不过因Q1业绩指引令市场失望，在业绩公布后，AMD股价盘后暴跌约8%，报222.76美元。 截至周二收盘，该股今年以来累计上涨13%，现总市值3941.65亿美元。 周二美股盘后，AMD公布2025年第四季度及全年财务财报。 Q4营收和盈利均超出华尔街预期。其中，数据中心收入猛增近40%至54亿美元，创下公司史上单季最 高记录。 数据中心收入猛增近40% 财报显示，AMD 2025年第四季度营收103亿美元创纪录，同比增长34%。 第四季度，公司毛利率达54%，上年同期为51%；营业利润18亿美元，同比增长10%；净利润15亿美 元，同比增长213%；摊薄后每股收益0.92美元。 其中，中国市场的销售额意外增长。四季度AMD Instinct MI308芯片在中国的销售收入约为3.9亿美 元。 | | | GAAP Quarterly Financial Results | | | | | --- | --- | --- | --- | --- | --- | | | 04 2025 | C4 2034 | YY | Q13 2005 | 0/0 | | Revenue (SM) | $10:270 | 57 ...

Core Viewpoint - AMD reported strong financial results for Q3 of fiscal year 2025, with significant year-over-year growth in revenue and net profit, indicating robust performance across its business segments [2][4]. Financial Performance Summary - AMD's total revenue for Q3 reached $9.246 billion, a 36% increase year-over-year, while net profit was $1.243 billion, up 61% [2]. - The data center segment generated $4.341 billion in revenue, reflecting a 22% year-over-year growth, and turned around from an operating loss of $155 million in the previous quarter to an operating profit of $1.074 billion [4]. - The client and gaming segments saw substantial growth, with combined revenue of $4.048 billion, a 73% increase year-over-year, and operating profit of $867 million [4]. - The client segment alone achieved a record revenue of $2.750 billion, up 46% year-over-year, while the gaming segment revenue surged to $1.298 billion, a staggering 181% increase compared to $462 million in the same quarter last year [4]. - The embedded products segment reported revenue of $857 million, a slight decline of 8% year-over-year, but showed sequential growth [4]. - AMD's overall operating losses in other segments narrowed to $954 million, both year-over-year and quarter-over-quarter [4]. Future Outlook - For Q4 of fiscal year 2025, AMD projects revenue to be around $9.6 billion, with a year-over-year growth rate of approximately 25%, exceeding analyst expectations of $9.2 billion [4]. - The company anticipates a non-GAAP gross margin of about 54.5% for the upcoming quarter [4]. - Notably, AMD's revenue outlook does not include potential earnings from the shipment of AMD Instinct MI308 chips to China [4].