Form 8-K

8-K — ADVANCED MICRO DEVICES INC

Accession: 0000002488-26-000072

Filed: 2026-05-05

Period: 2026-05-05

CIK: 0000002488

SIC: 3674 (SEMICONDUCTORS & RELATED DEVICES)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Financial Statements and Exhibits

Documents

8-K — amd-20260505.htm (Primary)

EX-99.1 (q12026991.htm)

EX-99.2 (amdq126earningsslidesfin.htm)

GRAPHIC (amd-20260505_g1.jpg)

GRAPHIC (amdq126earningsslidesfin001.jpg)

GRAPHIC (amdq126earningsslidesfin002.jpg)

GRAPHIC (amdq126earningsslidesfin003.jpg)

GRAPHIC (amdq126earningsslidesfin004.jpg)

GRAPHIC (amdq126earningsslidesfin005.jpg)

GRAPHIC (amdq126earningsslidesfin006.jpg)

GRAPHIC (amdq126earningsslidesfin007.jpg)

GRAPHIC (amdq126earningsslidesfin008.jpg)

GRAPHIC (amdq126earningsslidesfin009.jpg)

GRAPHIC (amdq126earningsslidesfin010.jpg)

GRAPHIC (amdq126earningsslidesfin011.jpg)

GRAPHIC (amdq126earningsslidesfin012.jpg)

GRAPHIC (amdq126earningsslidesfin013.jpg)

GRAPHIC (amdq126earningsslidesfin014.jpg)

GRAPHIC (amdq126earningsslidesfin015.jpg)

GRAPHIC (amdq126earningsslidesfin016.jpg)

GRAPHIC (amdq126earningsslidesfin017.jpg)

GRAPHIC (amdq126earningsslidesfin018.jpg)

GRAPHIC (amdq126earningsslidesfin019.jpg)

GRAPHIC (amdq126earningsslidesfin020.jpg)

GRAPHIC (amdq126earningsslidesfin021.jpg)

GRAPHIC (amdq126earningsslidesfin022.jpg)

GRAPHIC (amdq126earningsslidesfin023.jpg)

GRAPHIC (amdq126earningsslidesfin024.jpg)

GRAPHIC (amdq126earningsslidesfin025.jpg)

GRAPHIC (amdq126earningsslidesfin026.jpg)

GRAPHIC (image20a.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: amd-20260505.htm · Sequence: 1

amd-20260505

0000002488false00000024882026-05-052026-05-05

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

May 5, 2026

Date of Report (Date of earliest event reported)

ADVANCED MICRO DEVICES, INC.

(Exact name of registrant as specified in its charter)

Delaware

001-07882

94-1692300

(State or Other Jurisdiction of

Incorporation)

(Commission

File Number)

(IRS 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)

N/A

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $0.01 par value

AMD

The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On May 5, 2026, Advanced Micro Devices, Inc. ("AMD") announced its financial results for its first quarter of 2026 ended March 28, 2026 in a press release that is attached hereto as Exhibit 99.1. Attached hereto as Exhibit 99.2 is a presentation regarding AMD's first quarter of 2026.

The attached Exhibits 99.1 and 99.2, in addition to financial results presented on a U.S. Generally Accepted Accounting Principles (“GAAP”) basis, contains certain non-GAAP financial information and forward-looking financial guidance. Certain of these non-GAAP financial measures will be used in AMD’s earnings conference call. A reconciliation of these non-GAAP financial measures to their nearest GAAP equivalents is provided in the data tables at the end of the attached Exhibits 99.1 and 99.2. These non-GAAP financial measures should be viewed in addition to and not as a substitute for or superior to AMD’s reported results prepared in accordance with GAAP.

The information in this report furnished pursuant to Items 2.02 and 7.01, including Exhibits 99.1 and 99.2 attached hereto, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section. It may only be incorporated by reference in another filing under the Exchange Act or the Securities Act of 1933, as amended, if such subsequent filing specifically references the information furnished pursuant to Items 2.02 and 7.01 of this report.

Item 7.01 Regulation FD Disclosure.

The information set forth under Item 2.02 “Results of Operations and Financial Condition” is incorporated into this Item 7.01 by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

EXHIBIT INDEX

Exhibit No.

Description

99.1

Press Release dated May 5, 2026

99.2

First Quarter 2026 Financial Results Presentation

104 Inline XBRL for the cover page of this Current Report on Form 8-K

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: May 5, 2026

ADVANCED MICRO DEVICES, INC.

By:

/s/ Jean Hu

Name:

Jean Hu

Title:

Executive Vice President, Chief Financial Officer & Treasurer

EX-99.1

Filename: q12026991.htm · Sequence: 2

Document

NEWS RELEASE

Media Contact:

Phil Hughes

AMD Communications

512-865-9697

phil.hughes@amd.com

Investor Contact:

Liz Stine

AMD Investor Relations

720-652-3965

liz.stine@amd.com

AMD Reports First Quarter 2026 Financial Results

SANTA CLARA, Calif. ― May 5, 2026 ― AMD (NASDAQ:AMD) today announced financial results for the first quarter of 2026. First quarter revenue was $10.3 billion, gross margin was 53%, operating income was $1.5 billion, net income was $1.4 billion and diluted earnings per share was $0.84. On a non-GAAP(*) basis, gross margin was 55%, operating income was $2.5 billion, net income was $2.3 billion and diluted earnings per share was $1.37.

“We delivered an outstanding first quarter, driven by accelerating demand for AI infrastructure, with Data Center now the primary driver of our revenue and earnings growth,” said Dr. Lisa Su, AMD chair and CEO. “We are seeing strong momentum as inferencing and agentic AI drive increasing demand for high-performance CPUs and accelerators. Looking ahead, we expect server growth to accelerate meaningfully as we scale supply to meet demand. Customer engagement around MI450 Series and Helios is strengthening, with leading customer forecasts exceeding our initial expectations and a growing pipeline of large-scale deployments providing us with increasing visibility into our growth trajectory."

“First quarter results reflect strong performance across all key financial metrics, with accelerating revenue growth, earnings expansion and record quarterly free cash flow,” said Jean Hu, AMD executive vice president, CFO and treasurer. “These results highlight continued momentum and execution across the business, demonstrating the leverage in our operating model as we invest for accelerated growth while expanding profitability.”

GAAP Quarterly Financial Results

Q1'26 Q1'25 Y/Y Q4'25 Q/Q

Revenue ($M) $10,253 $7,438 Up 38% $10,270 Flat

Gross profit ($M) $5,416 $3,736 Up 45% $5,577 Down 3%

Gross margin 53% 50% Up 3 ppts 54% Down 1 ppt

Operating expenses ($M) $3,940 $2,930 Up 34% $3,825 Up 3%

Operating income ($M) $1,476 $806 Up 83% $1,752 Down 16%

Operating margin 14% 11% Up 3 ppts 17% Down 3 ppts

Net income ($M) $1,383 $709 Up 95% $1,511 Down 8%

Diluted earnings per share $0.84 $0.44 Up 91% $0.92 Down 9%

Non-GAAP(*) Quarterly Financial Results

Q1'26 Q1'25 Y/Y Q4'25 Q/Q

Revenue ($M) $10,253 $7,438 Up 38% $10,270 Flat

Gross profit ($M) $5,685 $3,992 Up 42% $5,855 Down 3%

Gross margin 55% 54% Up 1 ppt 57% Down 2 ppts

Operating expenses ($M) $3,145 $2,213 Up 42% $3,001 Up 5%

Operating income ($M) $2,540 $1,779 Up 43% $2,854 Down 11%

Operating margin 25% 24% Up 1 ppt 28% Down 3 ppts

Net income ($M) $2,265 $1,566 Up 45% $2,519 Down 10%

Diluted earnings per share $1.37 $0.96 Up 43% $1.53 Down 10%

Segment Summary

•Data Center segment revenue was $5.8 billion, up 57% year-over-year, driven by strong demand for AMD EPYC™ processors and the continued ramp of AMD Instinct™ GPU shipments.

