Advanced Micro Devices reported third-quarter earnings on Tuesday that beat Wall Street's expectations, with revenue jumping 45% and data center sales nearly doubling from a year earlier. The stock was up 8% in extended trading.
Here's how the chipmaker did versus LSEG consensus estimates for the quarter:
Revenue increased from $9.25 billion a year earlier, AMD said in a statement. Neoclouds like CoreWeave and Nebius rallied earlier Tuesday and remained higher after AMD reported results.
CEO Lisa Su said on the earnings call that she expects server revenue to double year over year in 2027 and data center AI growth to accelerate even faster than the company had projected 90 days ago. The company expects data center to drive the majority of its revenue and earnings growth.
"We have worked across our supply chain to secure the wafers, substrates, advanced packaging, memory, and other key components needed to support much higher growth next year," Su said on the earnings call.