Earnings Preview: AMD set to report Q3 2025 results. Here’s what to expect

For Advanced Micro Devices, Inc. (NASDAQ: AMD), 2025 has been a pivotal year marked by strong revenue growth and strategic partnerships in AI and enterprise computing. Continued growth in data center deployments and steady gains in the client segment have reinforced the chipmaker’s edge in the rapidly evolving semiconductor landscape. Investors will be closely watching the company’s upcoming earnings report as it is expected to update on the recent OpenAI deal.

Q3 Report Due

AMD is preparing to report its September-quarter results on November 4, after the closing bell. Analysts anticipate a strong year-over-year rise in revenue and adjusted earnings, driven by continued momentum in its data center and AI segments. The consensus earnings estimate is $1.17 per share, which represents a marked improvement from the prior-year quarter when the company earned $0.92 per share. The bullish forecast reflects an estimated 28.3% growth in Q3 revenues to $8.75 billion.

AMD shares set a new record of $264.33 this week, extending the upswing that followed the company’s multi-year strategic partnership with OpenAI, announced in early October. AMD has grown a whopping 58% in the past 30 days alone. Notably, the average stock price for the last 52 weeks is $137.52. The value has more than doubled in the past four months, outperforming the broader market.

Revenue Beats

In the second quarter, earnings, on an adjusted basis, declined to $0.48 per share from $0.69 per share in the same period of 2024. Unadjusted net income was $872 million or $0.54 per share in Q2, compared to $265 million or $0.16 per share a year earlier. The company reported revenues of $7.7 billion for the June quarter, vs. $5.83 billion in the prior-year period. Earnings matched estimates while revenues exceeded expectations.

“To accelerate our development, we have invested significantly to expand our AI software and hardware capabilities, both organically and inorganically, with a number of acquisitions and strategic investments. We strengthened our software stack last quarter with the addition of the Brium and Lamini teams, building on our acquisitions of Nod.ai, Mipsology, and Silo AI. On the hardware side, we added a world-class rack and data center scale design team in the second quarter with our acquisition of ZT Systems,” AMD CEO Lisa Su said in the Q2 earnings call.

Road Ahead

Recently, AMD entered into a partnership with OpenAI for large-scale deployments of its technology, starting with the AMD Instinct MI450 series and rack-scale AI solutions. With its aggressive data center strategy focused on AI, the company is constantly challenging Nvidia’s dominance in that area. The development of AMD’s next-generation MI400 series is progressing, and it is planned for launch in 2026. According to the company, it is the most advanced GPU it has ever built. More recently, AMD and the US Department of Energy announced the development of two supercomputers — Lux AI and Discovery — designed to drive breakthroughs in science, energy, and national security.

Reversing the recent uptrend, AMD shares traded slightly lower during Friday’s session. The last closing price is up 78% from the levels seen a year ago.