•Client and Gaming segment revenue was $3.6 billion, up 23% year-over-year. Client business revenue was $2.9 billion, up 26% year-over-year, primarily driven by strong demand for leadership AMD Ryzen™ processors and continued market share gains. Gaming business revenue was $720 million, up 11% year-over-year, driven by solid demand for AMD Radeon™ GPUs partially offset by lower semi-custom revenue.

•Embedded segment revenue was $873 million, up 6% year-over-year, as demand strengthened across several end markets.

Recent PR Highlights

•AMD expanded its data center offerings and deepened strategic collaborations to deliver global compute infrastructure:

◦Meta and AMD announced plans to deploy up to 6 gigawatts of AMD Instinct GPUs, with the first 1-GW to be powered by a custom AMD Instinct MI450-based GPU. Meta will also be a lead customer for the upcoming 6th Gen AMD EPYC CPUs, codenamed “Venice” and “Verano.”

◦AWS, Google Cloud, Microsoft Azure and Tencent announced new and expanded 5th Gen EPYC-powered cloud instances, including Google Cloud H4D VMs for HPC and Azure instances across general-purpose, memory- and compute-optimized workloads.

◦In the latest MLPerf® results, AMD Instinct MI355X delivered strong competitive performance across the full suite, with leadership results in multiple categories.

◦AMD announced EPYC 8005 server CPUs, delivering leadership performance per-watt-per-dollar optimized for telecommunications and edge environments.

◦AMD and Tata Consultancy Services (TCS) are co-developing AMD Helios-based rack-scale AI infrastructure to accelerate enterprise AI deployments and sovereign AI initiatives in India.

◦AMD and Samsung are collaborating on next-generation AI memory and compute technologies, including HBM4 supply for AMD Instinct MI455X GPUs and advanced DRAM solutions for 6th Gen AMD EPYC CPUs.

◦AMD is collaborating with NAVER Cloud and Upstage to deploy AMD Instinct GPUs and EPYC CPUs across their AI infrastructure, advancing sovereign AI initiatives in Korea.

◦AMD joined Open Telco AI, a GSMA-led initiative to accelerate telco-grade AI models and systems, with AMD Instinct GPUs training Open Telco AI models.

•AMD expanded its offerings for premium enterprise and enthusiast PCs, including:

◦The AMD Ryzen AI PRO 400 Series processors, expanding its lineup of next-generation enterprise desktop PCs that deliver Copilot+ experiences.

◦The Ryzen 9950X3D2 Dual Edition processor, delivering enhanced performance for creative and developer workloads with dual stacks of AMD 3D V-Cache™ technology.

•AMD announced new adaptive and embedded AI processors, including:

◦New Ryzen AI Embedded P100 Series processors, delivering scalable, power-efficient AI compute for industrial and edge applications.

◦The Kintex™ UltraScale+™ Gen 2 family of mid-range FPGAs, delivering advanced memory bandwidth and I/O performance for industrial, imaging and broadcast applications.

Current Outlook

AMD’s outlook statements are based on current expectations. The following statements are forward-looking and actual results could differ materially depending on market conditions and the factors set forth under “Cautionary Statement” below.

For the second quarter of 2026, AMD expects revenue to be approximately $11.2 billion, plus or minus $300 million. The mid-point of the revenue range represents year-over-year growth of approximately 46% and a sequential increase of approximately 9%. Non-GAAP gross margin is expected to be approximately 56%.

AMD Teleconference

AMD will hold a conference call at 2:00 p.m. PT (5:00 p.m. ET) today to discuss its first quarter 2026 financial results. AMD will provide a real-time audio broadcast of the teleconference on the Investor Relations page of its website at www.amd.com.

RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES

(in millions, except per share data) (Unaudited)

Three Months Ended

March 28,

2026 December 27,

2025 March 29,

2025

GAAP gross profit $ 5,416 $ 5,577 $ 3,736

GAAP gross margin 53 % 54 % 50 %

Stock-based compensation 8 8 5

Amortization of acquisition-related intangibles 261 260 251

Acquisition-related and other costs (1)

— 1 —

Loss contingency on legal matter — 9 —

Non-GAAP gross profit $ 5,685 $ 5,855 $ 3,992

Non-GAAP gross margin 55 % 57 % 54 %

GAAP operating expenses $ 3,940 $ 3,825 $ 2,930

GAAP operating expenses/revenue % 38 % 37 % 39 %

Stock-based compensation 479 478 359

Amortization of acquisition-related intangibles 290 297 316

Acquisition-related and other costs (1)

26 49 42

Non-GAAP operating expenses $ 3,145 $ 3,001 $ 2,213

Non-GAAP operating expenses/revenue % 31 % 29 % 30 %

GAAP operating income $ 1,476 $ 1,752 $ 806

GAAP operating margin 14 % 17 % 11 %

Stock-based compensation 487 486 364

Amortization of acquisition-related intangibles 551 557 567

Acquisition-related and other costs (1)

26 50 42

Loss contingency on legal matter — 9 —

Non-GAAP operating income $ 2,540 $ 2,854 $ 1,779

Non-GAAP operating margin 25 % 28 % 24 %

Three Months Ended

March 28,

2026 December 27,

2025 March 29,

2025

GAAP net income / earnings per share $ 1,383 $ 0.84 $ 1,511 $ 0.92 $ 709 $ 0.44

Stock-based compensation 487 0.30 486 0.29 364 0.22

Amortization of acquisition-related intangibles 551 0.33 557 0.34 567 0.35

Acquisition-related and other costs (1)

27 0.02 50 0.03 42 0.03

Loss contingency on legal matter — — 9 0.01 — —

(Gains) losses on long-term investments, net (66) (0.04) (280) (0.17) 2 —

Equity income in investee (6) — (1) — (7) —

Income tax provision (100) (0.07) 78 0.04 (111) (0.08)

(Income) loss from discontinued operations, net of tax (2)

(11) (0.01) 109 0.07 — —

Non-GAAP net income / earnings per share $ 2,265 $ 1.37 $ 2,519 $ 1.53 $ 1,566 $ 0.96

(1) Acquisition-related and other costs primarily include transaction costs, purchase price fair value adjustments for inventory, certain compensation charges, and workforce rebalancing charges.

(2) (Income) loss from discontinued operations relates to ZT Systems' manufacturing business which was divested in the fourth quarter of 2025, and includes impact from measurement period adjustments.

About AMD

AMD (NASDAQ: AMD) drives innovation in high-performance and AI computing to solve the world’s most important challenges. Today, AMD technology powers billions of experiences across cloud and AI infrastructure, embedded systems, AI PCs and gaming. With a broad portfolio of AI-optimized CPUs, GPUs, networking and software, AMD delivers full-stack AI solutions that provide the performance and scalability needed for a new era of intelligent computing. Learn more at www.amd.com.

