greater than 35% CAGR over the next three to five years [22] Other Important Information - The company closed the sale of its ZT Systems manufacturing business, which is reported separately in financial statements [27] - The company generated a record $2.3 billion in cash from operations during the quarter [28] Q&A Session Summary Question: Can you discuss customer engagements and demand for MI450 and Helios platforms? - Management confirmed strong customer engagements and progress on MI450 series development, with a ramp expected in the second half of the year [33][34] Question: Can you provide details on March guidance and data center GPU ramp? - Management indicated a sequential decline in client revenue but strong growth in data center, with expectations for GPU revenue to increase [38][40] Question: What are the assumptions for China MI308 sales beyond Q1? - Management forecasted $100 million in Q1 from MI308 sales to China but did not expect additional revenue due to the dynamic situation [45][46] Question: How is the company addressing server CPU capacity and growth trajectory? - Management noted increased supply capacity for server CPUs and strong demand, indicating a positive outlook for growth throughout 2026 [51][52] Question: What is the outlook for gross margins as new products ramp? - Management expressed optimism about gross margin progression, benefiting from favorable product mix and new product ramps [55][56]

Financial Data and Key Metrics Changes - In 2025, the company achieved record revenue of $34.6 billion, a 34% year-over-year increase, with net income rising 42% to $2.5 billion and free cash flow nearly doubling to $2.1 billion [5][6][23] - For Q4 2025, revenue reached $10.3 billion, up 34% year-over-year, with gross margin at 57%, an increase of 290 basis points year-over-year [5][24] Business Segment Data and Key Metrics Changes - Data center segment revenue grew 39% year-over-year to a record $5.4 billion, driven by strong demand for EPYC processors and MI350 products [7][25] - Client and gaming segment revenue increased 37% year-over-year to $3.9 billion, with client revenue at a record $3.1 billion, up 34% year-over-year [16][26] - Embedded segment revenue rose 3% year-over-year to $950 million, supported by demand in test and measurement and aerospace sectors [19][27] Market Data and Key Metrics Changes - In the cloud market, the number of EPYC cloud instances grew over 50% year-over-year to nearly 1,600, with significant adoption among hyperscalers [8][9] - The company noted a meaningful shift in EPYC adoption in the enterprise sector, with over 3,000 solutions now available optimized for major workloads [8] Company Strategy and Development Direction - The company is entering a multi-year demand supercycle for high-performance and AI computing, positioning itself to capture significant growth opportunities across all business segments [20] - The launch of the MI400 series and Helios platform is seen as a major inflection point for the AI business, with expectations of scaling AI revenue to tens of billions by 2027 [15][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth trajectory for 2026, anticipating strong demand for EPYC and Instinct products, with a target of over 60% annual growth in the data center segment [22][48] - The company is optimistic about the data center AI revenue potential, with significant customer engagements and a strong order book [33][41] Other Important Information - The company repurchased 12.4 million shares in 2025, returning $1.3 billion to shareholders, and ended the year with $9.4 billion remaining in its share repurchase program [29] - The company is actively working on multi-year agreements with suppliers to ensure adequate supply for future growth [84] Q&A Session Summary Question: Can you discuss customer engagements and demand for MI450 and Helios platforms? - Management confirmed strong customer engagement and progress on MI450 development, with expectations for a second-half launch and significant ramp-up in 2027 [34][35] Question: Can you provide details on March guidance and data center GPU ramp? - Management indicated a sequential decline in client revenue but strong growth in data center, with expectations for a solid ramp in GPU revenue throughout the year [38][40] Question: What is the outlook for data center revenue growth in 2026? - Management expressed bullishness on data center growth, citing strong demand for EPYC and MI450 products, with a long-term target of over 60% growth [45][48] Question: How is the company addressing supply chain challenges for server CPUs? - Management noted increased supply capacity for server CPUs and strong demand, indicating confidence in meeting growth targets [52][53] Question: What is the strategy regarding memory procurement and inflationary costs? - Management highlighted proactive planning for memory procurement, ensuring alignment with demand and ramp-up schedules [82][84] Question: How does the company view the competitive landscape with ARM and x86? - Management emphasized the importance of high-performance x86 CPUs for AI workloads, asserting that EPYC is optimized for current and future demands [79][80]

AMD (NasdaqGS:AMD) Q4 2025 Earnings call February 03, 2026 05:00 PM ET Speaker3Greetings, and welcome to the AMD fourth quarter and full year 2025 conference call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note that this conference is being recorded. I will now turn the conference over to Matt Ramsay, VP ...

来源：格隆汇APP 期内，经营利润率报28%，高过分析员预期的25.4%；资本开支录得2.22亿美元，少过市场估计的2.31亿 美元；研发开支报23.3亿美元，多于分析员预期的21.6亿美元。 格隆汇2月4日｜美国超微半导体(AMD.US)盘后跌逾7%，报224.93美元。超微半导体公布，第四财政季 度经营利润录得28.5亿美元，优于分析员预期的24.7亿美元；经调整后每股盈利报1.53美元，胜于市场 估计的1.32美元；经营收入录得102.7亿美元，当中包括来自中国的MI308人工智能(AI)芯片销售额3.9亿 美元，整体收入好过分析员预期的96.5亿美元。 AMD预计，第一财季经营收入将录得95亿至101亿美元，优于分析员平均估计的93.9亿美元，但部分预 测超过100亿美元，这项展望令原本希望看到AI算力开出增加、能带来更大回报的投资者感到失望；预 计经调整后毛利率约为55%，则高过市场预期的54.5%。 ...

It's been basically a quarter since my last analysis ( check it here ) of Advanced Micro Devices, Inc. ( AMD ), because my last article was right after Q3 earnings, where I mentioned thatEquity Research Analyst with a broad career in the financial market, covered both Brazilian and global stocks. As a value investor, my analysis is primarily fundamental, focusing on identifying undervalued stocks with growth potential. Feel free to reach out for collaborations or to connect!Analyst’s Disclosure: I/we have a ...

It's been basically a quarter since my last analysis ( check it here ) of Advanced Micro Devices, Inc. ( AMD ), because my last article was right after Q3 earnings, where I mentioned thatEquity Research Analyst with a broad career in the financial market, covered both Brazilian and global stocks. As a value investor, my analysis is primarily fundamental, focusing on identifying undervalued stocks with growth potential. Feel free to reach out for collaborations or to connect!Analyst’s Disclosure: I/we have a ...

AMD Stock Drops Despite Beat-And-Raise Earnings Report | Investor's Business DailyBREAKING: [Futures Fall; Google AI Spending Soars]---Advanced Micro Devices (AMD) late Tuesday easily beat Wall Street's targets for its fiscal fourth quarter and guided above estimates for the current period. But AMD stock fell in extended trading. The Santa Clara, Calif.-based fabless chipmaker earned an adjusted $1.53 a share on sales of $10.27 billion in the quarter ended Dec. 27. Analysts surveyed by FactSet had expected… ...