Cautionary Statement

This press release contains forward-looking statements concerning Advanced Micro Devices, Inc. (AMD) such as, AMD’s strong momentum based on increasing demand for high-performance CPUs and accelerators due to inferencing and agentic AI; server growth expected to accelerate meaningfully; customer engagements for MI450 Series and Helio strengthening; customer forecasts exceeding initial expectations; AMD’s growing pipeline and growth trajectory; AMD investing to accelerate growth and expand profitability; expected plans, benefits and timing of AMD’s strategic collaborations; the features, functionality, performance, availability, timing and expected benefits of future AMD products; and AMD’s expected second quarter 2026 financial outlook, including revenue and non-GAAP gross margin, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as "would," "may," "expects," "believes," "plans," "intends," "projects" and other terms with similar meaning. Investors are cautioned that the forward-looking statements in this press release are based on current beliefs, assumptions and expectations, speak only as of the date of this press release and involve risks and uncertainties that could cause actual results to differ materially from current expectations. Such statements are subject to certain known and unknown risks and uncertainties, many of which are difficult to predict and are generally beyond AMD’s control, that could cause actual results and other future events to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Material factors that could cause actual results to differ materially from current expectations include, without limitation, the following: impact of government actions and regulations such as export regulations, import tariffs, trade protection measures, and licensing requirements; competitive markets in which AMD’s products are sold; the cyclical nature of the semiconductor industry; market conditions of the industries in which AMD products are sold; AMD's ability to introduce products on a timely basis with expected features and performance levels; loss of a significant customer; economic and market uncertainty; quarterly and seasonal sales patterns; AMD's ability to adequately protect its technology or other intellectual property; unfavorable currency exchange rate fluctuations; ability of third party manufacturers to manufacture AMD's products on a timely basis in sufficient quantities and using competitive technologies; availability of essential equipment, materials, components (such as memory supply), substrates or manufacturing processes; ability to achieve expected manufacturing yields for AMD’s products; AMD's ability to generate revenue from its semi-custom SoC products; potential security vulnerabilities; potential security incidents including IT outages, data loss, data breaches and cyberattacks; uncertainties involving the ordering and shipment of AMD’s products; AMD’s reliance on third-party intellectual property to design and introduce new products; AMD's reliance on third-party companies for design, manufacture and supply of motherboards, software, memory and other computer platform components; AMD's reliance on Microsoft and other software vendors' support to design and develop software to run on AMD’s products; AMD’s reliance on third-party distributors and add-in-board partners; impact of modification or interruption of AMD’s internal business processes and information systems; compatibility of AMD’s products with some or all industry-standard software and hardware; costs related to defective products; failure to maintain an efficient supply chain as customer demand changes; AMD's ability to rely on third party supply-chain logistics functions; AMD’s ability to effectively control sales of its products on the gray market; impact of climate change on AMD’s business; AMD’s ability to realize its deferred tax assets; potential tax liabilities; current and future claims and litigation; impact of environmental laws, conflict minerals related provisions and other laws or regulations; evolving expectations from governments, investors, customers and other stakeholders regarding corporate responsibility matters; issues related to the responsible use of AI; restrictions imposed by agreements governing AMD’s notes, the guarantees of Xilinx’s notes and the revolving credit agreement; AMD’s ability to satisfy financial obligations under guarantees, leases and other commercial commitments; impact of acquisitions, joint ventures and/or investments on AMD’s business and AMD’s ability to integrate acquired businesses; impact of any impairment of the combined company’s assets; political, legal and economic risks and natural disasters; future impairments of technology license purchases; AMD’s ability to attract and retain key employees; and AMD’s stock price volatility. Investors are urged to review in detail the risks and uncertainties in AMD’s Securities and Exchange Commission filings, including but not limited to AMD’s most recent reports on Forms 10-K and 10-Q.

(*) In this earnings press release, in addition to GAAP financial results, AMD has provided non-GAAP financial measures including non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating expenses/revenue percent, non-GAAP operating income, non-GAAP operating margin, non-GAAP net income and non-GAAP diluted earnings per share. AMD uses a normalized tax rate in its computation of the non-GAAP income tax provision to provide better consistency across the reporting periods. For fiscal 2026, AMD used a non-GAAP tax rate of 13%, which excludes the tax impact of pre-tax non-GAAP adjustments. AMD also provides adjusted EBITDA, free cash flow and free cash flow margin as supplemental non-GAAP measures of its performance. These items are defined in the footnotes to the selected corporate data tables provided at the end of this earnings press release. AMD is providing these financial measures because it believes this non-GAAP presentation makes it easier for investors to compare its operating results for current and historical periods and also because AMD believes it assists investors in comparing AMD’s performance across reporting periods on a consistent basis by excluding items that it does not believe are indicative of its core operating performance and for the other reasons described in the footnotes to the selected data tables. The non-GAAP financial measures disclosed in this earnings press release should be viewed in addition to and not as a substitute for or superior to AMD’s reported results prepared in accordance with GAAP and should be read only in conjunction with AMD’s Consolidated Financial Statements prepared in accordance with GAAP. These non-GAAP financial measures referenced are reconciled to their most directly comparable GAAP financial measures in the data tables in this earnings press release. This earnings press release also contains forward-looking non-GAAP gross margin concerning AMD’s financial outlook, which is based on current expectations as of May 5, 2026, and assumptions and beliefs that involve numerous risks and uncertainties. Adjustments to arrive at the GAAP gross margin outlook typically include stock-based compensation, amortization of acquired intangible assets and acquisition-related and other costs. The timing and impact of such adjustments are dependent on future events that are typically uncertain or outside of AMD's control, therefore, a reconciliation to equivalent GAAP measures is not practicable at this time. AMD undertakes no intent or obligation to publicly update or revise its outlook statements as a result of new information, future events or otherwise, except as may be required by law.

-30-

©2026 Advanced Micro Devices, Inc. All rights reserved. AMD, the AMD Arrow logo, 3D V-Cache, Alveo, AMD Instinct, EPYC, FidelityFX, Kria, Radeon, Ryzen, Threadripper, Ultrascale+, Versal, Zynq, and combinations thereof, are trademarks of Advanced Micro Devices, Inc.

ADVANCED MICRO DEVICES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Millions except per share amounts and percentages) (Unaudited)

Three Months Ended

March 28,

2026 December 27,

2025 March 29,

2025

Net revenue $ 10,253 $ 10,270 $ 7,438

Cost of sales 4,576 4,433 3,451

Amortization of acquisition-related intangibles 261 260 251

Total cost of sales 4,837 4,693 3,702

Gross profit 5,416 5,577 3,736

Gross margin 53 % 54 % 50 %

Research and development 2,397 2,330 1,728

Marketing, general and administrative 1,253 1,198 886

Amortization of acquisition-related intangibles 290 297 316

Total operating expenses 3,940 3,825 2,930

Operating income 1,476 1,752 806

Interest expense (37) (36) (20)

Other income (expense), net 165 358 39

Income from continuing operations before income taxes and equity income 1,604 2,074 825

Income tax provision 238 455 123

Equity income in investee 6 1 7

Income from continuing operations, net of tax 1,372 1,620 709

Income (loss) from discontinued operations, net of tax 11 (109) —

Net income $ 1,383 $ 1,511 $ 709

Earnings (loss) per share:

Basic earnings from continuing operations $ 0.84 $ 1.00 $ 0.44

Basic earnings (loss) from discontinued operations $ 0.01 $ (0.07) $ —

Basic earnings per share $ 0.85 $ 0.93 $ 0.44

Diluted earnings from continuing operations $ 0.83 $ 0.99 $ 0.44

Diluted earnings (loss) from discontinued operations $ 0.01 $ (0.07) $ —

Diluted earnings per share $ 0.84 $ 0.92 $ 0.44

Shares used in per share calculation

Basic 1,631 1,630 1,620

Diluted 1,650 1,649 1,626

ADVANCED MICRO DEVICES, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(Millions)

March 28,

2026 December 27,

2025

(Unaudited)

ASSETS

Current assets:

Cash and cash equivalents $ 5,585 $ 5,539

Short-term investments 6,762 5,013

Accounts receivable, net 6,035 6,315

Inventories 8,045 7,920

Prepaid expenses and other current assets 2,201 2,160

Total current assets 28,628 26,947

Property and equipment, net 2,723 2,312

Goodwill 25,344 25,126

Acquisition-related intangibles, net 16,154 16,705

Deferred tax assets 476 384

Other non-current assets 6,317 5,452

Total Assets $ 79,642 $ 76,926

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Accounts payable $ 2,997 $ 2,929

Accrued liabilities 5,785 5,250

Current portion of long-term debt, net 874 874

Other current liabilities 850 402

Total current liabilities 10,506 9,455

Long-term debt 2,350 2,348

Long-term operating lease liabilities 647 625

Deferred tax liabilities 307 313

Other long-term liabilities 1,370 1,186

Stockholders' equity:

Capital stock:

Common stock, par value $0.01 17 17

Additional paid-in capital 63,856 63,365

Treasury stock, at cost (7,421) (7,079)

Retained earnings 8,082 6,699

Accumulated other comprehensive loss (72) (3)

Total stockholders' equity 64,462 62,999

Total Liabilities and Stockholders' Equity $ 79,642 $ 76,926

ADVANCED MICRO DEVICES, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Millions) (Unaudited)

Three Months Ended

March 28,

2026 March 29,

2025

Cash flows from operating activities:

Net income $ 1,383 $ 709

(Income) from discontinued operations, net of tax (11) —

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization 206 175

Amortization of acquisition-related intangibles 551 567

Stock-based compensation 487 364

(Gains) losses on long-term investments, net (66) 2

Deferred income taxes (79) (167)

Other 28 37

Changes in operating assets and liabilities:

Accounts receivable, net 280 748

Inventories (125) (682)

Prepaid expenses and other assets (308) (237)

Accounts payable (104) (289)

Accrued and other liabilities 713 (288)

Net cash provided by operating activities of continuing operations 2,955 939

Cash flows from investing activities:

Purchases of property and equipment (389) (212)

Purchases of short-term investments (2,545) (304)

Proceeds from maturity of short-term investments 652 365

Proceeds from sale of short-term investments 126 33

Purchases of long-term investments (409) (239)

Net cash used in investing activities of continuing operations (2,565) (357)

Cash flows from financing activities:

Proceeds from debt and commercial paper issuance, net of issuance costs — 2,441

Proceeds from sales of common stock through employee equity plans 5 4

Repurchases of common stock (221) (749)

Stock repurchases for tax withholding on employee equity plans (134) (30)

Net cash (used in) provided by financing activities of continuing operations (350) 1,666

Net increase in cash, cash equivalents and restricted cash 40 2,248

Cash, cash equivalents and restricted cash at beginning of period 5,556 3,811

Cash, cash equivalents and restricted cash at end of period $ 5,596 $ 6,059

Reconciliation of cash, cash equivalents and restricted cash

Cash and cash equivalents $ 5,585 $ 6,049

Restricted cash included in Prepaid expenses and other current assets 11 10

Cash, cash equivalents and restricted cash at end of period $ 5,596 $ 6,059

ADVANCED MICRO DEVICES, INC.

SELECTED CORPORATE DATA

(Millions) (Unaudited)

Three Months Ended

March 28,

2026 December 27,

2025 March 29,

2025

Segment and Disaggregated Revenue Information (1)

Net Revenue:

Data Center Segment $ 5,775 $ 5,380 $ 3,674

Client and Gaming Segment

Client 2,885 3,097 2,294

Gaming 720 843 647

Total Client and Gaming 3,605 3,940 2,941

Embedded Segment 873 950 823

Total net revenue $ 10,253 $ 10,270 $ 7,438

Operating Income (Loss):

Data Center Segment $ 1,599 $ 1,752 $ 932

Client and Gaming Segment 575 725 496

Embedded Segment 338 357 328

All other (1,036) (1,082) (950)

Total operating income $ 1,476 $ 1,752 $ 806

Other Data

Capital expenditures $ 389 $ 222 $ 212

Adjusted EBITDA (2)

$ 2,746 $ 3,048 $ 1,954

Cash, cash equivalents and short-term investments $ 12,347 $ 10,552 $ 7,310

Free cash flow (3)

$ 2,566 $ 2,082 $ 727

Total assets $ 79,642 $ 76,926 $ 71,550

Total debt $ 3,224 $ 3,222 $ 4,164

(1) The Company operates as three operating segments, Data Center, Client and Gaming, and Embedded segments.

The Data Center segment primarily includes Artificial Intelligence (AI) accelerators, microprocessors (CPUs) for servers, graphics processing units (GPUs), accelerated processing units (APUs), data processing units (DPUs), AI Network Interface Cards (AI NICs), Field Programmable Gate Arrays (FPGAs) and adaptive System-on-Chip (SoC) products for data centers.

The Client and Gaming segment primarily includes CPUs, APUs, chipsets for desktops and notebooks, discrete GPUs, and semi-custom SoC products and development services.

The Embedded segment primarily includes embedded CPUs, APUs, FPGAs, System on Modules (SOMs), and adaptive SoC products.

From time to time, the Company may also sell or license portions of its IP portfolio.

All Other category primarily includes certain expenses and credits that are not allocated to any of the operating segments, such as amortization of acquisition-related intangibles, employee stock-based compensation expense, and acquisition-related and other costs.

(2) Reconciliation of GAAP Net Income to Adjusted EBITDA

Three Months Ended

(Millions) (Unaudited) March 28,

2026 December 27,

2025 March 29,

2025

GAAP net income $ 1,383 $ 1,511 $ 709

Interest expense 37 36 20

Other (income) expense, net (165) (358) (39)

Income tax provision (benefit) 238 455 123

Equity income in investee (6) (1) (7)

Stock-based compensation 487 486 364

Depreciation and amortization 206 194 175

Amortization of acquisition-related intangibles 551 557 567

Acquisition-related and other costs 26 50 42

Loss contingency on legal matter — 9 —

(Income) loss from discontinued operations, net of tax (11) 109 —

Adjusted EBITDA $ 2,746 $ 3,048 $ 1,954

The Company presents “Adjusted EBITDA” as a supplemental measure of its performance. Adjusted EBITDA for the Company is determined by adjusting GAAP net income for interest expense, other (income) expense, net, income tax provision (benefit), equity income in investee, stock-based compensation, depreciation and amortization expense, amortization of acquisition-related intangibles, acquisition-related and other costs, loss contingency on legal matter, and (income) loss from discontinued operations, net of tax. The Company calculates and presents Adjusted EBITDA because management believes it is of importance to investors and lenders in relation to its overall capital structure and its ability to borrow additional funds. In addition, the Company presents Adjusted EBITDA because it believes this measure assists investors in comparing its performance across reporting periods on a consistent basis by excluding items that the Company does not believe are indicative of its core operating performance. The Company’s calculation of Adjusted EBITDA may or may not be consistent with the calculation of this measure by other companies in the same industry. Investors should not view Adjusted EBITDA as an alternative to the GAAP operating measure of net income or GAAP liquidity measures of cash flows from operating, investing and financing activities. In addition, Adjusted EBITDA does not take into account changes in certain assets and liabilities that can affect cash flows.

(3) Reconciliation of GAAP Net Cash Provided by Operating Activities of Continuing Operations to Free Cash Flow

Three Months Ended

(Millions except percentages) (Unaudited) March 28,

2026 December 27,

2025 March 29,

2025

GAAP net cash provided by operating activities of continuing operations $ 2,955 $ 2,304 $ 939

Operating cash flow margin % from continuing operations 29 % 22 % 13 %

Purchases of property and equipment (389) (222) (212)

Free cash flow $ 2,566 $ 2,082 $ 727

Free cash flow margin % 25 % 20 % 10 %

The Company also presents free cash flow as a supplemental Non-GAAP measure of its performance. Free cash flow is determined by adjusting GAAP net cash provided by operating activities of continuing operations for capital expenditures, and free cash flow margin % is free cash flow expressed as a percentage of the Company's net revenue. The Company calculates and communicates free cash flow in the financial earnings press release because management believes it is of importance to investors to understand the nature of these cash flows. The Company’s calculation of free cash flow may or may not be consistent with the calculation of this measure by other companies in the same industry. Investors should not view free cash flow as an alternative to GAAP liquidity measures of cash flows from operating activities.

EX-99.2

Filename: amdq126earningsslidesfin.htm · Sequence: 3

amdq126earningsslidesfin

AMD Financial Results First Quarter 2026 May 5, 2026

2 | | Q1 2026 FINANCIAL RESULTS – May 5, 2026 Cautionary Statement This presentation contains forward-looking statements concerning Advanced Micro Devices, Inc. (AMD), such as the features, functionality, performance, availability, timing and expected benefits of future AMD products; AMD's large growth opportunities across diverse set of markets; AMD's data center AI accelerator opportunity; the expected plans, benefits and timing of AMD’s strategic collaborations; the strategic partnership with Meta and the deployment of up to six gigawatts of AMD Instinct GPUs; AMD's expected second quarter 2026 financial outlook, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP Interest Expense/Other Income (Expense), net, non-GAAP tax rate and diluted share count; AMD’s large and compelling TAM; AMD’s ability to expand Data Center and AI leadership; AMD's financial and operating performance; and AMD’s ability to drive long-term shareholder returns, which are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as "would," "may," "expects," "believes," "plans," "intends," "projects" and other terms with similar meaning. Investors are cautioned that the forward-looking statements in this press release are based on current beliefs, assumptions and expectations, speak only as of the date of this press release and involve risks and uncertainties that could cause actual results to differ materially from current expectations. Such statements are subject to certain known and unknown risks and uncertainties, many of which are difficult to predict and are generally beyond AMD’s control, that could cause actual results and other future events to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Material factors that could cause actual results to differ materially from current expectations include, without limitation, the following: impact of government actions and regulations such as export regulations, import tariffs, trade protection measures, and licensing requirements; competitive markets in which AMD’s products are sold; the cyclical nature of the semiconductor industry; market conditions of the industries in which AMD products are sold; AMD's ability to introduce products on a timely basis with expected features and performance levels; loss of a significant customer; economic and market uncertainty; quarterly and seasonal sales patterns; AMD's ability to adequately protect its technology or other intellectual property; unfavorable currency exchange rate fluctuations; ability of third party manufacturers to manufacture AMD's products on a timely basis in sufficient quantities and using competitive technologies; availability of essential equipment, materials, components (such as memory), substrates or manufacturing processes; ability to achieve expected manufacturing yields for AMD’s products; AMD's ability to generate revenue from its semi-custom SoC products; potential security vulnerabilities; potential security incidents including IT outages, data loss, data breaches and cyberattacks; uncertainties involving the ordering and shipment of AMD’s products; AMD’s reliance on third-party intellectual property to design and introduce new products; AMD's reliance on third-party companies for design, manufacture and supply of motherboards, software, memory and other computer platform components; AMD's reliance on Microsoft and other software vendors' support to design and develop software to run on AMD’s products; AMD’s reliance on third-party distributors and add-in-board partners; impact of modification or interruption of AMD’s internal business processes and information systems; compatibility of AMD’s products with some or all industry-standard software and hardware; costs related to defective products; failure to maintain an efficient supply chain as customer demand changes; AMD's ability to rely on third party supply-chain logistics functions; AMD’s ability to effectively control sales of its products on the gray market; impact of climate change on AMD’s business; AMD’s ability to realize its deferred tax assets; potential tax liabilities; current and future claims and litigation; impact of environmental laws, conflict minerals related provisions and other laws or regulations; evolving expectations from governments, investors, customers and other stakeholders regarding corporate responsibility matters; issues related to the responsible use of AI; restrictions imposed by agreements governing AMD’s notes, the guarantees of Xilinx’s notes and the revolving credit agreement; AMD’s ability to satisfy financial obligations under guarantees, leases and other commercial commitments; impact of acquisitions, joint ventures and/or investments on AMD’s business and AMD’s ability to integrate acquired businesses; impact of any impairment of the combined company’s assets; political, legal and economic risks and natural disasters; future impairments of technology license purchases; AMD’s ability to attract and retain key employees; and AMD’s stock price volatility. Investors are urged to review in detail the risks and uncertainties in AMD’s Securities and Exchange Commission filings, including but not limited to AMD’s most recent reports on Forms 10-K and 10-Q. This presentation also contains estimates and other statistical data made by independent parties and by us relating to market size and other data about our industry. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. NON-GAAP Financial Measures In this presentation, in addition to GAAP financial results, AMD has provided non-GAAP financial measures including non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP operating expenses/revenue percent, non-GAAP operating income, non-GAAP operating margin, non-GAAP net income and non-GAAP diluted earnings per share. AMD uses a normalized tax rate in its computation of the non-GAAP income tax provision to provide better consistency across the reporting periods. For fiscal 2026, AMD uses a projected non-GAAP tax rate of 13%, which excludes the tax impact of pre-tax non-GAAP adjustments. AMD also provides adjusted free cash flow as supplemental non- GAAP measures of its performance. AMD is providing these financial measures because it believes this non-GAAP presentation makes it easier for investors to compare its operating results for current and historical periods and also because AMD believes it assists investors in comparing AMD’s performance across reporting periods on a consistent basis by excluding items that it does not believe are indicative of its core operating performance. The non-GAAP financial measures disclosed in this presentation should be viewed in addition to and not as a substitute for or superior to AMD’s reported results prepared in accordance with GAAP and should be read only in conjunction with AMD’s Consolidated Financial Statements prepared in accordance with GAAP. These non-GAAP financial measures referenced are reconciled to their most directly comparable GAAP financial measures in the Appendices at the end of this presentation. This presentation also contains forward-looking non-GAAP measures concerning AMD’s financial outlook such as gross margin, operating expenses, interest expense/other income (expense), net, tax rate and diluted share count. These forward-looking non- GAAP measures are based on current expectations as of May 5, 2026, and assumptions and beliefs that involve numerous risks and uncertainties. AMD undertakes no intent or obligation to publicly update or revise its forward-looking statements made in this presentation except as may be required by law.

3 | | Q1 2026 FINANCIAL RESULTS – May 5, 2026 Our Journey Leadership Product Portfolio Expanding Customer & Partner Ecosystem Data Center and AI Growth Strong Financial Foundation

4 | | Q1 2026 FINANCIAL RESULTS – May 5, 2026 Powering AI and High-Performance Compute Everywhere Strategic Pillars High-Performance, Adaptive and Custom AI Platforms Powering AI Everywhere Cloud, Enterprise and Rack-Scale Solutions Expand Data Center Leadership Production-Grade AMD ROCm Software Stack Open Software Platforms & Developer Enablement CPU, GPU, FPGA, Networking, System-on-Chip, Chiplets & Packaging Extend Compute Technology Leadership

5 | | Q1 2026 FINANCIAL RESULTS – May 5, 2026 Large Growth Opportunities Across a Diverse Set of Markets Embedded Industry’s broadest portfolio of adaptive and embedded computing platforms Data Center Leadership performance and TCO across cloud, enterprise and AI workloads Client and Gaming Performance, efficiency and AI capabilities for commercial and consumer PC and gaming experiences

6 | | Q1 2026 FINANCIAL RESULTS – May 5, 2026 Q1 2026 Revenue Revenue of $10.3 billion increased 38% y/y Driven primarily by strong growth in our Data Center and Client and Gaming segments and a return to growth in the Embedded segment $7.4B $10.3B Q1 2025 Q1 2026

7 | | Q1 2026 FINANCIAL RESULTS – May 5, 2026 Q1 2026 Gross Margin 1. See Appendices for GAAP to Non-GAAP reconciliation GAAP Non-GAAP 1 54% 55% Q1 2025 Q1 2026 Non-GAAP gross margin1 was up 170bps y/y driven by a favorable product mix, including a higher Data Center revenue contribution 50% 53% Q1 2025 Q1 2026

8 | | Q1 2026 FINANCIAL RESULTS – May 5, 2026 Q1 2026 Operating Income GAAP Non-GAAP 1 Operating income growth driven by higher revenue partially offset by higher operating expenses Q1 2025 Q1 2026 $0.8B $1.5B 1. See Appendices for GAAP to Non-GAAP reconciliation $1.8B $2.5B Q1 2025 Q1 2026

9 | | Q1 2026 FINANCIAL RESULTS – May 5, 2026 GAAP EPS up 91% y/y, primarily driven by higher revenue Q1 2026 Diluted Earnings Per Share GAAP Non-GAAP 1 1. See Appendices for GAAP to Non-GAAP reconciliation $0.44 $0.84 Q1 2025 Q1 2026 Non-GAAP EPS up 43% y/y driven by strong revenue growth and both gross and operating margin expansion $0.96 $1.37 Q1 2025 Q1 2026

10 | | Q1 2026 FINANCIAL RESULTS – May 5, 2026 Q1 2026 Summary P&L | GAAP Q/QQ4’25Y/YQ1’25Q1’26$ in millions, except per share data and % Flat $10,270 Up 38% $7,438 $10,253 Revenue Down 3% $5,577 Up 45% $3,736 $5,416 Gross Profit Down 1 ppt 54%Up 3 ppts 50%53%Gross Margin Up 3% $3,825 Up 34% $2,930 $3,940 Operating Expenses Up 1% 37%Down 1% 39%38%Operating Expense/Revenue % Down 16% $1,752 Up 83% $806 $1,476 Operating Income Down 3 ppts 17%Up 3 ppts 11%14%Operating Margin Down 8% $1,511 Up 95% $709 $1,383 Net Income Down 9% $0.92 Up 91% $0.44 $0.84 Diluted Earnings Per Share

11 | | Q1 2026 FINANCIAL RESULTS – May 5, 2026 Q1 2026 Summary P&L | NON-GAAP1 Q/QQ4’25Y/YQ1’25Q1’26$ in millions, except per share data and % Flat $10,270 Up 38% $7,438 $10,253 Revenue Down 3% $5,855 Up 42% $3,992 $5,685 Gross Profit Down 2 ppts 57%Up 1 ppt 54%55%Gross Margin Up 5% $3,001 Up 42% $2,213 $3,145 Operating Expenses Up 2% 29%Up 1% 30%31%Operating Expense/Revenue % Down 11% $2,854 Up 43% $1,779 $2,540 Operating Income Down 3 ppts 28%Up 1 ppt 24%25%Operating Margin Down 10% $2,519 Up 45% $1,566 $2,265 Net Income Down 10% $1.53 Up 43% $0.96 $1.37 Diluted Earnings Per Share 1. See Appendices for GAAP to Non-GAAP reconciliation

12 | | Q1 2026 FINANCIAL RESULTS – May 5, 2026 Q1 2026 Segment Results Q/QQ4'25Y/YQ1’25Q1’26$ in millions Data Center Up 7%5,380Up 57%3,6745,775Net Revenue Down 9%1,752 Up 72%932 1,599 Operating Income Client & Gaming Down 9%3,940Up 23%2,9413,605Net Revenue Down 21%725Up 16%496 575 Operating Income Embedded Down 8%950Up 6%823873Net Revenue Down 5%357Up 3%328 338 Operating Income

13 | | Q1 2026 FINANCIAL RESULTS – May 5, 2026 1. See Appendices for GAAP to Non-GAAP reconciliation Q/QQ4’25Q1’26$ in millions Up 17% $10,552 $12,347 Cash, Cash Equivalents and Short-term Investments Down 4% $6,315 $6,035Accounts Receivable, Net Up 2% $7,920 $8,045 Inventories Flat $3,222 $3,224 Total Debt Q1 2026 Summary Balance Sheet Items Record cash from operating activities of continuing operations of $3.0 billion; record free cash flow of $2.6 billion1

14 | | Q1 2026 FINANCIAL RESULTS – May 5, 2026 Driven by strong demand for AMD EPYCTM processors and AMD InstinctTM GPUs Strategic Highlights Q1 2026 Data Center Segment Revenue $3.7B $5.8B Q1 2025 Q1 2026 Revenue $5.8 Billion Up 57% y/y Operating Margin Driven by higher revenue partially offset by higher operating expenses Operating Income $1.6 Billion vs. $0.9 Billion a year ago • Meta plans to deploy up to 6 GW of AMD Instinct GPUs, with the first 1-GW deployment powered by a custom AMD Instinct MI450-based GPU. Meta will also be a lead customer for 6th Gen AMD EPYC CPUs. • AWS, Google Cloud, Microsoft Azure and Tencent announced new and expanded 5th Gen EPYC-powered cloud instances, including Google Cloud H4D VMs for HPC and Azure instances across general-purpose, memory- and compute-optimized workloads. • In the latest MLPerf® results, AMD Instinct MI355X GPUs delivered strong competitive performance across the full suite, with leadership results in multiple categories. • Announced EPYC 8005 Server CPUs, delivering leadership performance per-watt-per-dollar for telecommunications and edge environments. • AMD and Samsung announced a collaboration on HBM4 supply for AMD Instinct MI455X GPUs and advanced DRAM solutions for 6th Gen AMD EPYC CPUs. 25% 28% Q1 2025 Q1 2026

15 | | Q1 2026 FINANCIAL RESULTS – May 5, 2026 Q1 2026 Client and Gaming Segment 17% 16% Q1 2025 Q1 2026 Revenue Operating Margin Driven by higher revenue partially offset by higher operating expenses Revenue $3.6 Billion Up 23% y/y Operating Income $575 Million vs. $496 Million a year ago Strategic Highlights • Launched AMD Ryzen AI PRO 400 Series processors, enabling next-generation enterprise desktop PCs that deliver Copilot+ experiences. • Introduced Ryzen 9950X3D2 Dual Edition processors, delivering enhanced performance for creative and developer workloads with dual stacks of 3D V-Cache . • Enabled day-zero support for the latest Gemma 4 models on AMD Ryzen AI processors and Radeon GPUs. • Released FSR 4.1 and Ray Regeneration 1.1, improving raytracing performance for high-quality visuals Client $2.3B Client $2.9B Gaming $0.6B Gaming $0.7B Q1 2025 Q1 2026 $2.9B $3.6B Driven by strong sales of the latest AMD Ryzen processors and continued share gains across consumer and commercial markets

16 | | Q1 2026 FINANCIAL RESULTS – May 5, 2026 Q1 2026 Embedded Segment Revenue Demand strengthened across several end markets Operating Margin Relatively flat due to end market mix $873M Q1 2025 Q1 2026 $823M 40% 39% Q1 2025 Q1 2026 Revenue $873 Million Up 6% y/y Operating Income $338 Million vs. $328 Million a year ago Strategic Highlights • Launched the Kintex UltraScale+ Gen 2 family of mid-range FPGAs, delivering advanced memory bandwidth and I/O performance for industrial, imaging and broadcast applications. • Cisco announced that AMD Ryzen Embedded V3000 processors will power new Cisco N9300 Series switches and 8000 Series routers for AI workloads. • Announced new Ryzen AI Embedded P100 Series processors, delivering scalable, power-efficient AI compute for industrial and edge applications.

17 | | Q1 2026 FINANCIAL RESULTS – May 5, 2026 Financial Outlook – NON-GAAP1 1. See Cautionary Statement on Slide 2. These forward-looking outlook statements and non-GAAP measures are based on current expectations as of May 5, 2026, and assumptions and beliefs that involve numerous risks and uncertainties. AMD undertakes no intent or obligation to publicly update or revise its outlook statements as a result of new information, future events or otherwise, except as may be required by law. All items, except revenue, are on a non-GAAP basis. Adjustments to arrive at the GAAP financial outlook typically include stock-based compensation, amortization of acquired intangible assets, income tax provision, and other non-recurring items such as impairment charges and acquisition-related costs. A reconciliation to equivalent GAAP measures is not practicable at this time as the timing and impact of such adjustments are dependent on future events that are typically uncertain or outside of AMD's control. Such events may include unanticipated changes in AMD’s GAAP effective tax rate, unanticipated one-time charges related to asset impairments, unanticipated acquisition-related expenses, unanticipated gains, losses, and impairments, and other unanticipated non-recurring items not reflective of ongoing operations. 2. Refer to Diluted Share Count overview in the Appendices. Q2’26 ~$11.2 Billion +/- $300 Million Revenue ~56%Gross Margin ~$3.3 BillionOperating Expenses $60 MillionInterest Expense/Other Income (Expense), net 13% of pre-tax incomeEffective Tax Rate ~1.66 Billion sharesDiluted Share Count2

18 | | Q1 2026 FINANCIAL RESULTS – May 5, 2026 Q1 2026 Summary1 1. See Appendices for GAAP to Non-GAAP reconciliation Accelerating revenue growth, earnings expansion and record quarterly free cash flow Revenue $10.3B Up 38% Y/Y Gross Margin 53% Non-GAAP Gross Margin 55% Data Center Segment Revenue $5.8B Up 57% Y/Y Client and Gaming Segment Revenue $3.6B Up 23% Y/Y Diluted EPS $0.84 Non-GAAP Diluted EPS $1.37

19 | | Q1 2026 FINANCIAL RESULTS – May 5, 2026 Corporate Responsibility at AMD Environmental Advancing environmental solutions across our products, supply chain and operations while accelerating energy efficiency for IT users Social Fostering a workplace where all voices are welcome and valued, partnering with suppliers and positively impacting our communities Governance Integrating corporate responsibility and governance across product design, supply chain, operations and external engagement

20 | | Q1 2026 FINANCIAL RESULTS – May 5, 2026 Our Momentum Driving Long-term Shareholder Returns Large and Compelling TAM Expanding Data Center and AI Leadership World-Class Execution and Focus Strong Balance Sheet Technology Leadership

21 | | Q1 2026 FINANCIAL RESULTS – May 5, 2026 Appendices Q4’25Q1’25Q1’26$ in millions, except % (Unaudited) $ 5,577$ 3,736$ 5,416GAAP gross profit 54%50%53%GAAP gross margin 858Stock-based compensation 260251261Amortization of acquisition-related intangibles 1--Acquisition-related and other costs (1) 9--Loss contingency on legal matter $ 5,855$ 3,992$ 5,685Non-GAAP gross profit 57%54%55%Non-GAAP gross margin (1) Acquisition-related and other costs primarily include transaction costs, purchase price fair value adjustments for inventory, certain compensation charges, and workforce rebalancing charges. Reconciliation of GAAP to Non-GAAP Gross Profit and Gross Margin Q4’25Q1’25Q1’26$ in millions, except % (Unaudited) $ 3,825$ 2,930$ 3,940GAAP operating expenses 37%39%38%GAAP operating expenses/revenue % 478359479Stock-based compensation 297316290Amortization of acquisition-related intangibles 494226Acquisition-related and other costs (1) $ 3,001$ 2,213$ 3,145Non-GAAP operating expenses 29%30%31%Non-GAAP operating expenses/revenue % Reconciliation of GAAP to Non-GAAP Operating Expenses

22 | | Q1 2026 FINANCIAL RESULTS – May 5, 2026 Appendices Q4’25Q1’25Q1’26$ in millions, except % (Unaudited) $ 1,752$ 806$ 1,476GAAP operating income 17%11%14%GAAP operating margin 486364487Stock-based compensation 557567551Amortization of acquisition-related intangibles 504226Acquisition-related and other costs (1) 9--Loss contingency on legal matter $ 2,854$ 1,779$ 2,540Non-GAAP operating income 28%24%25%Non-GAAP operating margin Reconciliation of GAAP Operating Income to Non-GAAP Operating Income (1) Acquisition-related and other costs primarily include transaction costs, purchase price fair value adjustments for inventory, certain compensation charges, and workforce rebalancing charges.

23 | | Q1 2026 FINANCIAL RESULTS – May 5, 2026 Appendices Reconciliation of GAAP to Non-GAAP Net Income / Diluted Earnings Per Share Q4’25Q1’25Q1’26$ in millions, except per share data (Unaudited) $ 0.92$ 1,511$ 0.44$ 709$ 0.84$ 1,383GAAP net income / earnings per share 0.294860.223640.30487Stock-based compensation 0.345570.355670.33551Amortization of acquisition-related intangibles 0.03500.03420.0227Acquisition-related and other costs (1) 0.019----Loss contingency on legal matter (0.17)(280)-2(0.04)(66)(Gains) losses on long-term investments, net -(1)-(7)-(6)Equity income in investee 0.0478(0.08)(111)(0.07)(100)Income tax provision 0.07109--(0.01)(11)(Income) loss from discontinued operations, net of tax (2) $ 1.53$ 2,519$ 0.96$ 1,566$ 1.37$ 2,265Non-GAAP net income / earnings per share (1) Acquisition-related and other costs primarily include transaction costs, purchase price fair value adjustments for inventory, certain compensation charges, and workforce rebalancing charges. (2) (Income) loss from discontinued operations relates to ZT Systems' manufacturing business which was divested in the fourth quarter of 2025, and includes impact from measurement period adjustments.

24 | | Q1 2026 FINANCIAL RESULTS – May 5, 2026 Appendices Reconciliation of GAAP Net Cash Provided by Operating Activities of Continuing Operations to Free Cash Flow Q1’26$ in millions, except % (Unaudited) $ 2,955GAAP net cash provided by operating activities of continuing operations 29%Operating cash flow margin % from continuing operations (389)Purchases of property and equipment $ 2,566Free cash flow 25%Free cash flow margin %

25 | | Q1 2026 FINANCIAL RESULTS – May 5, 2026 Appendices Share Count Overview The table above provides actual share count for Q1’26 and an estimate of share count to use when calculating GAAP and non-GAAP diluted earnings per share for Q2’26. (1) Share counts are weighted average shares. (2) The dilutive impact of employee equity grants is based on the Treasury Stock method and is dependent on the average stock price during the period. The Q1’26 average stock price was $214. The estimated dilutive impact of employee equity grants in Q2’26 is based on the average stock price of $253 between March 29, 2026 and Apr il 24, 2026. Q2’26Q1’26 Shares (millions) (Unaudited) (1) EstimateActual 1,6321,631Basic shares 2319Dilutive impact from employee equity grants (2) 1,6551,650Diluted shares

26 | | Q1 2026 FINANCIAL RESULTS – May 5, 2026

GRAPHIC

Filename: amd-20260505_g1.jpg · Sequence: 7

Binary file (8834 bytes)

Download amd-20260505_g1.jpg

GRAPHIC

Filename: amdq126earningsslidesfin001.jpg · Sequence: 8

Binary file (41531 bytes)

Download amdq126earningsslidesfin001.jpg

GRAPHIC

Filename: amdq126earningsslidesfin002.jpg · Sequence: 9

Binary file (294964 bytes)

Download amdq126earningsslidesfin002.jpg

GRAPHIC

Filename: amdq126earningsslidesfin003.jpg · Sequence: 10

Binary file (56408 bytes)

Download amdq126earningsslidesfin003.jpg

GRAPHIC

Filename: amdq126earningsslidesfin004.jpg · Sequence: 11

Binary file (125773 bytes)

Download amdq126earningsslidesfin004.jpg

GRAPHIC

Filename: amdq126earningsslidesfin005.jpg · Sequence: 12

Binary file (108882 bytes)

Download amdq126earningsslidesfin005.jpg

GRAPHIC

Filename: amdq126earningsslidesfin006.jpg · Sequence: 13

Binary file (64653 bytes)

Download amdq126earningsslidesfin006.jpg

GRAPHIC

Filename: amdq126earningsslidesfin007.jpg · Sequence: 14

Binary file (69577 bytes)

Download amdq126earningsslidesfin007.jpg

GRAPHIC

Filename: amdq126earningsslidesfin008.jpg · Sequence: 15

Binary file (68790 bytes)

Download amdq126earningsslidesfin008.jpg

GRAPHIC

Filename: amdq126earningsslidesfin009.jpg · Sequence: 16

Binary file (69253 bytes)

Download amdq126earningsslidesfin009.jpg

GRAPHIC

Filename: amdq126earningsslidesfin010.jpg · Sequence: 17

Binary file (95551 bytes)

Download amdq126earningsslidesfin010.jpg

GRAPHIC

Filename: amdq126earningsslidesfin011.jpg · Sequence: 18

Binary file (99720 bytes)

Download amdq126earningsslidesfin011.jpg

GRAPHIC

Filename: amdq126earningsslidesfin012.jpg · Sequence: 19

Binary file (78385 bytes)

Download amdq126earningsslidesfin012.jpg

GRAPHIC

Filename: amdq126earningsslidesfin013.jpg · Sequence: 20

Binary file (74106 bytes)

Download amdq126earningsslidesfin013.jpg

GRAPHIC

Filename: amdq126earningsslidesfin014.jpg · Sequence: 21

Binary file (128107 bytes)

Download amdq126earningsslidesfin014.jpg

GRAPHIC

Filename: amdq126earningsslidesfin015.jpg · Sequence: 22

Binary file (119734 bytes)

Download amdq126earningsslidesfin015.jpg

GRAPHIC

Filename: amdq126earningsslidesfin016.jpg · Sequence: 23

Binary file (108990 bytes)

Download amdq126earningsslidesfin016.jpg

GRAPHIC

Filename: amdq126earningsslidesfin017.jpg · Sequence: 24

Binary file (104568 bytes)

Download amdq126earningsslidesfin017.jpg

GRAPHIC

Filename: amdq126earningsslidesfin018.jpg · Sequence: 25

Binary file (81673 bytes)

Download amdq126earningsslidesfin018.jpg

GRAPHIC

Filename: amdq126earningsslidesfin019.jpg · Sequence: 26

Binary file (107239 bytes)

Download amdq126earningsslidesfin019.jpg

GRAPHIC

Filename: amdq126earningsslidesfin020.jpg · Sequence: 27

Binary file (70637 bytes)

Download amdq126earningsslidesfin020.jpg

GRAPHIC

Filename: amdq126earningsslidesfin021.jpg · Sequence: 28

Binary file (113768 bytes)

Download amdq126earningsslidesfin021.jpg

GRAPHIC

Filename: amdq126earningsslidesfin022.jpg · Sequence: 29

Binary file (77439 bytes)

Download amdq126earningsslidesfin022.jpg

GRAPHIC

Filename: amdq126earningsslidesfin023.jpg · Sequence: 30

Binary file (111838 bytes)

Download amdq126earningsslidesfin023.jpg

GRAPHIC

Filename: amdq126earningsslidesfin024.jpg · Sequence: 31

Binary file (60087 bytes)

Download amdq126earningsslidesfin024.jpg

GRAPHIC

Filename: amdq126earningsslidesfin025.jpg · Sequence: 32

Binary file (69357 bytes)

Download amdq126earningsslidesfin025.jpg

GRAPHIC

Filename: amdq126earningsslidesfin026.jpg · Sequence: 33

Binary file (28312 bytes)

Download amdq126earningsslidesfin026.jpg

GRAPHIC

Filename: image20a.jpg · Sequence: 34

Binary file (6206 bytes)

Download image20a.jpg

XML — IDEA: XBRL DOCUMENT

XML

Filename: R1.htm · Sequence: 36

v3.26.1

Cover Page

May 05, 2026

Cover [Abstract]

Document Type

8-K

Document Period End Date

May 05, 2026

Entity Registrant Name

ADVANCED MICRO DEVICES, INC.

Entity Incorporation, State or Country Code

Entity File Number

001-07882

Entity Tax Identification Number

94-1692300

Entity Address, Address Line One

2485 Augustine Drive

Entity Address, City or Town

Santa Clara

Entity Address, State or Province

Entity Address, Postal Zip Code

95054

City Area Code

408

Local Phone Number

749-4000

Written Communications

false

Soliciting Material

false

Pre-commencement Tender Offer

false

Pre-commencement Issuer Tender Offer

false

Title of 12(b) Security

Common Stock, $0.01 par value

Trading Symbol

AMD

Security Exchange Name

NASDAQ

Entity Emerging Growth Company

false

Entity Central Index Key

0000002488

Amendment Flag

false

- Definition

Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.

+ References

No definition available.

+ Details

Name:

dei_AmendmentFlag

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Area code of city

+ References

No definition available.

+ Details

Name:

dei_CityAreaCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Cover page.

+ References

No definition available.

+ Details

Name:

dei_CoverAbstract

Namespace Prefix:

dei_

Data Type:

xbrli:stringItemType

Balance Type:

Period Type:

duration

- Definition

For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.

+ References

No definition available.

+ Details

Name:

dei_DocumentPeriodEndDate

Namespace Prefix:

dei_

Data Type:

xbrli:dateItemType

Balance Type:

Period Type:

duration

- Definition

The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.

+ References

No definition available.

+ Details

Name:

dei_DocumentType

Namespace Prefix:

dei_

Data Type:

dei:submissionTypeItemType

Balance Type:

Period Type:

duration

- Definition

Address Line 1 such as Attn, Building Name, Street Name

+ References

No definition available.

+ Details

Name:

dei_EntityAddressAddressLine1

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the City or Town

+ References

No definition available.

+ Details

Name:

dei_EntityAddressCityOrTown

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Code for the postal or zip code

+ References

No definition available.

+ Details

Name:

dei_EntityAddressPostalZipCode

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Name of the state or province.

+ References

No definition available.

+ Details

Name:

dei_EntityAddressStateOrProvince

Namespace Prefix:

dei_

Data Type:

dei:stateOrProvinceItemType

Balance Type:

Period Type:

duration

- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityCentralIndexKey

Namespace Prefix:

dei_

Data Type:

dei:centralIndexKeyItemType

Balance Type:

Period Type:

duration

- Definition

Indicate if registrant meets the emerging growth company criteria.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityEmergingGrowthCompany

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

+ Details

Name:

dei_EntityFileNumber

Namespace Prefix:

dei_

Data Type:

dei:fileNumberItemType

Balance Type:

Period Type:

duration

- Definition

Two-character EDGAR code representing the state or country of incorporation.

+ References

No definition available.

+ Details

Name:

dei_EntityIncorporationStateCountryCode

Namespace Prefix:

dei_

Data Type:

dei:edgarStateCountryItemType

Balance Type:

Period Type:

duration

- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityRegistrantName

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

+ Details

Name:

dei_EntityTaxIdentificationNumber

Namespace Prefix:

dei_

Data Type:

dei:employerIdItemType

Balance Type:

Period Type:

duration

- Definition

Local phone number for entity.

+ References

No definition available.

+ Details

Name:

dei_LocalPhoneNumber

Namespace Prefix:

dei_

Data Type:

xbrli:normalizedStringItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

+ Details

Name:

dei_PreCommencementIssuerTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

+ Details

Name:

dei_PreCommencementTenderOffer

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Title of a 12(b) registered security.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

+ Details

Name:

dei_Security12bTitle

Namespace Prefix:

dei_

Data Type:

dei:securityTitleItemType

Balance Type:

Period Type:

duration

- Definition

Name of the Exchange on which a security is registered.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

+ Details

Name:

dei_SecurityExchangeName

Namespace Prefix:

dei_

Data Type:

dei:edgarExchangeCodeItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

+ Details

Name:

dei_SolicitingMaterial

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration

- Definition

Trading symbol of an instrument as listed on an exchange.

+ References

No definition available.

+ Details

Name:

dei_TradingSymbol

Namespace Prefix:

dei_

Data Type:

dei:tradingSymbolItemType

Balance Type:

Period Type:

duration

- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

+ Details

Name:

dei_WrittenCommunications

Namespace Prefix:

dei_

Data Type:

xbrli:booleanItemType

Balance Type:

Period Type:

duration